Handelsbanken Fonder AB Has $66.58 Million Stock Holdings in American Express Company $AXP

Handelsbanken Fonder AB reduced its position in American Express Company (NYSE:AXP) by 4.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 208,717 shares of the payment services company’s stock after selling 9,806 shares during the period. Handelsbanken Fonder AB’s holdings in American Express were worth $66,577,000 as of its most recent filing with the SEC.

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

American Express Stock Performance

Shares of NYSE:AXP opened at $343.69 on Friday. American Express Company has a 12-month low of $220.43 and a 12-month high of $377.23. The company’s 50 day moving average price is $344.86 and its two-hundred day moving average price is $319.57. The firm has a market cap of $236.75 billion, a PE ratio of 23.07, a PEG ratio of 1.90 and a beta of 1.27. 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 (NYSE:AXP) last released its quarterly earnings results on Friday, October 17th. The payment services company reported $4.14 earnings per share for the quarter, beating analysts’ consensus estimates of $3.98 by $0.16. The company had revenue of $17.14 billion during the quarter, compared to the consensus estimate of $18.03 billion. American Express had a net margin of 14.97% and a return on equity of 33.41%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the business earned $3.49 earnings per share. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. Equities 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 announced a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Friday, October 10th were issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, October 10th. American Express’s dividend payout ratio is 22.01%.

Analyst Upgrades and Downgrades

AXP has been the topic of several research analyst reports. Keefe, Bruyette & Woods increased their price objective on shares of American Express from $371.00 to $394.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. Evercore ISI upped their price target on shares of American Express from $330.00 to $365.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. Compass Point reissued a “neutral” rating and issued a $324.00 price target on shares of American Express in a report on Monday, October 20th. JPMorgan Chase & Co. boosted their price objective on American Express from $343.00 to $355.00 and gave the stock a “neutral” rating in a report on Tuesday, October 7th. Finally, Truist Financial upped their target price on American Express from $375.00 to $395.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Eight equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, American Express currently has an average rating of “Hold” and a consensus target price of $332.65.

Insider Buying and Selling

In related news, insider Denise Pickett sold 5,000 shares of the business’s stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $350.73, for a total value of $1,753,650.00. Following the completion of the transaction, the insider owned 7,726 shares of the company’s stock, valued at $2,709,739.98. The trade was a 39.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Douglas Tabish sold 2,515 shares of the company’s stock in a transaction dated 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. The SEC filing for this sale provides additional information. Insiders have sold 193,292 shares of company stock valued at $65,363,878 in the last ninety days. 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.