American Express Company $AXP is Cacti Asset Management LLC’s 2nd Largest Position

Cacti Asset Management LLC lowered its stake in American Express Company (NYSE:AXP) by 4.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 392,781 shares of the payment services company’s stock after selling 20,045 shares during the period. American Express accounts for about 9.0% of Cacti Asset Management LLC’s holdings, making the stock its 2nd largest holding. Cacti Asset Management LLC owned 0.06% of American Express worth $134,205,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Nordea Investment Management AB increased its position in American Express by 2.2% during the second quarter. Nordea Investment Management AB now owns 2,267,377 shares of the payment services company’s stock valued at $721,525,000 after acquiring an additional 49,593 shares during the last quarter. Dempze Nancy E boosted its holdings in American Express by 210.2% in the 2nd quarter. Dempze Nancy E now owns 3,459 shares of the payment services company’s stock worth $1,103,000 after buying an additional 2,344 shares during the period. Reliant Investment Management LLC raised its stake in American Express by 1.9% during the 2nd quarter. Reliant Investment Management LLC now owns 26,189 shares of the payment services company’s stock valued at $8,354,000 after purchasing an additional 480 shares during the period. SLT Holdings LLC lifted its holdings in shares of American Express by 31.3% in the second quarter. SLT Holdings LLC now owns 1,008 shares of the payment services company’s stock worth $322,000 after buying an additional 240 shares in the last quarter. Finally, New York Life Investment Management LLC grew its position in shares of American Express by 0.9% during the second quarter. New York Life Investment Management LLC now owns 82,883 shares of the payment services company’s stock valued at $26,438,000 after purchasing an additional 764 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Truist Financial boosted their target price on shares of American Express from $375.00 to $395.00 and gave the stock a “buy” rating in a report on Monday, October 20th. JPMorgan Chase & Co. raised their price target on shares of American Express from $343.00 to $355.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 7th. BTIG Research lifted their price objective on shares of American Express from $277.00 to $307.00 and gave the company 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 stock a “hold” rating in a research note on Friday, October 10th. Finally, Wells Fargo & Company lifted their price target on shares of American Express from $375.00 to $400.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Nine equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $332.65.

Insider Activity

In other news, CMO Elizabeth Rutledge sold 50,000 shares of the firm’s stock in a transaction on 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 sale, the chief marketing officer owned 85,577 shares of the company’s stock, valued at $30,825,691.17. This trade represents a 36.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Denise Pickett sold 5,000 shares of the stock in a transaction dated 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 sale, the insider owned 7,726 shares of the company’s stock, valued at approximately $2,709,739.98. This trade represents a 39.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 57,515 shares of company stock worth $20,658,509. Insiders own 0.20% of the company’s stock.

American Express Price Performance

AXP opened at $382.14 on Monday. The firm has a market capitalization of $263.23 billion, a PE ratio of 25.65, a price-to-earnings-growth ratio of 1.72 and a beta of 1.14. 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 business’s 50-day moving average is $354.78 and its two-hundred day moving average is $328.59. American Express Company has a 1 year low of $220.43 and a 1 year high of $387.49.

American Express (NYSE:AXP) last issued its quarterly earnings data on Friday, October 17th. The payment services company reported $4.14 earnings per share (EPS) 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 the consensus estimate of $18.03 billion. American Express had a net margin of 14.97% and a return on equity of 33.41%. 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 firm earned $3.49 EPS. 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 earnings per share for the current fiscal year.

American Express Announces Dividend

The firm also recently declared 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 of this dividend 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 is presently 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.