Amalgamated Bank Lowers Position in American Express Company $AXP

Amalgamated Bank cut its stake in American Express Company (NYSE:AXP) by 0.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 113,592 shares of the payment services company’s stock after selling 759 shares during the quarter. Amalgamated Bank’s holdings in American Express were worth $36,234,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of AXP. Nuveen LLC purchased a new stake in shares of American Express in the first quarter worth approximately $1,454,667,000. Wellington Management Group LLP increased its position in shares of American Express by 13.7% during the first quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company’s stock valued at $4,849,777,000 after acquiring an additional 2,168,445 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of American Express by 25.5% during the first quarter. Goldman Sachs Group Inc. now owns 4,752,690 shares of the payment services company’s stock valued at $1,278,711,000 after acquiring an additional 965,221 shares during the last quarter. Vanguard Group Inc. increased its position in shares of American Express by 1.3% during the first quarter. Vanguard Group Inc. now owns 45,843,893 shares of the payment services company’s stock valued at $12,334,299,000 after acquiring an additional 605,900 shares during the last quarter. Finally, Provident Trust Co. purchased a new stake in shares of American Express during the first quarter valued at approximately $126,119,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at American Express

In other American Express news, insider Douglas Tabish sold 2,515 shares of the firm’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 owned 2,515 shares in the company, valued at $894,359.15. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Stephen J. Squeri sold 112,272 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer owned 92,810 shares in the company, valued at $30,614,306.60. The trade was a 54.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 222,011 shares of company stock valued at $70,725,044. 0.20% of the stock is currently owned by company insiders.

American Express Price Performance

American Express stock opened at $357.99 on Thursday. American Express Company has a one year low of $220.43 and a one year high of $362.84. The business has a fifty day moving average price of $333.81 and a 200-day moving average price of $308.93. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.61 and a quick ratio of 1.59. The firm has a market capitalization of $246.60 billion, a P/E ratio of 24.03, a PEG ratio of 1.92 and a beta of 1.29.

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

American Express Announces Dividend

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

Analyst Ratings Changes

A number of brokerages recently commented on AXP. Monness Crespi & Hardt downgraded American Express from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 15th. Morgan Stanley increased their price objective on American Express from $311.00 to $362.00 and gave the company an “equal weight” rating in a report on Monday, September 29th. JPMorgan Chase & Co. increased their price objective on American Express from $343.00 to $355.00 and gave the company a “neutral” rating in a report on Tuesday, October 7th. Wells Fargo & Company increased their price objective on American Express from $375.00 to $400.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Finally, Barclays increased their price objective on American Express from $336.00 to $355.00 and gave the company an “equal weight” rating in a report on Monday, October 20th. Nine research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $332.65.

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.