Klingman & Associates LLC Has $550,000 Holdings in American Express Company $AXP

Key Points

• Klingman & Associates LLC increased its holdings in American Express by 107.5%, bringing its total investment to $550,000 after acquiring an additional 893 shares in the 2nd quarter.
• American Express's recent earnings report surpassed expectations, with an EPS of $4.14, beating the consensus estimate of $3.98, while revenue grew by 11.0% year-over-year.
• The company's quarterly dividend of $0.82 will be paid on November 10th, representing an annualized yield of 0.9%, with a dividend payout ratio of 22.01%.

Klingman & Associates LLC lifted its holdings in American Express Company (NYSE:AXP - Free Report) by 107.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,724 shares of the payment services company's stock after acquiring an additional 893 shares during the period. Klingman & Associates LLC's holdings in American Express were worth $550,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of AXP. Vanguard Group Inc. lifted its position in American Express by 1.3% during the first quarter. Vanguard Group Inc. now owns 45,843,893 shares of the payment services company's stock worth $12,334,299,000 after purchasing an additional 605,900 shares during the period. Wellington Management Group LLP lifted its position in American Express by 13.7% during the first quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company's stock worth $4,849,777,000 after purchasing an additional 2,168,445 shares during the period. Nuveen LLC bought a new stake in American Express during the first quarter worth about $1,454,667,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in American Express by 1.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,093,807 shares of the payment services company's stock worth $1,370,489,000 after purchasing an additional 78,538 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in American Express by 25.5% during the first quarter. Goldman Sachs Group Inc. now owns 4,752,690 shares of the payment services company's stock worth $1,278,711,000 after purchasing an additional 965,221 shares during the period. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AXP has been the subject of several recent analyst reports. DZ Bank raised shares of American Express from a "sell" rating to a "hold" rating and set a $340.00 price objective for the company in a research report on Tuesday. Evercore ISI upped their price objective on shares of American Express from $330.00 to $365.00 and gave the stock an "in-line" rating in a research report on Tuesday, September 30th. BTIG Research upped their price objective on shares of American Express from $277.00 to $307.00 and gave the stock a "sell" rating in a research report on Friday. Monness Crespi & Hardt cut shares of American Express from a "buy" rating to a "neutral" rating in a research report on Tuesday, July 15th. Finally, Truist Financial increased 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. Nine investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $332.65.

Insiders Place Their Bets

In related news, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $326.37, for a total value of $7,671,326.85. Following the completion of the transaction, the insider owned 123,613 shares in the company, valued at $40,343,574.81. This trade represents a 15.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Glenda G. Mcneal sold 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $309.50, for a total transaction 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 trade represents a 82.03% 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 over the last quarter. 0.20% of the stock is currently owned by corporate insiders.

American Express Stock Up 1.8%

AXP stock opened at $355.76 on Wednesday. The stock has a market capitalization 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 company has a current ratio of 1.61, a quick ratio of 1.69 and a debt-to-equity ratio of 1.78. American Express Company has a 12 month low of $220.43 and a 12 month high of $356.67. The firm has a 50-day moving average price of $327.75 and a 200-day moving average price of $303.83.

American Express (NYSE:AXP - Get Free Report) last posted its 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. The firm had revenue of $18.43 billion during the quarter, compared to analysts' expectations of $18.03 billion. American Express had a net margin of 14.97% and a return on equity of 33.41%. The business's revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.49 earnings per share. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. As a group, equities research analysts anticipate that American Express Company will post 15.33 EPS for the current fiscal 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 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 (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.

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