Transcend Capital Advisors LLC Sells 442 Shares of American Express Company $AXP

Transcend Capital Advisors LLC lessened its holdings in American Express Company (NYSE:AXP) by 19.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,798 shares of the payment services company’s stock after selling 442 shares during the period. Transcend Capital Advisors LLC’s holdings in American Express were worth $573,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Asset Advisory Services LLC raised its stake in American Express by 2.8% during the 2nd quarter. Capital Asset Advisory Services LLC now owns 1,191 shares of the payment services company’s stock worth $384,000 after acquiring an additional 32 shares during the period. DLK Investment Management LLC raised its stake in American Express by 3.8% during the 2nd quarter. DLK Investment Management LLC now owns 869 shares of the payment services company’s stock worth $277,000 after acquiring an additional 32 shares during the period. Financial Engines Advisors L.L.C. raised its stake in American Express by 4.7% during the 1st quarter. Financial Engines Advisors L.L.C. now owns 772 shares of the payment services company’s stock worth $208,000 after acquiring an additional 35 shares during the period. Modern Wealth Management LLC raised its stake in American Express by 0.7% during the 1st quarter. Modern Wealth Management LLC now owns 4,921 shares of the payment services company’s stock worth $1,324,000 after acquiring an additional 35 shares during the period. Finally, Greenfield Savings Bank raised its stake in American Express by 0.3% during the 2nd quarter. Greenfield Savings Bank now owns 13,116 shares of the payment services company’s stock worth $4,184,000 after acquiring an additional 35 shares during the period. Institutional investors own 84.33% of the company’s stock.

American Express Trading Down 0.1%

Shares of AXP opened at $361.41 on Wednesday. The company’s fifty day moving average is $332.81 and its 200 day moving average is $308.18. American Express Company has a fifty-two week low of $220.43 and a fifty-two week high of $362.84. The stock has a market capitalization of $248.95 billion, a PE ratio of 24.26, a P/E/G ratio of 1.92 and a beta of 1.29. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.59 and a current ratio of 1.61.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, October 17th. The payment services company reported $4.14 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $18.03 billion. During the same quarter in the previous year, the business posted $3.49 earnings per share. American Express’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. Sell-side analysts expect that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors 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 is Friday, October 10th. American Express’s payout ratio is currently 22.01%.

Analysts Set New Price Targets

A number of research firms have commented on AXP. UBS Group raised their target price on shares of American Express from $330.00 to $340.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 7th. DZ Bank upgraded 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, October 21st. Truist Financial lifted their price objective on shares of American Express from $375.00 to $395.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Evercore ISI lifted 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, Deutsche Bank Aktiengesellschaft lifted 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. Nine research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, American Express currently has a consensus rating of “Hold” and an average price target of $332.65.

Insider Buying and Selling

In other American Express news, CEO Stephen J. Squeri sold 112,272 shares of American Express stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $329.86, for a total transaction of $37,034,041.92. Following the completion of the transaction, the chief executive officer directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Douglas Tabish sold 2,515 shares of American Express stock in a transaction on Thursday, October 23rd. The stock was sold at an average price of $355.61, for a total transaction of $894,359.15. Following the transaction, the insider directly owned 2,515 shares of the company’s stock, valued at $894,359.15. The trade was a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 222,011 shares of company stock valued at $70,725,044 in the last three months. Corporate insiders own 0.20% of the company’s stock.

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.