Spinnaker Trust Sells 190 Shares of American Express Company $AXP

Spinnaker Trust reduced its holdings in shares of American Express Company (NYSE:AXP) by 3.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,079 shares of the payment services company’s stock after selling 190 shares during the quarter. Spinnaker Trust’s holdings in American Express were worth $1,620,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at American Express

In related news, CEO Stephen J. Squeri sold 112,272 shares of the firm’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $329.86, for a total transaction of $37,034,041.92. Following the completion of the sale, the chief executive officer owned 92,810 shares of the company’s stock, valued at $30,614,306.60. This trade represents a 54.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Douglas Tabish sold 2,515 shares of the firm’s stock in a transaction that occurred on Thursday, October 23rd. The stock was sold at an average price of $355.61, for a total value of $894,359.15. Following the sale, the insider directly owned 2,515 shares of the company’s stock, valued at $894,359.15. This represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 222,011 shares of company stock valued at $70,725,044 over the last ninety days. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

AXP has been the subject of several research reports. DZ Bank upgraded American Express from a “sell” rating to a “hold” rating and set a $340.00 target price for the company in a research report on Tuesday, October 21st. Morgan Stanley increased their target price on American Express from $311.00 to $362.00 and gave the company an “equal weight” rating in a research report on Monday, September 29th. Wells Fargo & Company raised their price objective on American Express from $375.00 to $400.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Monness Crespi & Hardt downgraded American Express from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 15th. Finally, Evercore ISI raised their price objective on American Express from $330.00 to $365.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Nine equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, American Express presently has a consensus rating of “Hold” and an average price target of $332.65.

American Express Price Performance

Shares of AXP opened at $357.99 on Thursday. 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. The company has a market capitalization of $246.60 billion, a price-to-earnings ratio of 24.03, a price-to-earnings-growth ratio of 1.92 and a beta of 1.29. The business has a 50-day moving average of $333.81 and a 200-day moving average of $308.93.

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

American Express Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Friday, October 10th will be paid a dividend of $0.82 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $3.28 annualized dividend and a yield of 0.9%. American Express’s dividend payout ratio (DPR) 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.