Burling Wealth Partners LLC Acquires New Shares in American Express Company $AXP

Burling Wealth Partners LLC bought a new position in shares of American Express Company (NYSE:AXP) during the 2nd quarter, HoldingsChannel reports. The firm bought 1,239 shares of the payment services company’s stock, valued at approximately $395,000.

A number of other institutional investors have also added to or reduced their stakes in AXP. Nixon Peabody Trust Co. lifted its position in shares of American Express by 3.9% in the 2nd quarter. Nixon Peabody Trust Co. now owns 7,627 shares of the payment services company’s stock worth $2,433,000 after purchasing an additional 283 shares during the period. Trustco Bank Corp N Y raised its stake in American Express by 3.4% in the second quarter. Trustco Bank Corp N Y now owns 9,059 shares of the payment services company’s stock worth $2,890,000 after buying an additional 300 shares in the last quarter. Hibernia Wealth Partners LLC purchased a new stake in American Express during the second quarter worth $427,000. Intrua Financial LLC bought a new stake in American Express during the 2nd quarter valued at $261,000. Finally, Arvest Bank Trust Division increased its holdings in shares of American Express by 0.8% in the 2nd quarter. Arvest Bank Trust Division now owns 24,310 shares of the payment services company’s stock valued at $7,754,000 after acquiring an additional 189 shares during the period. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Stock Performance

Shares of American Express stock opened at $356.87 on Friday. The company has a 50 day moving average price of $343.50 and a 200 day moving average price of $317.55. The firm has a market capitalization of $245.83 billion, a P/E ratio of 23.95, a PEG ratio of 1.90 and a beta of 1.27. The company has a quick ratio of 1.59, a current ratio of 1.61 and a debt-to-equity ratio of 1.78. American Express Company has a 52 week low of $220.43 and a 52 week high of $377.23.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, October 17th. The payment services company reported $4.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.98 by $0.16. The business had revenue of $17.14 billion for the quarter, compared to analyst estimates of $18.03 billion. American Express had a net margin of 14.97% and a return on equity of 33.41%. American Express’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.49 EPS. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. Sell-side analysts expect that American Express Company will post 15.33 EPS for the current year.

American Express Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 10th. Investors of record on Friday, October 10th were paid a $0.82 dividend. The ex-dividend date was 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 (DPR) is 22.01%.

Insider Activity at American Express

In other American Express 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 transaction of $1,753,650.00. Following the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Stephen J. Squeri sold 112,272 shares of the firm’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $329.86, for a total value of $37,034,041.92. Following the completion of the transaction, the chief executive officer owned 92,810 shares of the company’s stock, valued at approximately $30,614,306.60. The trade was a 54.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 193,292 shares of company stock worth $65,363,878 in the last quarter. 0.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

AXP has been the subject of a number of analyst reports. Morgan Stanley upped their price objective on American Express from $311.00 to $362.00 and gave the stock an “equal weight” rating in a research note on Monday, September 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of American Express in a research report on Thursday. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of American Express from $371.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. Wall Street Zen lowered shares of American Express from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. Finally, BTIG Research raised their target price on shares of American Express from $277.00 to $307.00 and gave the company a “sell” rating in a research note on Friday, October 17th. Eight analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, American Express currently has an average rating of “Hold” and an average target price of $332.65.

About American Express

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.