Alpha Cubed Investments LLC Trims Stock Holdings in American Express Company $AXP

Alpha Cubed Investments LLC lessened its stake in shares of American Express Company (NYSE:AXP) by 29.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,014 shares of the payment services company’s stock after selling 414 shares during the quarter. Alpha Cubed Investments LLC’s holdings in American Express were worth $323,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Nuveen LLC purchased a new stake in American Express during the 1st quarter valued at about $1,454,667,000. Wellington Management Group LLP raised its holdings in American Express by 13.7% in the 1st quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company’s stock worth $4,849,777,000 after acquiring an additional 2,168,445 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of American Express by 25.5% in 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 acquiring an additional 965,221 shares during the period. Provident Trust Co. grew its stake in shares of American Express by 136.6% during 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 period. Finally, Vanguard Group Inc. raised its stake in shares of American Express by 1.3% in the first quarter. Vanguard Group Inc. now owns 45,843,893 shares of the payment services company’s stock worth $12,334,299,000 after buying an additional 605,900 shares during the period. 84.33% of the stock is currently owned by institutional investors.

American Express Price Performance

American Express stock opened at $367.93 on Tuesday. American Express Company has a 1 year low of $220.43 and a 1 year high of $371.80. The company’s 50 day simple moving average is $340.46 and its 200-day simple moving average is $315.45. The company has a market capitalization of $253.45 billion, a price-to-earnings ratio of 24.69, a price-to-earnings-growth ratio of 1.90 and a beta of 1.27. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.59 and a current ratio of 1.61.

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 firm had revenue of $18.43 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.49 EPS. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. As a group, equities research analysts expect that American Express Company will post 15.33 earnings per share for the current year.

American Express Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 10th. Investors of record on Friday, October 10th were paid a $0.82 dividend. The ex-dividend date was Friday, October 10th. This represents a $3.28 dividend on an annualized basis and a yield of 0.9%. American Express’s payout ratio is currently 22.01%.

Insider Activity at American Express

In related news, insider Denise Pickett sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 22nd. The stock was sold at an average price of $350.73, for a total transaction of $1,753,650.00. Following the completion of the sale, the insider owned 7,726 shares in the company, valued at $2,709,739.98. The trade was a 39.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas Tabish sold 2,515 shares of the company’s stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $355.61, for a total value of $894,359.15. Following the completion of the transaction, the insider directly owned 2,515 shares of the company’s stock, valued at $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. Insiders sold 193,292 shares of company stock worth $65,363,878 over the last three months. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. HSBC set a $295.00 target price on shares of American Express and gave the stock a “hold” rating in a research report on Friday, October 10th. JPMorgan Chase & Co. upped their price target on American Express from $343.00 to $355.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Royal Bank Of Canada reissued an “outperform” rating on shares of American Express in a report on Monday, July 14th. Compass Point reissued a “neutral” rating and set a $324.00 price target on shares of American Express in a report on Monday, October 20th. Finally, Truist Financial upped their price objective on shares of American Express from $375.00 to $395.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. Eight analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, American Express presently has an average rating of “Hold” and a consensus target price 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.