American Express Company $AXP Shares Sold by Laffer Tengler Investments Inc.

Laffer Tengler Investments Inc. lowered its stake in shares of American Express Company (NYSE:AXP) by 6.0% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 50,273 shares of the payment services company’s stock after selling 3,224 shares during the quarter. American Express accounts for 2.9% of Laffer Tengler Investments Inc.’s investment portfolio, making the stock its 5th largest position. Laffer Tengler Investments Inc.’s holdings in American Express were worth $16,036,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of AXP. Nuveen LLC acquired a new position in shares of American Express during the 1st quarter valued at about $1,454,667,000. Wellington Management Group LLP increased its position in 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 worth $4,849,777,000 after purchasing an additional 2,168,445 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in 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 worth $1,278,711,000 after purchasing an additional 965,221 shares during the period. Provident Trust Co. boosted its holdings in American Express by 136.6% in the 2nd quarter. Provident Trust Co. now owns 1,108,971 shares of the payment services company’s stock valued at $353,740,000 after purchasing an additional 640,214 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in American Express by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 45,843,893 shares of the payment services company’s stock valued at $12,334,299,000 after purchasing an additional 605,900 shares during the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity at American Express

In related news, insider Denise Pickett sold 5,000 shares of American Express stock in a transaction that occurred on 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 completion of the transaction, the insider owned 7,726 shares in the company, valued at approximately $2,709,739.98. The trade was a 39.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Douglas Tabish sold 2,515 shares of the stock in a transaction that occurred on 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 approximately $894,359.15. This trade represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 193,292 shares of company stock valued at $65,363,878. 0.20% of the stock is owned by company insiders.

American Express Stock Up 0.9%

NYSE:AXP opened at $368.90 on Monday. American Express Company has a 52 week low of $220.43 and a 52 week high of $370.00. The stock’s fifty day moving average is $339.73 and its two-hundred day moving average is $314.74. The stock has a market capitalization of $254.12 billion, a price-to-earnings ratio of 24.76, a price-to-earnings-growth 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 EPS for the quarter, topping the consensus estimate of $3.98 by $0.16. The business 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 company’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the business posted $3.49 earnings per share. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. Research analysts anticipate that American Express Company will post 15.33 EPS for the current year.

American Express Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on AXP shares. DZ Bank upgraded shares of American Express from a “sell” rating to a “hold” rating and set a $340.00 price target for the company in a report on Tuesday, October 21st. BTIG Research raised their target price on American Express from $277.00 to $307.00 and gave the stock a “sell” rating in a research note on Friday, October 17th. Evercore ISI lifted their target price on American Express from $330.00 to $365.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Barclays upped their price target on American Express from $336.00 to $355.00 and gave the company an “equal weight” rating in a research note on Monday, October 20th. Finally, Keefe, Bruyette & Woods raised their price objective on 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 issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, 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.