Commonwealth Equity Services LLC Has $96.90 Million Holdings in American Express Company $AXP

Commonwealth Equity Services LLC trimmed its holdings in shares of American Express Company (NYSE:AXP) by 3.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 303,772 shares of the payment services company’s stock after selling 10,379 shares during the quarter. Commonwealth Equity Services LLC’s holdings in American Express were worth $96,897,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in AXP. Briaud Financial Planning Inc acquired a new position in shares of American Express during the 2nd quarter valued at about $26,000. Access Investment Management LLC bought a new stake in American Express during the second quarter worth approximately $26,000. Hughes Financial Services LLC acquired a new position in American Express during the first quarter valued at approximately $35,000. 1 North Wealth Services LLC bought a new position in shares of American Express in the first quarter valued at approximately $37,000. Finally, Chung Wu Investment Group LLC bought a new stake in shares of American Express during the 2nd quarter worth $37,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Trading Down 0.0%

Shares of AXP opened at $365.74 on Friday. The stock’s 50-day moving average price is $338.99 and its 200 day moving average price is $313.05. The company has a quick ratio of 1.59, a current ratio of 1.61 and a debt-to-equity ratio of 1.78. The firm has a market capitalization of $251.94 billion, a price-to-earnings ratio of 24.55, a P/E/G ratio of 1.90 and a beta of 1.27. American Express Company has a 12-month low of $220.43 and a 12-month high of $369.26.

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, topping the consensus estimate of $3.98 by $0.16. The company 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%.American Express’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter last year, the firm earned $3.49 EPS. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. As a group, research analysts predict that American Express Company will post 15.33 earnings per share for the current year.

American Express Announces Dividend

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 paid a $0.82 dividend. The ex-dividend date 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 is currently 22.01%.

Analysts Set New Price Targets

AXP has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on shares of American Express from $343.00 to $355.00 and gave the stock a “neutral” rating in a report on Tuesday, October 7th. BTIG Research raised their price target on American Express from $277.00 to $307.00 and gave the company a “sell” rating in a research report on Friday, October 17th. Monness Crespi & Hardt cut American Express from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 15th. Wells Fargo & Company raised their target price on American Express from $375.00 to $400.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Finally, Morgan Stanley lifted their price target on American Express from $311.00 to $362.00 and gave the stock an “equal weight” rating in a research report on Monday, September 29th. 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 company. According to MarketBeat.com, American Express has a consensus rating of “Hold” and an average price target of $332.65.

Insider Activity at American Express

In other news, Vice Chairman Douglas E. Buckminster sold 23,505 shares of American Express stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $326.37, for a total transaction of $7,671,326.85. Following the sale, the insider directly owned 123,613 shares in the company, valued at approximately $40,343,574.81. The trade was a 15.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stephen J. Squeri sold 112,272 shares of the company’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $329.86, for a total transaction of $37,034,041.92. Following the completion of the sale, the chief executive officer directly owned 92,810 shares in the company, valued at approximately $30,614,306.60. The trade was a 54.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 193,292 shares of company stock worth $65,363,878 in the last ninety days. Company insiders own 0.20% of the company’s stock.

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.