Geode Capital Management LLC Acquires 1,349,746 Shares of American Express Company $AXP

Geode Capital Management LLC grew its holdings in American Express Company (NYSE:AXP) by 11.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 13,487,316 shares of the payment services company’s stock after acquiring an additional 1,349,746 shares during the period. Geode Capital Management LLC’s holdings in American Express were worth $4,282,984,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Access Investment Management LLC bought a new stake in American Express in the second quarter valued at $26,000. Briaud Financial Planning Inc purchased a new stake in shares of American Express in the 2nd quarter worth about $26,000. Chung Wu Investment Group LLC bought a new stake in shares of American Express during the 2nd quarter valued at about $37,000. Solstein Capital LLC purchased a new position in shares of American Express during the second quarter valued at about $39,000. Finally, Proffitt & Goodson Inc. bought a new position in American Express in the second quarter worth about $41,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their price objective on American Express from $371.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, July 21st. JPMorgan Chase & Co. lifted their price target on American Express from $343.00 to $355.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. DZ Bank upgraded American Express from a “sell” rating to a “hold” rating and set a $340.00 price objective for the company in a report on Tuesday, October 21st. Wall Street Zen lowered American Express from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Compass Point reaffirmed a “neutral” rating and issued a $324.00 target price on shares of American Express in a research report on Monday, October 20th. Eight investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $332.65.

American Express Trading Up 0.6%

American Express stock opened at $370.04 on Wednesday. American Express Company has a 12 month low of $220.43 and a 12 month high of $373.08. The company has a market capitalization of $254.90 billion, a price-to-earnings ratio of 24.83, a price-to-earnings-growth ratio of 1.90 and a beta of 1.27. The business’s fifty day simple moving average is $341.23 and its two-hundred day simple moving average is $316.19. 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 (NYSE:AXP) last posted its quarterly earnings results on Friday, October 17th. The payment services company reported $4.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.98 by $0.16. The firm had revenue of $18.43 billion during the quarter, compared to analyst estimates of $18.03 billion. American Express had a return on equity of 33.41% and a net margin of 14.97%.American Express’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.49 EPS. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. As a group, equities analysts predict that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Friday, October 10th were paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Friday, October 10th. American Express’s dividend payout ratio is currently 22.01%.

Insider Activity

In other American Express news, insider Denise Pickett sold 5,000 shares of the stock in a transaction on 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 sale, the insider directly owned 7,726 shares in the company, valued at approximately $2,709,739.98. This trade represents a 39.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 23,505 shares of American Express stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $326.37, for a total value of $7,671,326.85. Following the completion of the sale, the insider directly owned 123,613 shares of the company’s stock, valued at approximately $40,343,574.81. The trade was a 15.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 193,292 shares of company stock valued at $65,363,878. Company insiders own 0.20% of the company’s stock.

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.