American Express Company $AXP Shares Sold by Torray Investment Partners LLC

Torray Investment Partners LLC trimmed its stake in shares of American Express Company (NYSE:AXP) by 1.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,650 shares of the payment services company’s stock after selling 637 shares during the quarter. American Express accounts for 2.7% of Torray Investment Partners LLC’s holdings, making the stock its 9th largest holding. Torray Investment Partners LLC’s holdings in American Express were worth $18,389,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. R Squared Ltd purchased a new position in American Express during the first quarter worth $509,000. U.S. Capital Wealth Advisors LLC increased its position in American Express by 15.8% during the first quarter. U.S. Capital Wealth Advisors LLC now owns 8,787 shares of the payment services company’s stock worth $2,364,000 after buying an additional 1,199 shares in the last quarter. Mackenzie Financial Corp increased its position in American Express by 6.6% during the first quarter. Mackenzie Financial Corp now owns 60,634 shares of the payment services company’s stock worth $16,314,000 after buying an additional 3,776 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in American Express by 7.9% during the first quarter. Crossmark Global Holdings Inc. now owns 107,499 shares of the payment services company’s stock worth $28,923,000 after buying an additional 7,874 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in American Express by 2.2% during the second quarter. Nordea Investment Management AB now owns 2,267,377 shares of the payment services company’s stock worth $721,525,000 after buying an additional 49,593 shares in the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Denise Pickett sold 5,000 shares of the business’s stock in a transaction dated 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 owned 7,726 shares in the company, valued at approximately $2,709,739.98. The trade was a 39.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Laureen Seeger sold 61,721 shares of the business’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $297.47, for a total value of $18,360,145.87. Following the completion of the transaction, the insider owned 9,001 shares in the company, valued at approximately $2,677,527.47. This trade represents a 87.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 222,011 shares of company stock valued at $70,725,044. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

AXP has been the topic of several analyst reports. 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 report on Monday, October 20th. UBS Group raised their price objective on American Express from $330.00 to $340.00 and gave the stock a “neutral” rating in a report on Tuesday, October 7th. Morgan Stanley raised their price objective on American Express from $311.00 to $362.00 and gave the stock an “equal weight” rating in a report on Monday, September 29th. Wall Street Zen upgraded American Express from a “hold” rating to a “buy” rating in a report on Saturday. Finally, HSBC set a $295.00 target price on American Express and gave the company a “hold” rating in a report on Friday, October 10th. Nine investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, American Express has an average rating of “Hold” and a consensus target price of $332.65.

American Express Trading Up 0.5%

Shares of AXP opened at $360.70 on Monday. The stock’s 50-day moving average is $335.65 and its two-hundred day moving average is $310.77. The stock has a market cap of $248.47 billion, a PE ratio of 24.21, a P/E/G ratio of 1.90 and a beta of 1.29. American Express Company has a 12 month low of $220.43 and a 12 month high of $365.75. 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 EPS for the quarter, topping analysts’ consensus estimates of $3.98 by $0.16. The company had revenue of $18.43 billion for the quarter, compared to analysts’ expectations of $18.03 billion. American Express had a return on equity of 33.41% and a net margin of 14.97%.The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.49 earnings per share. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. Equities analysts forecast that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Announces Dividend

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 paid a $0.82 dividend. The ex-dividend date is Friday, October 10th. This represents a $3.28 annualized dividend and a dividend yield of 0.9%. American Express’s payout ratio is 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.