American Express Company $AXP Shares Purchased by Pinnacle Wealth Management LLC

Pinnacle Wealth Management LLC boosted its position in American Express Company (NYSE:AXP) by 608.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 8,890 shares of the payment services company’s stock after acquiring an additional 7,635 shares during the quarter. American Express makes up 2.4% of Pinnacle Wealth Management LLC’s investment portfolio, making the stock its 13th biggest position. Pinnacle Wealth Management LLC’s holdings in American Express were worth $2,836,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in AXP. Nuveen LLC acquired a new stake in shares of American Express during the first quarter worth approximately $1,454,667,000. Wellington Management Group LLP grew its position in shares of American Express by 13.7% during the first quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company’s stock worth $4,849,777,000 after buying an additional 2,168,445 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of American Express by 25.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,752,690 shares of the payment services company’s stock valued at $1,278,711,000 after purchasing an additional 965,221 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of American Express by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 45,843,893 shares of the payment services company’s stock valued at $12,334,299,000 after purchasing an additional 605,900 shares in the last quarter. Finally, Provident Trust Co. acquired a new stake in shares of American Express in the 1st quarter valued at about $126,119,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

Insider Transactions at American Express

In other American Express news, insider Laureen Seeger sold 61,721 shares of the company’s stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $297.47, for a total value of $18,360,145.87. Following the completion of the transaction, the insider owned 9,001 shares in the company, valued at approximately $2,677,527.47. This represents a 87.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Stephen J. Squeri sold 112,272 shares of the company’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $329.86, for a total transaction 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. This trade represents a 54.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 269,996 shares of company stock worth $85,261,270 in the last quarter. 0.20% of the stock is currently owned by corporate insiders.

American Express Price Performance

Shares of NYSE:AXP opened at $346.45 on Friday. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 1.80. American Express Company has a fifty-two week low of $220.43 and a fifty-two week high of $349.19. The firm has a 50-day simple moving average of $325.64 and a 200 day simple moving average of $302.28. The company has a market cap of $241.09 billion, a PE ratio of 23.25, a P/E/G ratio of 1.82 and a beta of 1.29.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, October 17th. The payment services company reported $4.14 earnings per share for the quarter, beating analysts’ consensus estimates of $3.98 by $0.16. American Express had a net margin of 14.78% and a return on equity of 32.87%. The business had revenue of $18.43 billion during the quarter, compared to the consensus estimate of $18.03 billion. During the same quarter in the prior year, the firm earned $3.49 EPS. The company’s revenue for the quarter 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. On average, sell-side analysts anticipate that American Express Company will post 15.33 EPS for the current year.

American Express Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Friday, October 10th will be given a $0.82 dividend. 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 23.02%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Citigroup restated a “neutral” rating and issued a $327.00 target price (up previously from $300.00) on shares of American Express in a research note on Wednesday, July 2nd. William Blair restated an “outperform” rating on shares of American Express in a research note on Wednesday, July 2nd. Monness Crespi & Hardt lowered shares of American Express from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 15th. Weiss Ratings upgraded shares of American Express from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. Finally, BTIG Research restated a “sell” rating on shares of American Express in a research note on Friday. Nine analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, American Express currently has an average rating of “Hold” and an average target price of $323.60.

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.