Arrowstreet Capital Limited Partnership Decreases Stock Position in American Express Company $AXP

Arrowstreet Capital Limited Partnership lessened its holdings in American Express Company (NYSE:AXP) by 29.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 405,906 shares of the payment services company’s stock after selling 170,117 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.06% of American Express worth $129,476,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Briaud Financial Planning Inc acquired a new stake in American Express in the 2nd quarter worth approximately $26,000. Access Investment Management LLC purchased a new position in shares of American Express in the second quarter worth $26,000. 1 North Wealth Services LLC purchased a new stake in shares of American Express during the first quarter valued at $37,000. Chung Wu Investment Group LLC acquired a new position in shares of American Express in the 2nd quarter valued at $37,000. Finally, Solstein Capital LLC acquired a new position in shares of American Express in the 2nd quarter valued at $39,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

Insiders Place Their Bets

In related news, CMO Elizabeth Rutledge sold 50,000 shares of the company’s stock in a transaction dated 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 represents a 36.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 value of $894,359.15. Following the transaction, the insider owned 2,515 shares in the company, valued at $894,359.15. This represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 169,787 shares of company stock worth $57,692,551 in the last 90 days. 0.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Compass Point reiterated a “neutral” rating and set a $324.00 price target on shares of American Express in a research note on Monday, October 20th. Wells Fargo & Company upped their target price on American Express from $375.00 to $400.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Barclays raised their price target on shares of American Express from $336.00 to $355.00 and gave the stock an “equal weight” rating in a research report on Monday, October 20th. 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 report on Monday, October 20th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of American Express from $371.00 to $394.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. Nine analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $332.65.

American Express Price Performance

Shares of NYSE AXP opened at $360.99 on Wednesday. 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 stock has a market capitalization of $248.67 billion, a price-to-earnings ratio of 24.23, a PEG ratio of 1.63 and a beta of 1.14. The firm’s 50 day simple moving average is $348.97 and its 200-day simple moving average is $323.99. American Express Company has a 12 month low of $220.43 and a 12 month high of $377.23.

American Express (NYSE:AXP) last posted its 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 firm had revenue of $17.14 billion during the quarter, compared to analysts’ expectations of $18.03 billion. During the same period in the previous year, the business posted $3.49 EPS. The business’s revenue was up 11.0% compared to the same quarter last year. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. Analysts expect that American Express Company will post 15.33 EPS for the current year.

American Express Dividend Announcement

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