Cookson Peirce & Co. Inc. Reduces Holdings in American Express Company $AXP

Key Points

• Cookson Peirce & Co. Inc. reduced its holdings in American Express by 1.7% in the 2nd quarter, now owning 181,712 shares valued at approximately $57.96 million.
• Insider Glenda G. Mcneal sold 50,000 shares of American Express stock valued at around $15.48 million, representing an 82.03% decrease in her position.
• Analysts have varying opinions on American Express, with target price adjustments; Morgan Stanley raised its target from $311 to $362, while BTIG Research lowered theirs from $277 to $307.

Cookson Peirce & Co. Inc. reduced its stake in American Express Company (NYSE:AXP) by 1.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 181,712 shares of the payment services company's stock after selling 3,138 shares during the quarter. American Express comprises 2.6% of Cookson Peirce & Co. Inc.'s holdings, making the stock its 6th largest position. Cookson Peirce & Co. Inc.'s holdings in American Express were worth $57,962,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Capital Asset Advisory Services LLC grew its position in shares of American Express by 2.8% during the 2nd quarter. Capital Asset Advisory Services LLC now owns 1,191 shares of the payment services company's stock worth $384,000 after purchasing an additional 32 shares in the last quarter. DLK Investment Management LLC boosted its position in American Express by 3.8% in the second quarter. DLK Investment Management LLC now owns 869 shares of the payment services company's stock valued at $277,000 after buying an additional 32 shares in the last quarter. Financial Engines Advisors L.L.C. boosted its position in American Express by 4.7% in the first quarter. Financial Engines Advisors L.L.C. now owns 772 shares of the payment services company's stock valued at $208,000 after buying an additional 35 shares in the last quarter. Modern Wealth Management LLC boosted its position in American Express by 0.7% in the first quarter. Modern Wealth Management LLC now owns 4,921 shares of the payment services company's stock valued at $1,324,000 after buying an additional 35 shares in the last quarter. Finally, Greenfield Savings Bank boosted its position in American Express by 0.3% in the second quarter. Greenfield Savings Bank now owns 13,116 shares of the payment services company's stock valued at $4,184,000 after buying an additional 35 shares in the last quarter. Institutional investors and hedge funds own 84.33% of the company's stock.

Insider Activity

In related news, insider Glenda G. Mcneal sold 50,000 shares of the company's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $309.50, for a total value of $15,475,000.00. Following the completion of the transaction, the insider owned 10,957 shares of the company's stock, valued at approximately $3,391,191.50. This represents a 82.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Laureen Seeger sold 61,721 shares of the company's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $297.47, for a total transaction of $18,360,145.87. Following the transaction, the insider owned 9,001 shares of the company's stock, valued at approximately $2,677,527.47. This represents a 87.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold 269,996 shares of company stock valued at $85,261,270 over the last three months. Corporate insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AXP shares. Morgan Stanley boosted their target price on shares of American Express from $311.00 to $362.00 and gave the company an "equal weight" rating in a report on Monday, September 29th. Citigroup reaffirmed a "neutral" rating and issued a $327.00 price target (up from $300.00) on shares of American Express in a research note on Wednesday, July 2nd. Keefe, Bruyette & Woods boosted their target price on shares of American Express from $371.00 to $394.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 1st. BTIG Research boosted their price target on shares of American Express from $277.00 to $307.00 and gave the stock a "sell" rating in a report on Friday. Finally, Truist Financial increased their price target on shares of American Express from $375.00 to $395.00 and gave the company a "buy" rating in a research report on Monday. Nine research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $332.65.

American Express Trading Up 1.8%

NYSE AXP opened at $355.76 on Wednesday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.69 and a current ratio of 1.61. American Express Company has a fifty-two week low of $220.43 and a fifty-two week high of $356.67. The stock has a market cap of $245.06 billion, a P/E ratio of 23.88, a price-to-earnings-growth ratio of 1.85 and a beta of 1.29. The stock has a 50 day simple moving average of $327.75 and a two-hundred day simple moving average of $303.83.

American Express (NYSE:AXP - Get Free Report) last announced its earnings results on Friday, October 17th. The payment services company reported $4.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.98 by $0.16. American Express had a return on equity of 33.41% and a net margin of 14.97%.The firm had revenue of $18.43 billion during the quarter, compared to analyst estimates of $18.03 billion. During the same quarter in the prior year, the company earned $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. On average, analysts forecast that American Express Company will post 15.33 earnings per share for the current year.

American Express Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Friday, October 10th will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, October 10th. American Express's dividend payout ratio (DPR) is presently 22.01%.

American Express 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.

Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express Company (NYSE:AXP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.