PGIM Custom Harvest LLC Sells 1,589 Shares of American Express Company $AXP

PGIM Custom Harvest LLC reduced its stake in shares of American Express Company (NYSE:AXP) by 33.2% in the second quarter, Holdings Channel reports. The fund owned 3,197 shares of the payment services company’s stock after selling 1,589 shares during the quarter. PGIM Custom Harvest LLC’s holdings in American Express were worth $1,020,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Capital Asset Advisory Services LLC grew its holdings in American Express by 2.8% during the second quarter. Capital Asset Advisory Services LLC now owns 1,191 shares of the payment services company’s stock valued at $384,000 after purchasing an additional 32 shares during the period. DLK Investment Management LLC lifted its position in shares of American Express by 3.8% during the 2nd quarter. DLK Investment Management LLC now owns 869 shares of the payment services company’s stock valued at $277,000 after buying an additional 32 shares during the last quarter. Bahl & Gaynor Inc. grew its stake in shares of American Express by 1.0% during the 2nd quarter. Bahl & Gaynor Inc. now owns 3,291 shares of the payment services company’s stock worth $1,050,000 after acquiring an additional 33 shares during the period. PFG Advisors increased its holdings in American Express by 0.7% in the 2nd quarter. PFG Advisors now owns 5,059 shares of the payment services company’s stock worth $1,614,000 after acquiring an additional 34 shares during the last quarter. Finally, Financial Engines Advisors L.L.C. raised its stake in American Express by 4.7% in the 1st quarter. Financial Engines Advisors L.L.C. now owns 772 shares of the payment services company’s stock valued at $208,000 after acquiring an additional 35 shares during the period. Institutional investors own 84.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. UBS Group lifted their target price on shares of American Express from $330.00 to $340.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 7th. BTIG Research boosted their target price on shares of American Express from $277.00 to $307.00 and gave the company a “sell” rating in a report on Friday, October 17th. HSBC set a $295.00 target price on American Express and gave the stock a “hold” rating in a research report on Friday, October 10th. Wall Street Zen lowered American Express from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. Finally, Wells Fargo & Company raised their target price on American Express from $375.00 to $400.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Nine research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $332.65.

American Express Stock Performance

NYSE:AXP opened at $370.39 on Friday. The stock has a market cap of $255.14 billion, a P/E ratio of 24.86, a PEG ratio of 1.67 and a beta of 1.14. The company has a quick ratio of 1.59, a current ratio of 1.61 and a debt-to-equity ratio of 1.78. The business’s 50-day moving average price is $350.69 and its two-hundred day moving average price is $325.12. American Express Company has a twelve month low of $220.43 and a twelve month high of $377.23.

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, topping the consensus estimate of $3.98 by $0.16. The company had revenue of $17.14 billion for the quarter, compared to analysts’ expectations 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 period in the prior year, the business earned $3.49 earnings per share. 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 EPS for the current fiscal year.

American Express Announces Dividend

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

Insider Transactions at American Express

In other news, insider Douglas Tabish sold 2,515 shares of the company’s stock in a transaction dated Thursday, October 23rd. The stock was sold at an average price of $355.61, for a total value of $894,359.15. Following the completion of the transaction, the insider directly owned 2,515 shares in the company, valued at approximately $894,359.15. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Elizabeth Rutledge sold 50,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief marketing officer directly owned 85,577 shares in the company, valued at approximately $30,825,691.17. This represents a 36.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 57,515 shares of company stock valued at $20,658,509. Insiders own 0.20% of the company’s stock.

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.