American Express Company $AXP Shares Purchased by Granite Harbor Advisors Inc.

Granite Harbor Advisors Inc. grew its holdings in shares of American Express Company (NYSE:AXP) by 9.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 847 shares of the payment services company’s stock after purchasing an additional 71 shares during the period. Granite Harbor Advisors Inc.’s holdings in American Express were worth $270,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Nuveen LLC acquired a new stake in shares of American Express in the 1st quarter worth about $1,454,667,000. Wellington Management Group LLP grew its position in American Express by 13.7% in the 1st 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 buying an additional 2,168,445 shares in the last quarter. Goldman Sachs Group Inc. grew its position in American Express by 25.5% in the 1st 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 buying an additional 965,221 shares in the last quarter. Vanguard Group Inc. grew its position in American Express by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 45,843,893 shares of the payment services company’s stock valued at $12,334,299,000 after buying an additional 605,900 shares in the last quarter. Finally, Provident Trust Co. bought a new position in American Express in the 1st quarter valued at about $126,119,000. 84.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on AXP shares. HSBC set a $295.00 price target on shares of American Express and gave the stock a “hold” rating in a research report on Friday, October 10th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of American Express from $371.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, July 21st. DZ Bank raised shares of American Express from a “sell” rating to a “hold” rating and set a $340.00 price objective on the stock in a research report on Tuesday. Evercore ISI raised their price objective on shares of American Express from $330.00 to $365.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Finally, Compass Point reaffirmed a “neutral” rating and set a $324.00 price objective on shares of American Express in a research report on Monday. Nine 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.com, the company currently has an average rating of “Hold” and a consensus target price of $332.65.

American Express Trading Down 1.0%

Shares of American Express stock opened at $351.68 on Thursday. The company’s fifty day simple moving average is $328.64 and its 200-day simple moving average is $304.16. The company has a market cap of $242.25 billion, a price-to-earnings ratio of 23.60, a PEG ratio of 1.84 and a beta of 1.29. 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 Company has a 1 year low of $220.43 and a 1 year high of $357.73.

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

American Express Announces Dividend

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

Insider Transactions at American Express

In other American Express news, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the business’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 sale, the insider owned 123,613 shares of the company’s stock, valued at $40,343,574.81. The trade was a 15.98% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Anna Marrs sold 5,500 shares of the business’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $310.77, for a total transaction of $1,709,235.00. Following the completion of the sale, the insider directly owned 20,311 shares in the company, valued at $6,312,049.47. This trade represents a 21.31% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 269,996 shares of company stock worth $85,261,270. 0.20% of the stock is currently owned by company insiders.

About American Express

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.