Geode Capital Management LLC Buys 1,349,746 Shares of American Express Company $AXP

Geode Capital Management LLC raised its stake in shares of American Express Company (NYSE:AXP) by 11.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,487,316 shares of the payment services company’s stock after buying an additional 1,349,746 shares during the quarter. Geode Capital Management LLC owned about 1.94% of American Express worth $4,282,984,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Briaud Financial Planning Inc bought a new stake in American Express during the 2nd quarter worth approximately $26,000. Access Investment Management LLC purchased a new position in shares of American Express during the 2nd quarter valued at $26,000. 1 North Wealth Services LLC bought a new position in shares of American Express in the first quarter worth $37,000. Chung Wu Investment Group LLC purchased a new stake in shares of American Express in the second quarter worth $37,000. Finally, Solstein Capital LLC bought a new stake in American Express during the second quarter valued at $39,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Wells Fargo & Company upped their target price on American Express from $375.00 to $400.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Morgan Stanley raised their target price on shares of American Express from $311.00 to $362.00 and gave the company an “equal weight” rating in a research note on Monday, September 29th. DZ Bank raised shares of 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. Wall Street Zen cut shares of American Express from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Monness Crespi & Hardt lowered shares of American Express from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 15th. Eight equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $332.65.

Insiders Place Their Bets

In other American Express news, CMO Elizabeth Rutledge sold 50,000 shares of American Express stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $360.21, for a total value of $18,010,500.00. Following the transaction, the chief marketing officer directly owned 85,577 shares of the company’s stock, valued at $30,825,691.17. The trade was a 36.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas Tabish sold 2,515 shares of the stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $355.61, for a total value of $894,359.15. Following the sale, the insider directly owned 2,515 shares of the company’s stock, valued at approximately $894,359.15. This trade represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 193,292 shares of company stock worth $65,363,878. 0.20% of the stock is currently owned by corporate insiders.

American Express Price Performance

AXP stock opened at $370.04 on Wednesday. The firm has a market cap of $254.90 billion, a P/E ratio of 24.83, a P/E/G ratio of 1.90 and a beta of 1.27. The firm’s fifty day moving average is $341.23 and its 200 day moving average is $316.19. American Express Company has a 52 week low of $220.43 and a 52 week high of $373.08. 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 posted its quarterly earnings results on Friday, October 17th. The payment services company reported $4.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.98 by $0.16. American Express had a net margin of 14.97% and a return on equity of 33.41%. The business had revenue of $18.43 billion during the quarter, compared to analyst estimates of $18.03 billion. During the same period in the prior year, the business posted $3.49 earnings per share. The company’s revenue was up 11.0% on a year-over-year basis. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. Research analysts predict that American Express Company will post 15.33 earnings per share for the current year.

American Express Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 10th. Investors of record on Friday, October 10th were given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 0.9%. The ex-dividend date was Friday, October 10th. American Express’s dividend payout ratio (DPR) is presently 22.01%.

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.