Lorne Steinberg Wealth Management Inc. Sells 300 Shares of American Express Company $AXP

Lorne Steinberg Wealth Management Inc. lowered its stake in American Express Company (NYSE:AXP) by 0.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,839 shares of the payment services company’s stock after selling 300 shares during the period. American Express comprises 2.7% of Lorne Steinberg Wealth Management Inc.’s investment portfolio, making the stock its 8th biggest position. Lorne Steinberg Wealth Management Inc.’s holdings in American Express were worth $10,475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. MorganRosel Wealth Management LLC acquired a new stake in shares of American Express during the 1st quarter worth about $29,000. Chung Wu Investment Group LLC acquired a new stake in shares of American Express during the 2nd quarter worth about $37,000. Hughes Financial Services LLC acquired a new stake in shares of American Express during the 1st quarter worth about $35,000. Proffitt & Goodson Inc. acquired a new stake in shares of American Express during the 2nd quarter worth about $41,000. Finally, 1 North Wealth Services LLC acquired a new stake in shares of American Express during the 1st quarter worth about $37,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

Insider Buying and Selling

In other American Express news, insider Glenda G. Mcneal sold 50,000 shares of American Express stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total value of $15,475,000.00. Following the transaction, the insider directly owned 10,957 shares in the company, valued at approximately $3,391,191.50. This trade represents a 82.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Anna Marrs sold 5,500 shares of American Express stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $310.77, for a total value of $1,709,235.00. Following the completion of the transaction, the insider owned 20,311 shares in the company, valued at $6,312,049.47. This trade represents a 21.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 269,996 shares of company stock worth $85,261,270. 0.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their target price on American Express from $343.00 to $355.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Wells Fargo & Company raised their target price on American Express from $350.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, September 5th. DZ Bank lowered American Express from a “hold” rating to a “sell” rating in a research report on Monday, July 21st. Royal Bank Of Canada reissued an “outperform” rating on shares of American Express in a research report on Monday, July 14th. Finally, Truist Financial raised their target price on American Express from $348.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, September 15th. Nine research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, American Express presently has a consensus rating of “Hold” and an average price target of $323.60.

American Express Trading Up 7.2%

NYSE:AXP opened at $346.45 on Monday. The stock’s 50 day moving average price is $325.64 and its 200 day moving average price is $302.66. The company has a market capitalization of $241.09 billion, a PE ratio of 23.25, a P/E/G ratio of 1.81 and a beta of 1.29. The company has a quick ratio of 1.69, a current ratio of 1.71 and a debt-to-equity ratio of 1.78. American Express Company has a 52-week low of $220.43 and a 52-week high of $349.19.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, October 17th. The payment services company reported $4.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.98 by $0.16. The firm had revenue of $18.43 billion for the quarter, compared to the consensus estimate of $18.03 billion. American Express had a return on equity of 33.41% and a net margin of 14.97%.The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the business posted $3.49 EPS. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. On average, research analysts anticipate that American Express Company will post 15.33 EPS for the current year.

American Express Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Friday, October 10th will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, October 10th. American Express’s dividend payout ratio (DPR) is 22.01%.

American Express Company Profile

American Express Company, together with its subsidiaries, operates as integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and Internationally. It operates through four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.