First Dallas Securities Inc. Lowers Position in American Express Company $AXP

First Dallas Securities Inc. decreased its holdings in shares of American Express Company (NYSE:AXP) by 5.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,873 shares of the payment services company’s stock after selling 289 shares during the quarter. First Dallas Securities Inc.’s holdings in American Express were worth $1,554,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of AXP. Nuveen LLC bought a new position in shares of American Express in the 1st quarter worth $1,454,667,000. Wellington Management Group LLP lifted its holdings in shares of American Express by 13.7% during the 1st quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company’s stock worth $4,849,777,000 after acquiring an additional 2,168,445 shares during the last quarter. Goldman Sachs Group Inc. grew 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 worth $1,278,711,000 after acquiring an additional 965,221 shares in the last quarter. Provident Trust Co. increased its stake in American Express by 136.6% in the second quarter. Provident Trust Co. now owns 1,108,971 shares of the payment services company’s stock valued at $353,740,000 after acquiring an additional 640,214 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in American Express by 1.3% during 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 in the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other American Express news, insider Douglas Tabish sold 2,515 shares of the firm’s stock in a transaction on Thursday, October 23rd. The stock was sold at an average price of $355.61, for a total transaction of $894,359.15. Following the completion of the transaction, the insider owned 2,515 shares of the company’s stock, valued at approximately $894,359.15. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Denise Pickett sold 5,000 shares of the company’s stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $350.73, for a total transaction of $1,753,650.00. Following the completion of the sale, the insider directly owned 7,726 shares in the company, valued at $2,709,739.98. This represents a 39.29% 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 valued at $65,363,878 in the last 90 days. Corporate insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

AXP has been the subject of a number of research reports. Monness Crespi & Hardt cut American Express from a “buy” rating to a “neutral” rating in a report on Tuesday, July 15th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of American Express in a research note on Monday, July 14th. JPMorgan Chase & Co. lifted their target price on shares of American Express from $343.00 to $355.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Wells Fargo & Company raised their price objective on American Express from $375.00 to $400.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Finally, Morgan Stanley lifted 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. Eight research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, American Express currently has an average rating of “Hold” and an average price target of $332.65.

American Express Trading Up 0.9%

Shares of AXP opened at $368.90 on Monday. The company has a current ratio of 1.61, a quick ratio of 1.59 and a debt-to-equity ratio of 1.78. American Express Company has a 1-year low of $220.43 and a 1-year high of $370.00. The firm’s 50-day moving average price is $339.73 and its 200-day moving average price is $314.74. The firm has a market capitalization of $254.12 billion, a price-to-earnings ratio of 24.76, a PEG ratio of 1.90 and a beta of 1.27.

American Express (NYSE:AXP) last posted its earnings results on Friday, October 17th. The payment services company reported $4.14 earnings per share 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 the consensus estimate of $18.03 billion. During the same quarter in the prior year, the business earned $3.49 EPS. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. Sell-side analysts anticipate 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. Shareholders of record on Friday, October 10th will be issued a $0.82 dividend. The ex-dividend date is Friday, October 10th. This represents a $3.28 dividend on an annualized basis and a yield of 0.9%. American Express’s dividend payout ratio is 22.01%.

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.