Whittier Trust Co. of Nevada Inc. Reduces Stake in American Express Company $AXP

Whittier Trust Co. of Nevada Inc. trimmed its stake in American Express Company (NYSE:AXP) by 1.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,896 shares of the payment services company’s stock after selling 433 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in American Express were worth $11,769,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AXP. Nuveen LLC purchased a new position in American Express in the first quarter valued at about $1,454,667,000. Wellington Management Group LLP boosted its stake in American Express by 13.7% in the first quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company’s stock valued at $4,849,777,000 after acquiring an additional 2,168,445 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in American Express by 25.5% in the first quarter. Goldman Sachs Group Inc. now owns 4,752,690 shares of the payment services company’s stock valued at $1,278,711,000 after acquiring an additional 965,221 shares during the last quarter. Vanguard Group Inc. boosted its stake in American Express by 1.3% in the first quarter. Vanguard Group Inc. now owns 45,843,893 shares of the payment services company’s stock valued at $12,334,299,000 after acquiring an additional 605,900 shares during the last quarter. Finally, Provident Trust Co. purchased a new position in American Express in the first quarter valued at about $126,119,000. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AXP has been the topic of a number of research analyst reports. Compass Point reiterated a “neutral” rating and issued a $324.00 target price on shares of American Express in a research note on Monday. Keefe, Bruyette & Woods boosted their price target on shares of American Express from $371.00 to $394.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. Royal Bank Of Canada reissued an “outperform” rating on shares of American Express in a research report on Monday, July 14th. BTIG Research boosted their price target on shares of American Express from $277.00 to $307.00 and gave the company a “sell” rating in a research report on Friday. Finally, Weiss Ratings raised shares of American Express from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. Nine equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, American Express currently has an average rating of “Hold” and a consensus target price of $332.26.

Insider Buying and Selling at American Express

In other news, insider Laureen Seeger sold 16,998 shares of the stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $294.83, for a total value of $5,011,520.34. Following the transaction, the insider owned 9,001 shares of the company’s stock, valued at $2,653,764.83. This represents a 65.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Glenda G. Mcneal sold 50,000 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total transaction of $15,475,000.00. Following the completion of the transaction, the insider directly owned 10,957 shares in the company, valued at $3,391,191.50. The trade was a 82.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 269,996 shares of company stock worth $85,261,270 in the last ninety days. Insiders own 0.20% of the company’s stock.

American Express Stock Performance

American Express stock opened at $349.21 on Tuesday. The firm’s 50 day simple moving average is $326.69 and its 200 day simple moving average is $303.47. The company has a current ratio of 1.71, a quick ratio of 1.69 and a debt-to-equity ratio of 1.78. The firm has a market capitalization of $243.01 billion, a PE ratio of 23.44, a price-to-earnings-growth ratio of 1.81 and a beta of 1.29. American Express Company has a 1-year low of $220.43 and a 1-year high of $350.22.

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

American Express Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Friday, October 10th will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, October 10th. American Express’s dividend payout ratio is 22.01%.

American Express 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.