Patten Group Inc. Boosts Stock Holdings in American Express Company $AXP

Patten Group Inc. lifted its stake in shares of American Express Company (NYSE:AXP) by 3.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,489 shares of the payment services company’s stock after acquiring an additional 50 shares during the quarter. Patten Group Inc.’s holdings in American Express were worth $475,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. MorganRosel Wealth Management LLC purchased a new stake in shares of American Express during the first quarter worth $29,000. Chung Wu Investment Group LLC purchased a new stake in shares of American Express during the second quarter worth $37,000. Hughes Financial Services LLC purchased a new position in American Express in the first quarter valued at $35,000. Proffitt & Goodson Inc. purchased a new position in American Express in the second quarter valued at $41,000. Finally, 1 North Wealth Services LLC purchased a new position in American Express in the first quarter valued at $37,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Insider Buying and Selling

In other news, insider Anna Marrs sold 5,500 shares of the stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $310.77, for a total transaction of $1,709,235.00. Following the completion of the sale, the insider owned 20,311 shares in the company, valued at approximately $6,312,049.47. This represents a 21.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Laureen Seeger sold 61,721 shares of the stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $297.47, for a total transaction of $18,360,145.87. Following the sale, the insider owned 9,001 shares of the company’s stock, valued at $2,677,527.47. This trade represents a 87.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 269,996 shares of company stock valued at $85,261,270 over the last ninety days. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on AXP shares. Citigroup reissued a “neutral” rating and issued a $327.00 target price (up previously from $300.00) on shares of American Express in a report on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft increased their target price on American Express from $371.00 to $375.00 and gave the company a “buy” rating in a report on Monday, July 21st. JPMorgan Chase & Co. increased their target price on American Express from $343.00 to $355.00 and gave the company a “neutral” rating in a report on Tuesday, October 7th. William Blair reissued an “outperform” rating on shares of American Express in a report on Wednesday, July 2nd. Finally, Weiss Ratings raised American Express from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. Nine equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, American Express currently has a consensus rating of “Hold” and a consensus price target of $332.65.

American Express Stock Performance

NYSE AXP opened at $351.68 on Thursday. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.61 and a quick ratio of 1.69. American Express Company has a 1 year low of $220.43 and a 1 year high of $357.73. The company has a market capitalization of $242.25 billion, a PE ratio of 23.60, a P/E/G ratio of 1.84 and a beta of 1.29. The company has a fifty day moving average of $328.64 and a two-hundred day moving average of $304.16.

American Express (NYSE:AXP) last released its quarterly earnings data 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 company had revenue of $18.43 billion during the quarter, compared to the consensus estimate of $18.03 billion. During the same quarter in the prior year, the firm posted $3.49 earnings per share. American Express’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. As a group, analysts expect that American Express Company will post 15.33 earnings per share for the current year.

American Express Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Friday, October 10th will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, October 10th. American Express’s dividend payout ratio is currently 22.01%.

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.