Beutel Goodman & Co Ltd. Sells 28,625 Shares of American Express Company $AXP

Beutel Goodman & Co Ltd. lessened its holdings in shares of American Express Company (NYSE:AXP) by 2.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,427,713 shares of the payment services company’s stock after selling 28,625 shares during the period. American Express accounts for approximately 2.6% of Beutel Goodman & Co Ltd.’s investment portfolio, making the stock its 4th biggest position. Beutel Goodman & Co Ltd. owned about 0.21% of American Express worth $455,412,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of AXP. Access Investment Management LLC purchased a new position in American Express during the second quarter worth approximately $26,000. Briaud Financial Planning Inc purchased a new stake in American Express in the 2nd quarter valued at $26,000. Chung Wu Investment Group LLC acquired a new stake in shares of American Express in the 2nd quarter worth $37,000. Solstein Capital LLC acquired a new stake in shares of American Express in the 2nd quarter worth $39,000. Finally, Proffitt & Goodson Inc. purchased a new position in shares of American Express during the 2nd quarter worth $41,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AXP. 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. DZ Bank raised shares of American Express from a “sell” rating to a “hold” rating and set a $340.00 price target for the company in a research note on Tuesday, October 21st. Wall Street Zen lowered shares of American Express from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. HSBC set a $295.00 price objective on American Express and gave the company a “hold” rating in a report on Friday, October 10th. Finally, Evercore ISI raised their target price on American Express from $330.00 to $365.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Nine investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $332.65.

Insider Buying and Selling at American Express

In other American Express news, insider Denise Pickett sold 5,000 shares of American Express 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 completion of the transaction, the insider directly owned 7,726 shares of the company’s stock, valued at $2,709,739.98. The trade was a 39.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Douglas Tabish sold 2,515 shares of the stock in a transaction dated 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 directly owned 2,515 shares in the company, valued at $894,359.15. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 57,515 shares of company stock valued at $20,658,509 in the last three months. 0.20% of the stock is owned by corporate insiders.

American Express Stock Performance

NYSE:AXP opened at $370.93 on Friday. American Express Company has a fifty-two week low of $220.43 and a fifty-two week high of $377.23. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.59 and a current ratio of 1.61. The company has a 50 day moving average price of $350.12 and a 200 day moving average price of $324.63. The stock has a market capitalization of $255.51 billion, a P/E ratio of 24.89, a PEG ratio of 1.66 and a beta of 1.14.

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 analysts’ consensus estimates of $3.98 by $0.16. American Express had a return on equity of 33.41% and a net margin of 14.97%.The company had revenue of $17.14 billion for the quarter, compared to analysts’ expectations of $18.03 billion. During the same period in the prior year, the firm earned $3.49 earnings per share. The firm’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. Equities research analysts forecast 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 was paid on Monday, November 10th. Investors of record on Friday, October 10th were issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Friday, October 10th. American Express’s dividend payout ratio (DPR) is 22.01%.

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.