Benin Management CORP Sells 1,075 Shares of American Express Company $AXP

Benin Management CORP cut its holdings in American Express Company (NYSE:AXP) by 28.0% in the second quarter, HoldingsChannel reports. The firm owned 2,763 shares of the payment services company’s stock after selling 1,075 shares during the period. Benin Management CORP’s holdings in American Express were worth $881,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of AXP. Brighton Jones LLC boosted its holdings in American Express by 24.4% during the fourth quarter. Brighton Jones LLC now owns 6,481 shares of the payment services company’s stock valued at $1,924,000 after acquiring an additional 1,273 shares during the period. GAMMA Investing LLC raised its position in American Express by 3.1% in the first quarter. GAMMA Investing LLC now owns 8,039 shares of the payment services company’s stock worth $2,163,000 after purchasing an additional 238 shares in the last quarter. JFS Wealth Advisors LLC raised its position in American Express by 10.3% in the first quarter. JFS Wealth Advisors LLC now owns 1,592 shares of the payment services company’s stock worth $428,000 after purchasing an additional 149 shares in the last quarter. Continuum Advisory LLC increased its holdings in shares of American Express by 5.2% during the first quarter. Continuum Advisory LLC now owns 3,263 shares of the payment services company’s stock worth $878,000 after buying an additional 161 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its holdings in shares of American Express by 6.6% during the first quarter. Asset Management One Co. Ltd. now owns 337,966 shares of the payment services company’s stock worth $90,930,000 after buying an additional 20,801 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors.

Insider Activity at American Express

In other American Express news, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $326.37, for a total value of $7,671,326.85. Following the completion of the sale, the insider directly owned 123,613 shares in the company, valued at approximately $40,343,574.81. This trade represents a 15.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Stephen J. Squeri sold 112,272 shares of the firm’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $329.86, for a total transaction of $37,034,041.92. Following the completion of the sale, the chief executive officer owned 92,810 shares of the company’s stock, valued at $30,614,306.60. The trade was a 54.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 269,996 shares of company stock valued at $85,261,270 over the last 90 days. 0.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

AXP has been the topic of several research analyst reports. Barclays increased their price target on shares of American Express from $336.00 to $355.00 and gave the company an “equal weight” rating in a research note on Monday. Monness Crespi & Hardt lowered shares of American Express from a “buy” rating to a “neutral” rating in a report on Tuesday, July 15th. William Blair restated an “outperform” rating on shares of American Express in a report on Wednesday, July 2nd. Wells Fargo & Company lifted their price target on shares of American Express from $375.00 to $400.00 and gave the company an “overweight” rating in a research note on Monday. Finally, JPMorgan Chase & Co. lifted their price target on shares of American Express from $343.00 to $355.00 and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Nine equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, American Express presently has a consensus rating of “Hold” and an average target price of $332.65.

American Express Stock Performance

Shares of American Express stock opened at $355.76 on Wednesday. The company has a 50 day moving average of $327.75 and a 200-day moving average of $303.83. The company has a market cap of $245.06 billion, a PE ratio of 23.88, a price-to-earnings-growth ratio of 1.85 and a beta of 1.29. American Express Company has a 1-year low of $220.43 and a 1-year high of $356.67. The company has a current ratio of 1.61, a quick ratio of 1.69 and a debt-to-equity ratio of 1.78.

American Express (NYSE:AXP) last released its quarterly earnings data 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 business had revenue of $18.43 billion during the quarter, compared to analysts’ expectations of $18.03 billion. American Express had a net margin of 14.97% and a return on equity of 33.41%. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company earned $3.49 EPS. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. As a group, equities research analysts forecast that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Dividend Announcement

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