Hartline Investment Corp Has $4.47 Million Stock Holdings in American Express Company $AXP

Key Points

• Selling Activity: Hartline Investment Corp reduced its holdings in American Express by 8.2%, now owning 14,005 shares valued at approximately $4.47 million as of the last SEC filing.
• Strong Earnings Report: American Express reported $4.14 earnings per share for the latest quarter, surpassing analysts' expectations by $0.16, with revenues of $18.43 billion, also exceeding projections.
• Dividend Declaration: The company declared a quarterly dividend of $0.82, which will be paid on November 10th, with an annualized yield of 0.9%.

Hartline Investment Corp cut its holdings in American Express Company (NYSE:AXP - Free Report) by 8.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 14,005 shares of the payment services company's stock after selling 1,247 shares during the quarter. Hartline Investment Corp's holdings in American Express were worth $4,467,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of AXP. Capital Asset Advisory Services LLC boosted its position in 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 acquiring an additional 32 shares during the last quarter. DLK Investment Management LLC boosted its position in American Express by 3.8% during the 2nd quarter. DLK Investment Management LLC now owns 869 shares of the payment services company's stock worth $277,000 after acquiring an additional 32 shares during the last quarter. Financial Engines Advisors L.L.C. boosted its position in American Express by 4.7% during the 1st quarter. Financial Engines Advisors L.L.C. now owns 772 shares of the payment services company's stock worth $208,000 after acquiring an additional 35 shares during the last quarter. Modern Wealth Management LLC boosted its position in American Express by 0.7% during the 1st quarter. Modern Wealth Management LLC now owns 4,921 shares of the payment services company's stock worth $1,324,000 after acquiring an additional 35 shares during the last quarter. Finally, Greenfield Savings Bank boosted its position in American Express by 0.3% during the 2nd quarter. Greenfield Savings Bank now owns 13,116 shares of the payment services company's stock worth $4,184,000 after acquiring an additional 35 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

American Express Trading Up 7.2%

Shares of American Express stock opened at $346.45 on Friday. American Express Company has a 12-month low of $220.43 and a 12-month high of $349.19. The stock has a market cap of $241.09 billion, a P/E ratio of 24.31, a P/E/G ratio of 1.69 and a beta of 1.29. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 1.80. The business's 50 day moving average is $325.64 and its 200-day moving average is $302.09.

American Express (NYSE:AXP - Get Free Report) last posted its quarterly earnings results on Friday, October 17th. The payment services company reported $4.14 earnings per share for the quarter, beating analysts' consensus estimates of $3.98 by $0.16. American Express had a return on equity of 32.87% and a net margin of 14.78%.The business had revenue of $18.43 billion for the quarter, compared to analysts' expectations of $18.03 billion. During the same quarter in the prior year, the business earned $3.49 EPS. The firm's revenue for the quarter was up 11.0% on a year-over-year basis. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. Equities research analysts predict that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Friday, October 10th will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, October 10th. American Express's dividend payout ratio is 23.02%.

Insiders Place Their Bets

In related news, CEO Stephen J. Squeri sold 112,272 shares of the stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $329.86, for a total value of $37,034,041.92. Following the sale, the chief executive officer owned 92,810 shares in the company, valued at approximately $30,614,306.60. This represents a 54.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Laureen Seeger sold 16,998 shares of the stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $294.83, for a total value of $5,011,520.34. Following the completion of the sale, the insider owned 9,001 shares in the company, valued at approximately $2,653,764.83. This trade represents a 65.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 269,996 shares of company stock worth $85,261,270 in the last quarter. Company insiders own 0.20% of the company's stock.

Analysts Set New Price Targets

AXP has been the subject of a number of recent research reports. Keefe, Bruyette & Woods upped their price target on American Express from $371.00 to $394.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 1st. Citigroup reaffirmed a "neutral" rating and set a $327.00 price target (up previously from $300.00) on shares of American Express in a research report on Wednesday, July 2nd. Weiss Ratings raised American Express from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, October 8th. Truist Financial upped their price target on American Express from $348.00 to $375.00 and gave the stock a "buy" rating in a research report on Monday, September 15th. Finally, Evercore ISI upped their price objective 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, thirteen have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $323.60.

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.

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.