Wealthfront Advisers LLC Acquires 13,910 Shares of American Express Company $AXP

Wealthfront Advisers LLC boosted its holdings in shares of American Express Company (NYSE:AXP) by 20.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,058 shares of the payment services company’s stock after purchasing an additional 13,910 shares during the period. Wealthfront Advisers LLC’s holdings in American Express were worth $25,856,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Nuveen LLC acquired a new position in American Express during the 1st quarter worth about $1,454,667,000. Wellington Management Group LLP raised its stake in shares of American Express by 13.7% in 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 acquiring an additional 2,168,445 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of American Express by 25.5% during the first quarter. Goldman Sachs Group Inc. now owns 4,752,690 shares of the payment services company’s stock worth $1,278,711,000 after purchasing an additional 965,221 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of American Express by 1.3% during the first 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 during the last quarter. Finally, Provident Trust Co. acquired a new stake in shares of American Express in the first quarter valued at approximately $126,119,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

Insiders Place Their Bets

In other news, insider Anna Marrs sold 5,500 shares of the company’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 in the company, valued at $6,312,049.47. This represents a 21.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Laureen Seeger sold 61,721 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $2,677,527.47. The trade was a 87.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 277,511 shares of company stock worth $87,909,279 in the last three months. 0.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on AXP. Truist Financial upped their price objective on American Express from $375.00 to $395.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Keefe, Bruyette & Woods raised their price target on American Express from $371.00 to $394.00 and gave the company an “outperform” rating in a report on Wednesday, October 1st. Monness Crespi & Hardt lowered shares of American Express from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 15th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of American Express from $371.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, July 21st. Finally, William Blair reaffirmed an “outperform” rating on shares of American Express in a research note on Wednesday, July 2nd. Nine investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $332.65.

American Express Stock Up 0.7%

Shares of NYSE AXP opened at $357.29 on Friday. The firm has a 50 day moving average price of $330.62 and a 200 day moving average price of $306.39. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.69 and a current ratio of 1.61. The stock has a market cap of $246.12 billion, a P/E ratio of 23.98, a P/E/G ratio of 1.85 and a beta of 1.29. American Express Company has a 52-week low of $220.43 and a 52-week high of $362.32.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, October 17th. The payment services company reported $4.14 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $18.03 billion. During the same period last year, the firm posted $3.49 earnings per share. The business’s quarterly 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. Analysts expect that American Express Company will post 15.33 EPS for the current year.

American Express Announces Dividend

The firm also recently declared 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 of this dividend is 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 (DPR) 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.