Amalgamated Bank Decreases Stock Position in American Express Company $AXP

Amalgamated Bank decreased its holdings in shares of American Express Company (NYSE:AXP) by 0.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 113,592 shares of the payment services company’s stock after selling 759 shares during the period. Amalgamated Bank’s holdings in American Express were worth $36,234,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AXP. Savvy Advisors Inc. boosted its holdings in American Express by 30.4% in the second quarter. Savvy Advisors Inc. now owns 4,246 shares of the payment services company’s stock valued at $1,354,000 after acquiring an additional 989 shares in the last quarter. Noesis Capital Mangement Corp boosted its holdings in American Express by 0.9% in the second quarter. Noesis Capital Mangement Corp now owns 105,024 shares of the payment services company’s stock valued at $33,500,000 after acquiring an additional 886 shares in the last quarter. Assetmark Inc. boosted its holdings in American Express by 2.8% in the second quarter. Assetmark Inc. now owns 76,453 shares of the payment services company’s stock valued at $24,387,000 after acquiring an additional 2,116 shares in the last quarter. HBK Sorce Advisory LLC boosted its holdings in American Express by 2.4% in the second quarter. HBK Sorce Advisory LLC now owns 10,376 shares of the payment services company’s stock valued at $3,310,000 after acquiring an additional 244 shares in the last quarter. Finally, Premier Path Wealth Partners LLC boosted its holdings in American Express by 17.7% in the second quarter. Premier Path Wealth Partners LLC now owns 5,490 shares of the payment services company’s stock valued at $1,751,000 after acquiring an additional 824 shares in the last quarter. Institutional investors own 84.33% of the company’s stock.

Analyst Upgrades and Downgrades

AXP has been the topic of several research reports. Barclays lifted their price objective on American Express from $336.00 to $355.00 and gave the company an “equal weight” rating in a research report on Monday, October 20th. Citigroup reaffirmed a “neutral” rating and set a $327.00 price objective (up from $300.00) on shares of American Express in a research report on Wednesday, July 2nd. JPMorgan Chase & Co. lifted their price objective on American Express from $343.00 to $355.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. HSBC set a $295.00 price objective on American Express and gave the company a “hold” rating in a research report on Friday, October 10th. Finally, Evercore ISI lifted their price objective on American Express from $330.00 to $365.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Nine research 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.com, the stock presently has an average rating of “Hold” and an average price target of $332.65.

Insider Transactions at American Express

In related news, insider Denise Pickett sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 22nd. The stock was sold at an average price of $350.73, for a total value of $1,753,650.00. Following the transaction, the insider directly owned 7,726 shares of the company’s stock, valued at approximately $2,709,739.98. This represents a 39.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Stephen J. Squeri sold 112,272 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $329.86, for a total value of $37,034,041.92. Following the completion of the transaction, the chief executive officer directly owned 92,810 shares in the company, valued at $30,614,306.60. This trade represents a 54.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 222,011 shares of company stock worth $70,725,044. Company insiders own 0.20% of the company’s stock.

American Express Stock Performance

Shares of AXP opened at $357.99 on Thursday. The company has a quick ratio of 1.59, a current ratio of 1.61 and a debt-to-equity ratio of 1.78. The business’s 50 day moving average price is $333.81 and its 200-day moving average price is $308.93. American Express Company has a 52 week low of $220.43 and a 52 week high of $362.84. The stock has a market cap of $246.60 billion, a P/E ratio of 24.03, a P/E/G ratio of 1.92 and a beta of 1.29.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, October 17th. The payment services company reported $4.14 EPS for the quarter, topping analysts’ consensus estimates of $3.98 by $0.16. American Express had a return on equity of 33.41% and a net margin of 14.97%.The firm had revenue of $18.43 billion for the quarter, compared to analysts’ expectations of $18.03 billion. During the same period in the previous year, the firm posted $3.49 EPS. The business’s revenue for the quarter 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. Equities research analysts anticipate that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Friday, October 10th will be given a $0.82 dividend. 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 payout ratio is currently 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.