Benin Management CORP Sells 1,075 Shares of American Express Company $AXP

Benin Management CORP lowered its stake in shares of American Express Company (NYSE:AXP) by 28.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,763 shares of the payment services company’s stock after selling 1,075 shares during the quarter. Benin Management CORP’s holdings in American Express were worth $881,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. raised its position in American Express by 5.5% during the first quarter. Principal Financial Group Inc. now owns 680,308 shares of the payment services company’s stock valued at $183,037,000 after acquiring an additional 35,295 shares in the last quarter. Pinnacle Financial Partners Inc raised its position in American Express by 1.4% in the first quarter. Pinnacle Financial Partners Inc now owns 167,534 shares of the payment services company’s stock valued at $45,243,000 after purchasing an additional 2,259 shares during the period. R Squared Ltd purchased a new stake in shares of American Express in the 1st quarter valued at $509,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of American Express by 6.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,458 shares of the payment services company’s stock valued at $25,088,000 after buying an additional 5,693 shares during the period. Finally, Navis Wealth Advisors LLC grew its stake in American Express by 368.7% during the 1st quarter. Navis Wealth Advisors LLC now owns 3,548 shares of the payment services company’s stock worth $955,000 after purchasing an additional 2,791 shares in the last quarter. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

American Express Trading Up 1.8%

NYSE:AXP opened at $355.76 on Wednesday. The business’s 50-day moving average is $327.75 and its two-hundred day moving average is $303.83. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.61 and a quick ratio of 1.69. American Express Company has a 12 month low of $220.43 and a 12 month high of $356.67. The firm has a market capitalization of $245.06 billion, a PE ratio of 23.88, a price-to-earnings-growth ratio of 1.85 and a beta of 1.29.

American Express (NYSE:AXP) last announced its earnings results on Friday, October 17th. The payment services company reported $4.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.98 by $0.16. The business had revenue of $18.43 billion for the quarter, compared to analyst estimates of $18.03 billion. American Express had a return on equity of 33.41% and a net margin of 14.97%.The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the previous year, the company earned $3.49 earnings per share. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. Research analysts predict that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Dividend Announcement

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

Insider Buying and Selling at American Express

In other American Express news, insider Glenda G. Mcneal sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total value of $15,475,000.00. Following the completion of the sale, the insider directly owned 10,957 shares in the company, valued at $3,391,191.50. This represents a 82.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Laureen Seeger sold 61,721 shares of the company’s stock in a transaction on 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 directly owned 9,001 shares in the company, valued at $2,677,527.47. This represents a 87.27% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 269,996 shares of company stock valued at $85,261,270. 0.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on AXP shares. UBS Group upped their price objective on American Express from $330.00 to $340.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Compass Point reaffirmed a “neutral” rating and set a $324.00 price objective on shares of American Express in a research note on Monday. Keefe, Bruyette & Woods increased their target price on American Express from $371.00 to $394.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. JPMorgan Chase & Co. upped their target price on American Express from $343.00 to $355.00 and gave the company a “neutral” rating in a report on Tuesday, October 7th. Finally, Weiss Ratings upgraded American Express from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. Nine equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target 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.