HBK Sorce Advisory LLC Has $3.31 Million Holdings in American Express Company $AXP

HBK Sorce Advisory LLC lifted its position in shares of American Express Company (NYSE:AXP) by 2.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,376 shares of the payment services company’s stock after buying an additional 244 shares during the quarter. HBK Sorce Advisory LLC’s holdings in American Express were worth $3,310,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Premier Path Wealth Partners LLC increased its position in shares of American Express by 17.7% during the second quarter. Premier Path Wealth Partners LLC now owns 5,490 shares of the payment services company’s stock worth $1,751,000 after buying an additional 824 shares during the period. Hantz Financial Services Inc. grew its holdings in American Express by 133.2% in the second quarter. Hantz Financial Services Inc. now owns 977 shares of the payment services company’s stock worth $312,000 after purchasing an additional 558 shares during the period. Buck Wealth Strategies LLC acquired a new stake in American Express in the second quarter worth $207,000. Arkadios Wealth Advisors grew its holdings in American Express by 20.1% in the second quarter. Arkadios Wealth Advisors now owns 13,777 shares of the payment services company’s stock worth $4,395,000 after purchasing an additional 2,310 shares during the period. Finally, World Investment Advisors grew its holdings in American Express by 9.6% in the second quarter. World Investment Advisors now owns 7,253 shares of the payment services company’s stock worth $2,313,000 after purchasing an additional 638 shares during the period. 84.33% of the stock is currently owned by institutional investors and hedge funds.

American Express Stock Down 0.8%

Shares of NYSE AXP opened at $357.99 on Thursday. The stock has a market capitalization 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. The company has a 50-day moving average price of $333.81 and a 200-day moving average price of $308.93. American Express Company has a 1 year low of $220.43 and a 1 year high of $362.84. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.61 and a quick ratio of 1.59.

American Express (NYSE:AXP) last issued its quarterly earnings data 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. The firm had revenue of $18.43 billion during the quarter, compared to analysts’ expectations of $18.03 billion. American Express had a net margin of 14.97% and a return on equity of 33.41%. The business’s revenue was up 11.0% on a year-over-year basis. During the same period last year, the company earned $3.49 earnings per share. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. On average, equities research analysts forecast that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Dividend Announcement

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 issued 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 is Friday, October 10th. American Express’s dividend payout ratio (DPR) is currently 22.01%.

Insider Activity

In related news, insider Denise Pickett sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, October 22nd. The shares were sold at an average price of $350.73, for a total transaction of $1,753,650.00. Following the transaction, the insider directly owned 7,726 shares of the company’s stock, valued at $2,709,739.98. This trade represents a 39.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $326.37, for a total transaction of $7,671,326.85. Following the transaction, the insider directly owned 123,613 shares in the company, valued at $40,343,574.81. The trade was a 15.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 222,011 shares of company stock valued at $70,725,044. 0.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on AXP shares. Keefe, Bruyette & Woods raised their price target on shares of American Express from $371.00 to $394.00 and gave the stock an “outperform” rating in a report on Wednesday, October 1st. Weiss Ratings upgraded shares of American Express from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. Wells Fargo & Company raised their price target on shares of American Express from $375.00 to $400.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. BTIG Research raised their price target on shares of American Express from $277.00 to $307.00 and gave the stock a “sell” rating in a report on Friday, October 17th. Finally, UBS Group raised their price target on shares of American Express from $330.00 to $340.00 and gave the stock a “neutral” rating in a report on Tuesday, October 7th. Nine research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, American Express currently has a consensus rating of “Hold” and a consensus target price 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.