Penserra Capital Management LLC Sells 344 Shares of American Express Company $AXP

Penserra Capital Management LLC lowered its holdings in shares of American Express Company (NYSE:AXP) by 0.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 62,111 shares of the payment services company’s stock after selling 344 shares during the period. Penserra Capital Management LLC’s holdings in American Express were worth $19,811,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the business. Marco Investment Management LLC boosted its position in American Express by 0.3% during the second quarter. Marco Investment Management LLC now owns 71,135 shares of the payment services company’s stock valued at $22,691,000 after buying an additional 196 shares during the period. Vestmark Advisory Solutions Inc. lifted its stake in shares of American Express by 897.6% in the 2nd quarter. Vestmark Advisory Solutions Inc. now owns 12,251 shares of the payment services company’s stock valued at $3,908,000 after acquiring an additional 11,023 shares during the last quarter. O Brien Greene & Co. Inc bought a new stake in shares of American Express in the 2nd quarter valued at about $222,000. Rothschild & Co Wealth Management UK Ltd boosted its holdings in American Express by 1.4% during the 2nd quarter. Rothschild & Co Wealth Management UK Ltd now owns 2,815,114 shares of the payment services company’s stock valued at $897,965,000 after acquiring an additional 39,432 shares during the period. Finally, Modera Wealth Management LLC grew its position in American Express by 1.3% during the 2nd quarter. Modera Wealth Management LLC now owns 19,691 shares of the payment services company’s stock worth $6,281,000 after acquiring an additional 247 shares during the last quarter. 84.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on AXP. JPMorgan Chase & Co. boosted their price objective on American Express from $343.00 to $355.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Weiss Ratings upgraded shares of American Express from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft raised their price target on shares of American Express from $371.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, July 21st. Truist Financial upped their price objective on shares of American Express from $375.00 to $395.00 and gave the company a “buy” rating in a research note on Monday, October 20th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of American Express in a report on Monday, July 14th. Nine equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, American Express presently has an average rating of “Hold” and an average target price of $332.65.

American Express Trading Up 0.9%

NYSE:AXP opened at $368.90 on Friday. The company has a 50-day moving average price of $339.73 and a 200-day moving average price of $313.93. The stock has a market cap of $254.12 billion, a price-to-earnings ratio of 24.76, a P/E/G ratio of 1.90 and a beta of 1.27. The company has a current ratio of 1.61, a quick ratio of 1.59 and a debt-to-equity ratio of 1.78. American Express Company has a 12 month low of $220.43 and a 12 month high of $370.00.

American Express (NYSE:AXP) last announced 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 company had revenue of $18.43 billion for the quarter, compared to analysts’ expectations of $18.03 billion. During the same quarter in the previous year, the company earned $3.49 earnings per share. American Express’s quarterly 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. Equities analysts predict that American Express Company will post 15.33 EPS for the current year.

American Express Dividend Announcement

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

Insider Activity at American Express

In related news, insider Douglas Tabish sold 2,515 shares of the company’s stock in a transaction on Thursday, October 23rd. The stock was 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 $894,359.15. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CMO Elizabeth Rutledge sold 50,000 shares of the 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 completion of the transaction, the chief marketing officer owned 85,577 shares of the company’s stock, valued at approximately $30,825,691.17. This trade represents a 36.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 193,292 shares of company stock valued at $65,363,878 over the last ninety days. Insiders own 0.20% of the company’s stock.

American Express Company 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.