Global Retirement Partners LLC Takes Position in American Express Company $AXP

Global Retirement Partners LLC acquired a new position in American Express Company (NYSE:AXP) during the 2nd quarter, Holdings Channel reports. The fund acquired 10,973 shares of the payment services company’s stock, valued at approximately $3,500,000.

Other large investors have also recently added to or reduced their stakes in the company. Access Investment Management LLC purchased a new stake in shares of American Express in the second quarter valued at about $26,000. Briaud Financial Planning Inc acquired a new position in shares of American Express during the 2nd quarter worth approximately $26,000. Chung Wu Investment Group LLC purchased a new stake in American Express in the 2nd quarter valued at approximately $37,000. Solstein Capital LLC acquired a new stake in American Express during the 2nd quarter valued at $39,000. Finally, Proffitt & Goodson Inc. acquired a new stake in American Express during the 2nd quarter valued at $41,000. 84.33% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CMO Elizabeth Rutledge sold 50,000 shares of American Express stock in a transaction 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 owned 85,577 shares in the company, valued at approximately $30,825,691.17. This trade represents a 36.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Denise Pickett sold 5,000 shares of the business’s stock in a transaction dated Wednesday, October 22nd. The shares were sold at an average price of $350.73, for a total value of $1,753,650.00. Following the sale, the insider directly owned 7,726 shares of the company’s stock, valued at approximately $2,709,739.98. This trade represents a 39.29% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 Trading Up 0.7%

Shares of AXP stock opened at $355.47 on Tuesday. The firm’s 50-day simple moving average is $345.98 and its 200-day simple moving average is $321.22. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.61 and a quick ratio of 1.59. American Express Company has a 1-year low of $220.43 and a 1-year high of $377.23. The firm has a market cap of $244.86 billion, a P/E ratio of 23.86, a PEG ratio of 1.90 and a beta of 1.27.

American Express (NYSE:AXP) last released its earnings results on Friday, October 17th. The payment services company reported $4.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.98 by $0.16. The firm 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%. American Express’s revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.49 earnings per share. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. As a group, equities analysts forecast that American Express Company will post 15.33 EPS for the current year.

American Express Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Friday, October 10th. American Express’s dividend payout ratio is presently 22.01%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AXP. Barclays upped their price objective on American Express from $336.00 to $355.00 and gave the company an “equal weight” rating in a research report on Monday, October 20th. Truist Financial upped their target price on shares of American Express from $375.00 to $395.00 and gave the company a “buy” rating in a report on Monday, October 20th. Wall Street Zen downgraded shares of American Express from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. BTIG Research boosted their price objective 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. Finally, Keefe, Bruyette & Woods raised their target price on shares of American Express from $371.00 to $394.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. Eight investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target 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.