Modera Wealth Management LLC Grows Position in American Express Company $AXP

Modera Wealth Management LLC raised its holdings in American Express Company (NYSE:AXP) by 1.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,691 shares of the payment services company’s stock after acquiring an additional 247 shares during the period. Modera Wealth Management LLC’s holdings in American Express were worth $6,281,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. R Squared Ltd acquired a new position in American Express in the first quarter valued at approximately $509,000. Mackenzie Financial Corp raised its position in American Express by 6.6% in the first quarter. Mackenzie Financial Corp now owns 60,634 shares of the payment services company’s stock valued at $16,314,000 after purchasing an additional 3,776 shares during the period. Nordea Investment Management AB raised its position in American Express by 2.2% in the second quarter. Nordea Investment Management AB now owns 2,267,377 shares of the payment services company’s stock valued at $721,525,000 after purchasing an additional 49,593 shares during the period. Bridgewater Advisors Inc. acquired a new position in shares of American Express in the 1st quarter valued at $2,185,000. Finally, Dempze Nancy E grew its holdings in shares of American Express by 210.2% during the 2nd quarter. Dempze Nancy E now owns 3,459 shares of the payment services company’s stock worth $1,103,000 after purchasing an additional 2,344 shares during the period. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AXP has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upped their target price on shares of American Express from $343.00 to $355.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Monness Crespi & Hardt cut shares of American Express from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 15th. Morgan Stanley upped their price objective on shares of American Express from $311.00 to $362.00 and gave the stock an “equal weight” rating in a report on Monday, September 29th. DZ Bank raised shares of American Express from a “sell” rating to a “hold” rating and set a $340.00 price objective for the company in a research report on Tuesday, October 21st. Finally, HSBC set a $295.00 target price on American Express and gave the company a “hold” rating in a research report on Friday, October 10th. Nine equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, American Express currently has a consensus rating of “Hold” and an average target price of $332.65.

American Express Trading Up 0.9%

Shares of AXP stock opened at $368.90 on Friday. American Express Company has a fifty-two week low of $220.43 and a fifty-two week high of $370.00. The company has a 50 day moving average price of $339.73 and a 200 day moving average price of $313.93. The stock has a market capitalization of $254.12 billion, a P/E ratio of 24.76, a price-to-earnings-growth ratio of 1.90 and a beta of 1.27. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.59 and a current ratio of 1.61.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, October 17th. The payment services company reported $4.14 EPS for the quarter, beating the consensus estimate of $3.98 by $0.16. American Express had a net margin of 14.97% and a return on equity of 33.41%. The company had revenue of $18.43 billion during the quarter, compared to analysts’ expectations of $18.03 billion. During the same quarter last year, the company posted $3.49 EPS. The firm’s revenue was up 11.0% compared to the same quarter last year. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. Equities research analysts predict that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Friday, October 10th will be issued a dividend of $0.82 per share. The ex-dividend date is Friday, October 10th. This represents a $3.28 annualized dividend and a yield of 0.9%. American Express’s dividend payout ratio is 22.01%.

Insider Buying and Selling

In related news, insider Douglas Tabish sold 2,515 shares of the company’s stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $355.61, for a total transaction of $894,359.15. Following the sale, the insider directly owned 2,515 shares in the company, valued at approximately $894,359.15. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Douglas E. Buckminster sold 23,505 shares of American Express stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $326.37, for a total transaction of $7,671,326.85. Following the completion of the transaction, the insider owned 123,613 shares of the company’s stock, valued at $40,343,574.81. This represents a 15.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 193,292 shares of company stock worth $65,363,878 over the last ninety days. Company 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.