Legal & General Group Plc Buys 83,189 Shares of American Express Company $AXP

Key Points

• Legal & General Group Plc increased its stake in American Express by 2.4%, buying 83,189 shares to own 3,483,876 shares (about 0.51% of the company) valued at approximately $1,157,204,000.
• Company insiders have been net sellers recently — Ravikumar Radhakrishnan sold 15,000 shares at $356.58 and Anna Marrs sold 27,425 shares at $350.01, with insiders selling a total of 73,944 shares worth $26.11M over the past three months.
• American Express raised its quarterly dividend to $0.95 (annualized $3.80, yield ~1.2%), while Wall Street sentiment is mixed: nine Buys, fifteen Holds and one Sell, giving an average rating of "Hold" and an average price target of $352.73.

Legal & General Group Plc increased its stake in shares of American Express Company (NYSE:AXP) by 2.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,483,876 shares of the payment services company's stock after acquiring an additional 83,189 shares during the period. Legal & General Group Plc owned about 0.51% of American Express worth $1,157,204,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Valley Wealth Managers Inc. increased its holdings in American Express by 153.3% during the third quarter. Valley Wealth Managers Inc. now owns 76 shares of the payment services company's stock worth $25,000 after buying an additional 46 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in American Express during the third quarter valued at approximately $27,000. Guerra Advisors Inc bought a new stake in American Express during the third quarter worth $28,000. Halbert Hargrove Global Advisors LLC raised its holdings in shares of American Express by 210.7% during the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 87 shares of the payment services company's stock worth $29,000 after buying an additional 59 shares in the last quarter. Finally, Grey Fox Wealth Advisors LLC acquired a new position in American Express during the third quarter worth about $34,000. 84.33% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Ravikumar Radhakrishnan sold 15,000 shares of American Express stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $356.58, for a total transaction of $5,348,700.00. Following the completion of the sale, the insider owned 8,945 shares in the company, valued at approximately $3,189,608.10. This trade represents a 62.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Anna Marrs sold 27,425 shares of the firm's stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $350.01, for a total transaction of $9,599,024.25. Following the completion of the sale, the insider directly owned 20,394 shares in the company, valued at $7,138,103.94. This represents a 57.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 73,944 shares of company stock worth $26,114,366. Company insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AXP. Wells Fargo & Company raised their price objective on American Express from $400.00 to $425.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 17th. Truist Financial reduced their price objective on shares of American Express from $420.00 to $400.00 and set a "buy" rating on the stock in a research note on Monday, February 2nd. BTIG Research restated a "sell" rating and issued a $328.00 target price on shares of American Express in a report on Monday, February 2nd. TD Cowen reiterated a "hold" rating on shares of American Express in a report on Thursday, January 8th. Finally, The Goldman Sachs Group reissued a "buy" rating and issued a $420.00 price objective on shares of American Express in a research report on Tuesday, January 6th. Nine research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $352.73.

American Express Price Performance

Shares of NYSE AXP opened at $305.56 on Tuesday. The stock has a market cap of $209.80 billion, a price-to-earnings ratio of 19.85, a PEG ratio of 1.27 and a beta of 1.15. American Express Company has a fifty-two week low of $220.43 and a fifty-two week high of $387.49. The firm's 50-day simple moving average is $349.51 and its 200 day simple moving average is $349.60. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.58 and a current ratio of 1.59.

American Express (NYSE:AXP - Get Free Report) last announced its quarterly earnings results on Friday, January 30th. The payment services company reported $3.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.54 by ($0.01). The company had revenue of ($17,139.00) million for the quarter, compared to the consensus estimate of $18.91 billion. American Express had a return on equity of 33.49% and a net margin of 15.00%.The company's quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the company posted $3.04 EPS. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. As a group, research analysts anticipate that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Friday, April 3rd will be paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Thursday, April 2nd. This is an increase from American Express's previous quarterly dividend of $0.82. American Express's dividend payout ratio is currently 21.31%.

About American Express

American Express is a global financial services company primarily known for its payment card products, travel services and merchant network. Founded in 1850 as an express mail business, the company evolved through the 20th century into a payments and travel-focused organization. Its core activities include issuing consumer and commercial charge and credit cards, operating a global card acceptance and processing network, and providing travel-related services and customer loyalty programs.

American Express issues a range of products for individuals, small businesses and large corporations, including personal cards, business and corporate cards, and co‑brand partnerships with airlines, hotels and retailers.

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