American Express Company $AXP Shares Bought by Carnegie Investment Counsel

Carnegie Investment Counsel raised its holdings in American Express Company (NYSE:AXP) by 18.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,295 shares of the payment services company’s stock after acquiring an additional 1,000 shares during the period. Carnegie Investment Counsel’s holdings in American Express were worth $2,008,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. raised its holdings in American Express by 5.5% in the 1st quarter. Principal Financial Group Inc. now owns 680,308 shares of the payment services company’s stock valued at $183,037,000 after acquiring an additional 35,295 shares during the last quarter. Pinnacle Financial Partners Inc raised its holdings in American Express by 1.4% in the 1st quarter. Pinnacle Financial Partners Inc now owns 167,534 shares of the payment services company’s stock valued at $45,243,000 after acquiring an additional 2,259 shares during the last quarter. R Squared Ltd acquired a new stake in American Express in the 1st quarter valued at about $509,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in American Express by 6.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,458 shares of the payment services company’s stock valued at $25,088,000 after acquiring an additional 5,693 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC grew its stake in shares of American Express by 15.8% in the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 8,787 shares of the payment services company’s stock valued at $2,364,000 after buying an additional 1,199 shares during the period. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Performance

NYSE:AXP opened at $357.29 on Friday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.69 and a current ratio of 1.61. The stock has a market capitalization of $246.12 billion, a P/E ratio of 23.98, a PEG ratio of 1.85 and a beta of 1.29. The company has a 50 day moving average price of $330.62 and a 200 day moving average price of $306.39. American Express Company has a fifty-two week low of $220.43 and a fifty-two week high of $362.32.

American Express (NYSE:AXP) last posted its quarterly earnings data 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. American Express had a net margin of 14.97% and a return on equity of 33.41%. The firm had revenue of $18.43 billion during the quarter, compared to analysts’ expectations of $18.03 billion. During the same quarter last year, the company posted $3.49 EPS. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. Equities research analysts forecast 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 given 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 dividend payout ratio (DPR) is currently 22.01%.

Insider Buying and Selling

In other American Express news, insider Anna Marrs sold 5,500 shares of the firm’s 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 of the company’s stock, valued at $6,312,049.47. This trade represents a 21.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 represents a 87.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 277,511 shares of company stock worth $87,909,279 over the last three months. 0.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on AXP shares. Citigroup reissued a “neutral” rating and issued a $327.00 price target (up previously from $300.00) on shares of American Express in a research note on Wednesday, July 2nd. Monness Crespi & Hardt cut shares of American Express from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 15th. Evercore ISI increased their price target on shares of American Express from $330.00 to $365.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. 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, October 20th. Finally, Compass Point reissued a “neutral” rating and issued a $324.00 price target on shares of American Express in a research note on Monday, October 20th. Nine investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $332.65.

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.