Alteri Wealth LLC Raises Stock Position in American Express Company $AXP

Alteri Wealth LLC raised its position in American Express Company (NYSE:AXP) by 13.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,785 shares of the payment services company’s stock after purchasing an additional 217 shares during the quarter. Alteri Wealth LLC’s holdings in American Express were worth $569,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Access Investment Management LLC purchased a new position in American Express in the second quarter worth approximately $26,000. Briaud Financial Planning Inc acquired a new position in shares of American Express in the 2nd quarter valued at $26,000. Chung Wu Investment Group LLC acquired a new position in shares of American Express in the 2nd quarter valued at $37,000. Solstein Capital LLC purchased a new position in shares of American Express during the 2nd quarter worth $39,000. Finally, Proffitt & Goodson Inc. acquired a new stake in shares of American Express during the 2nd quarter worth about $41,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

Analyst Ratings Changes

AXP has been the topic of a number of recent analyst reports. Morgan Stanley upped their target price on shares of American Express from $311.00 to $362.00 and gave the company an “equal weight” rating in a research report on Monday, September 29th. BTIG Research upped their price objective on shares of American Express from $277.00 to $307.00 and gave the stock a “sell” rating in a report on Friday, October 17th. HSBC set a $295.00 target price on shares of American Express and gave the company a “hold” rating in a report on Friday, October 10th. Wall Street Zen lowered American Express from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Finally, Compass Point restated a “neutral” rating and set a $324.00 price target on shares of American Express in a research report on Monday, October 20th. Eight investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $332.65.

Insider Buying and Selling at American Express

In other news, insider Denise Pickett sold 5,000 shares of the stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $350.73, for a total value of $1,753,650.00. Following the transaction, the insider owned 7,726 shares in the company, valued at approximately $2,709,739.98. This represents a 39.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $326.37, for a total value of $7,671,326.85. Following the sale, the insider owned 123,613 shares of the company’s stock, valued at approximately $40,343,574.81. The trade was a 15.98% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 193,292 shares of company stock worth $65,363,878. 0.20% of the stock is currently owned by company insiders.

American Express Price Performance

AXP stock opened at $340.63 on Wednesday. The business’s 50-day moving average is $344.15 and its two-hundred day moving average is $319.23. 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 $234.64 billion, a P/E ratio of 22.86, a P/E/G ratio of 1.90 and a beta of 1.27. American Express Company has a 1 year low of $220.43 and a 1 year high of $377.23.

American Express (NYSE:AXP) last released its earnings results on Friday, October 17th. The payment services company reported $4.14 earnings per share for the quarter, topping analysts’ consensus estimates of $3.98 by $0.16. The firm had revenue of $17.14 billion for the quarter, compared to analyst estimates of $18.03 billion. American Express had a net margin of 14.97% and a return on equity of 33.41%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.49 earnings per share. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. Analysts anticipate that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Friday, October 10th were issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Friday, October 10th. American Express’s dividend payout ratio (DPR) is presently 22.01%.

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.