American Express Company $AXP Shares Acquired by Patten Group Inc.

Patten Group Inc. lifted its holdings in shares of American Express Company (NYSE:AXP) by 3.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,489 shares of the payment services company’s stock after buying an additional 50 shares during the period. Patten Group Inc.’s holdings in American Express were worth $475,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. MorganRosel Wealth Management LLC acquired a new stake in shares of American Express during the first quarter worth about $29,000. Hughes Financial Services LLC purchased a new position in American Express during the first quarter worth about $35,000. 1 North Wealth Services LLC purchased a new position in American Express during the first quarter worth about $37,000. Chung Wu Investment Group LLC purchased a new position in American Express during the second quarter worth about $37,000. Finally, Abound Financial LLC purchased a new position in American Express during the first quarter worth about $41,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Trading Down 1.0%

Shares of American Express stock opened at $351.68 on Thursday. American Express Company has a 12-month low of $220.43 and a 12-month high of $357.73. The company has a current ratio of 1.61, a quick ratio of 1.69 and a debt-to-equity ratio of 1.78. The stock has a market cap of $242.25 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 1.84 and a beta of 1.29. The company has a 50-day moving average of $328.64 and a two-hundred day moving average of $304.16.

American Express (NYSE:AXP) last issued its earnings results on Friday, October 17th. The payment services company reported $4.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.98 by $0.16. American Express had a net margin of 14.97% and a return on equity of 33.41%. The company had revenue of $18.43 billion during the quarter, compared to analysts’ expectations of $18.03 billion. During the same period last year, the company posted $3.49 earnings per share. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. 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 fiscal year.

American Express Announces Dividend

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

Insider Buying and Selling at American Express

In other news, insider Laureen Seeger sold 61,721 shares of the firm’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $297.47, for a total transaction of $18,360,145.87. Following the completion of the transaction, the insider directly owned 9,001 shares of the company’s stock, valued at $2,677,527.47. This trade represents a 87.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Anna Marrs sold 5,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $310.77, for a total transaction of $1,709,235.00. Following the transaction, the insider directly owned 20,311 shares of the company’s stock, valued at approximately $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. Over the last 90 days, insiders sold 269,996 shares of company stock worth $85,261,270. 0.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

AXP has been the subject of several analyst reports. Royal Bank Of Canada reissued an “outperform” rating on shares of American Express in a report on Monday, July 14th. DZ Bank raised shares of American Express from a “sell” rating to a “hold” rating and set a $340.00 price target for the company in a report on Tuesday. Truist Financial increased their price target on shares of American Express from $375.00 to $395.00 and gave the stock a “buy” rating in a report on Monday. Weiss Ratings raised shares of American Express from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of American Express from $371.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, July 21st. Nine analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $332.65.

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.