Penserra Capital Management LLC Sells 344 Shares of American Express Company $AXP

Penserra Capital Management LLC trimmed its stake in American Express Company (NYSE:AXP) by 0.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 62,111 shares of the payment services company’s stock after selling 344 shares during the quarter. Penserra Capital Management LLC’s holdings in American Express were worth $19,811,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. R Squared Ltd purchased a new stake in shares of American Express during the first quarter valued at $509,000. Mackenzie Financial Corp raised its position in American Express by 6.6% in the 1st 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 during the last quarter. Nordea Investment Management AB lifted its stake in American Express by 2.2% during the 2nd quarter. Nordea Investment Management AB now owns 2,267,377 shares of the payment services company’s stock valued at $721,525,000 after acquiring an additional 49,593 shares during the period. Bridgewater Advisors Inc. purchased a new stake in shares of American Express during the 1st quarter valued at about $2,185,000. Finally, Dempze Nancy E grew its stake in shares of American Express by 210.2% in the second quarter. Dempze Nancy E now owns 3,459 shares of the payment services company’s stock worth $1,103,000 after acquiring an additional 2,344 shares during the period. 84.33% of the stock is currently owned by institutional investors.

American Express Stock Performance

NYSE:AXP opened at $368.90 on Friday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.59 and a current ratio of 1.61. The stock has a 50-day simple moving average of $339.73 and a two-hundred day simple moving average of $313.93. The firm has a market capitalization of $254.12 billion, a PE ratio of 24.76, a P/E/G ratio of 1.90 and a beta of 1.27. American Express Company has a 52-week low of $220.43 and a 52-week high of $370.00.

American Express (NYSE:AXP) last posted its quarterly earnings data on Friday, October 17th. The payment services company reported $4.14 earnings per share for the quarter, beating analysts’ consensus estimates of $3.98 by $0.16. The firm 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 business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.49 EPS. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. Analysts forecast that American Express Company will post 15.33 EPS for the current year.

American Express Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Friday, October 10th will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, October 10th. American Express’s dividend payout ratio (DPR) is presently 22.01%.

Insider Activity at American Express

In related news, CMO Elizabeth Rutledge sold 50,000 shares of the company’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $360.21, for a total value of $18,010,500.00. Following the completion of the transaction, the chief marketing officer owned 85,577 shares of the company’s stock, valued at approximately $30,825,691.17. This represents a 36.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Douglas Tabish sold 2,515 shares of the firm’s stock in a transaction dated Thursday, October 23rd. The shares were 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 in the company, valued at approximately $894,359.15. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 193,292 shares of company stock worth $65,363,878 in the last 90 days. Company insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on AXP shares. Weiss Ratings upgraded shares of American Express from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods upped their price objective on American Express from $371.00 to $394.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. Truist Financial increased their target price on American Express from $375.00 to $395.00 and gave the company a “buy” rating in a report on Monday, October 20th. Compass Point restated a “neutral” rating and set a $324.00 price target on shares of American Express in a research note on Monday, October 20th. Finally, Morgan Stanley upped their price target on shares of American Express from $311.00 to $362.00 and gave the company an “equal weight” rating in a research report on Monday, September 29th. Nine investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $332.65.

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.