American Express Company $AXP Shares Acquired by Granite Harbor Advisors Inc.

Granite Harbor Advisors Inc. grew its position in American Express Company (NYSE:AXP) by 9.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 847 shares of the payment services company’s stock after purchasing an additional 71 shares during the quarter. Granite Harbor Advisors Inc.’s holdings in American Express were worth $270,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC raised its stake in American Express by 24.4% during the 4th quarter. Brighton Jones LLC now owns 6,481 shares of the payment services company’s stock worth $1,924,000 after acquiring an additional 1,273 shares in the last quarter. GAMMA Investing LLC raised its stake in American Express by 3.1% during the 1st quarter. GAMMA Investing LLC now owns 8,039 shares of the payment services company’s stock worth $2,163,000 after acquiring an additional 238 shares in the last quarter. Global Assets Advisory LLC acquired a new stake in American Express during the 1st quarter worth $638,000. E&G Advisors LP raised its stake in American Express by 8.7% during the 1st quarter. E&G Advisors LP now owns 1,251 shares of the payment services company’s stock worth $337,000 after acquiring an additional 100 shares in the last quarter. Finally, Riverbend Wealth Management LLC raised its stake in American Express by 4.1% during the 1st quarter. Riverbend Wealth Management LLC now owns 4,036 shares of the payment services company’s stock worth $1,086,000 after acquiring an additional 159 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on AXP shares. UBS Group lifted their price target 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. Royal Bank Of Canada restated an “outperform” rating on shares of American Express in a research note on Monday, July 14th. Keefe, Bruyette & Woods lifted their price objective on shares of American Express from $371.00 to $394.00 and gave the company an “outperform” rating in a research note on Wednesday, October 1st. Wells Fargo & Company lifted their target price on shares of American Express from $375.00 to $400.00 and gave the company an “overweight” rating in a report on Monday. Finally, HSBC set a $295.00 target price on shares of American Express and gave the company a “hold” rating in a report on Friday, October 10th. 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 company. According to data from MarketBeat, American Express has a consensus rating of “Hold” and an average target price of $332.65.

American Express Stock Down 1.0%

AXP stock opened at $351.68 on Thursday. The company has a market cap of $242.25 billion, a P/E ratio of 23.60, a P/E/G ratio of 1.84 and a beta of 1.29. American Express Company has a 52 week low of $220.43 and a 52 week high of $357.73. The company’s 50-day moving average price is $328.64 and its 200 day moving average price is $304.16. The company has a current ratio of 1.61, a quick ratio of 1.69 and a debt-to-equity ratio of 1.78.

American Express (NYSE:AXP) last released 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. The firm had revenue of $18.43 billion for the quarter, compared to the consensus estimate of $18.03 billion. American Express had a net margin of 14.97% and a return on equity of 33.41%. The firm’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.49 earnings per share. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. On average, research analysts expect that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Dividend Announcement

The firm 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 dividend of $0.82 per share. The ex-dividend date is Friday, October 10th. This represents a $3.28 dividend on an annualized basis and a yield of 0.9%. American Express’s payout ratio is presently 22.01%.

Insider Activity at American Express

In other news, insider Anna Marrs sold 5,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $310.77, for a total value of $1,709,235.00. Following the completion of the transaction, the insider owned 20,311 shares of the company’s stock, valued at $6,312,049.47. The trade was a 21.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Laureen Seeger sold 61,721 shares of the business’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $297.47, for a total transaction of $18,360,145.87. Following the sale, the insider owned 9,001 shares of the company’s stock, valued at approximately $2,677,527.47. This represents a 87.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 269,996 shares of company stock valued at $85,261,270 in the last quarter. 0.20% of the stock is owned by corporate insiders.

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.