Silicon Valley Capital Partners Reduces Stock Holdings in American Express Company $AXP

Silicon Valley Capital Partners cut its position in shares of American Express Company (NYSE:AXP) by 3.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,217 shares of the payment services company’s stock after selling 1,398 shares during the period. American Express makes up 1.4% of Silicon Valley Capital Partners’ holdings, making the stock its 22nd biggest holding. Silicon Valley Capital Partners’ holdings in American Express were worth $13,785,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in American Express in the second quarter valued at $1,897,335,000. Wellington Management Group LLP raised its holdings in American Express by 13.7% in the 1st quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company’s stock valued at $4,849,777,000 after buying an additional 2,168,445 shares during the period. Laurel Wealth Advisors LLC lifted its position in American Express by 31,595.9% in the second quarter. Laurel Wealth Advisors LLC now owns 1,742,009 shares of the payment services company’s stock valued at $555,666,000 after buying an additional 1,736,513 shares during the last quarter. Geode Capital Management LLC lifted its position in American Express by 11.1% in the second quarter. Geode Capital Management LLC now owns 13,487,316 shares of the payment services company’s stock valued at $4,282,984,000 after buying an additional 1,349,746 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in American Express by 26.1% during the second quarter. Ameriprise Financial Inc. now owns 3,125,133 shares of the payment services company’s stock worth $988,676,000 after buying an additional 646,039 shares during the period. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on AXP shares. Truist Financial boosted their price target on shares of American Express from $375.00 to $395.00 and gave the company a “buy” rating in a research note on Monday, October 20th. Wolfe Research began coverage on American Express in a research report on Monday, December 8th. They issued a “peer perform” rating on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of American Express in a research note on Monday, December 8th. Wells Fargo & Company lifted 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 boosted their price objective on American Express from $311.00 to $362.00 and gave the company an “equal weight” rating in a report on Monday, September 29th. Nine equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, American Express presently has a consensus rating of “Hold” and an average target price of $332.65.

Insider Activity

In other news, CMO Elizabeth Rutledge sold 50,000 shares of American Express stock in a transaction on Friday, October 31st. The shares were sold at an average price of $360.21, for a total transaction of $18,010,500.00. Following the completion of the sale, the chief marketing officer directly owned 85,577 shares of the company’s stock, valued at approximately $30,825,691.17. The trade was a 36.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Denise Pickett sold 5,000 shares of the stock in a transaction on Wednesday, October 22nd. The shares were sold at an average price of $350.73, for a total value of $1,753,650.00. Following the completion of the transaction, the insider directly owned 7,726 shares in the company, valued at $2,709,739.98. This trade represents a 39.29% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 57,515 shares of company stock worth $20,658,509. 0.20% of the stock is currently owned by corporate insiders.

American Express Price Performance

Shares of NYSE AXP opened at $382.14 on Monday. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.61 and a quick ratio of 1.59. The company has a market cap of $263.23 billion, a price-to-earnings ratio of 25.65, a price-to-earnings-growth ratio of 1.72 and a beta of 1.14. The stock’s 50-day moving average is $354.78 and its two-hundred day moving average is $328.59. American Express Company has a 1-year low of $220.43 and a 1-year high of $387.49.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, October 17th. The payment services company reported $4.14 EPS 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 business had revenue of $17.14 billion during the quarter, compared to the consensus estimate of $18.03 billion. During the same period in the previous year, the company posted $3.49 earnings per share. 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. Analysts forecast that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Dividend Announcement

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

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.