Peregrine Asset Advisers Inc. Takes Position in American Express Company $AXP

Peregrine Asset Advisers Inc. acquired a new stake in American Express Company (NYSE:AXP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,279 shares of the payment services company’s stock, valued at approximately $727,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. R Squared Ltd purchased a new position in shares of American Express in the 1st quarter valued at about $509,000. U.S. Capital Wealth Advisors LLC increased its stake in shares of American Express by 15.8% in the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 8,787 shares of the payment services company’s stock valued at $2,364,000 after purchasing an additional 1,199 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of American Express by 6.6% in the 1st 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 in the last quarter. Crossmark Global Holdings Inc. increased its stake in shares of American Express by 7.9% in the 1st quarter. Crossmark Global Holdings Inc. now owns 107,499 shares of the payment services company’s stock valued at $28,923,000 after purchasing an additional 7,874 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of American Express by 2.2% in the 2nd 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 in the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

Insider Activity at American Express

In other American Express news, insider Laureen Seeger sold 61,721 shares of the company’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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $326.37, for a total value of $7,671,326.85. Following the transaction, the insider owned 123,613 shares in the company, valued at $40,343,574.81. This trade represents a 15.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 222,011 shares of company stock valued at $70,725,044 over the last ninety days. 0.20% of the stock is owned by insiders.

American Express Trading Up 0.5%

AXP opened at $360.70 on Monday. American Express Company has a one year low of $220.43 and a one year high of $365.75. The stock has a market capitalization of $248.47 billion, a PE ratio of 24.21, a P/E/G ratio of 1.90 and a beta of 1.29. The business’s 50 day moving average price is $335.65 and its 200 day moving average price is $310.77. 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 released its quarterly earnings results 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. American Express had a return on equity of 33.41% and a net margin of 14.97%.The company had revenue of $18.43 billion for the quarter, compared to analysts’ expectations of $18.03 billion. During the same period in the prior year, the firm earned $3.49 earnings per share. 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. As a group, equities research analysts expect that American Express Company will post 15.33 EPS for the current year.

American Express Dividend Announcement

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

Analyst Upgrades and Downgrades

AXP has been the subject of several recent analyst reports. DZ Bank upgraded American Express from a “sell” rating to a “hold” rating and set a $340.00 price target for the company in a research note on Tuesday, October 21st. HSBC set a $295.00 price objective on American Express and gave the stock a “hold” rating in a research note on Friday, October 10th. UBS Group boosted their price objective on American Express from $330.00 to $340.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 7th. Evercore ISI boosted their price objective on American Express from $330.00 to $365.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Finally, Keefe, Bruyette & Woods boosted their price objective on American Express from $371.00 to $394.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. Nine equities 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.com, the company currently has an average rating of “Hold” and an average target price 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.