Cornerstone Investment Partners LLC Sells 23,282 Shares of American Express Company $AXP

Cornerstone Investment Partners LLC lessened its stake in American Express Company (NYSE:AXP) by 11.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 175,429 shares of the payment services company’s stock after selling 23,282 shares during the period. American Express accounts for 2.5% of Cornerstone Investment Partners LLC’s portfolio, making the stock its 21st largest holding. Cornerstone Investment Partners LLC’s holdings in American Express were worth $55,958,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of AXP. Access Investment Management LLC acquired a new position in shares of American Express during the second quarter valued at $26,000. Briaud Financial Planning Inc bought a new stake in American Express during the 2nd quarter worth about $26,000. Chung Wu Investment Group LLC bought a new stake in American Express during the 2nd quarter worth about $37,000. Solstein Capital LLC acquired a new position in American Express during the 2nd quarter valued at about $39,000. Finally, Hughes Financial Services LLC bought a new position in shares of American Express in the 1st quarter valued at about $35,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Price Performance

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

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

American Express Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors 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 of this dividend is Friday, October 10th. American Express’s dividend payout ratio is presently 22.01%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Barclays lifted their price target on shares of American Express from $336.00 to $355.00 and gave the stock an “equal weight” rating in a research report on Monday, October 20th. UBS Group lifted their target price on shares of American Express from $330.00 to $340.00 and gave the stock a “neutral” rating in a report on Tuesday, October 7th. BTIG Research upped their target price on shares of 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 lowered American Express from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 15th. Finally, Compass Point reaffirmed a “neutral” rating and set a $324.00 price objective on shares of American Express in a research note on Monday, October 20th. 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, the company presently has a consensus rating of “Hold” and an average price target of $332.65.

Insider Activity

In other American Express news, CEO Stephen J. Squeri sold 112,272 shares of American Express stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $329.86, for a total value of $37,034,041.92. Following the transaction, the chief executive officer owned 92,810 shares of the company’s stock, valued at approximately $30,614,306.60. The trade was a 54.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Douglas Tabish sold 2,515 shares of the stock in a transaction on Thursday, October 23rd. The stock was sold at an average price of $355.61, for a total transaction of $894,359.15. Following the sale, the insider directly owned 2,515 shares of the company’s stock, valued at $894,359.15. This represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 193,292 shares of company stock worth $65,363,878. Corporate insiders own 0.20% of the company’s stock.

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.