Prime Capital Investment Advisors LLC Sells 6,983 Shares of American Express Company $AXP

Key Points

• Prime Capital Investment Advisors reduced its American Express stake by 10.6% in the third quarter, selling 6,983 shares and retaining 58,936 shares valued at approximately $17.9 million.
• American Express shares recently traded at $319.83, while institutional investors collectively owned 84.33% of the company. The stock carries a MarketBeat consensus rating of “Moderate Buy” with an average price target of $365.63.
• American Express exceeded quarterly earnings expectations with EPS of $4.53, up from $4.08 a year earlier, and announced a quarterly dividend of $0.95 per share, equal to a 1.2% annualized yield.

Prime Capital Investment Advisors LLC trimmed its stake in shares of American Express Company (NYSE:AXP) by 10.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 58,936 shares of the payment services company's stock after selling 6,983 shares during the period. Prime Capital Investment Advisors LLC's holdings in American Express were worth $17,922,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AXP. Willis Investment Counsel boosted its stake in shares of American Express by 6.5% in the 3rd quarter. Willis Investment Counsel now owns 72,065 shares of the payment services company's stock worth $21,915,000 after buying an additional 4,389 shares during the last quarter. Tred Avon Family Wealth LLC grew its holdings in shares of American Express by 7.5% in the third quarter. Tred Avon Family Wealth LLC now owns 4,106 shares of the payment services company's stock worth $1,249,000 after acquiring an additional 288 shares during the period. CFS Investment Advisory Services LLC increased its position in American Express by 6.0% during the third quarter. CFS Investment Advisory Services LLC now owns 1,065 shares of the payment services company's stock valued at $324,000 after acquiring an additional 60 shares during the last quarter. Investment Research Partners LLC boosted its position in American Express by 2.5% in the third quarter. Investment Research Partners LLC now owns 4,897 shares of the payment services company's stock worth $1,489,000 after purchasing an additional 119 shares during the last quarter. Finally, Novem Group boosted its position in American Express by 3.0% in the third quarter. Novem Group now owns 3,516 shares of the payment services company's stock worth $1,069,000 after purchasing an additional 102 shares during the last quarter. Institutional investors own 84.33% of the company's stock.

American Express Stock Performance

NYSE:AXP traded up $3.42 during mid-day trading on Tuesday, hitting $319.83. 1,964,332 shares of the company traded hands, compared to its average volume of 3,228,627. The stock's fifty day moving average price is $320.67 and its 200-day moving average price is $325.58. American Express Company has a one year low of $290.97 and a one year high of $387.49. The company has a quick ratio of 1.54, a current ratio of 1.55 and a debt-to-equity ratio of 1.66. The firm has a market cap of $215.98 billion, a price-to-earnings ratio of 19.39, a price-to-earnings-growth ratio of 1.33 and a beta of 1.08.

American Express (NYSE:AXP - Get Free Report) last issued its quarterly earnings results on Friday, July 24th. The payment services company reported $4.53 EPS for the quarter, topping analysts' consensus estimates of $4.41 by $0.12. American Express had a return on equity of 34.12% and a net margin of 15.07%. The business had revenue of $14.99 billion during the quarter, compared to analysts' expectations of $19.70 billion. During the same quarter in the prior year, the business posted $4.08 earnings per share. The business's quarterly revenue was up 10.0% on a year-over-year basis. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. Research analysts anticipate that American Express Company will post 17.65 earnings per share for the current fiscal year.

American Express Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 10th. Investors of record on Friday, October 9th will be issued a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, October 9th. American Express's dividend payout ratio is currently 23.06%.

Analysts Set New Price Targets

Several research firms have recently commented on AXP. Truist Financial reduced their price target on shares of American Express from $375.00 to $370.00 and set a "buy" rating for the company in a research report on Wednesday, September 23rd. Benchmark initiated coverage on shares of American Express in a report on Monday, July 13th. They issued a "buy" rating on the stock. Piper Sandler boosted their target price on shares of American Express from $396.00 to $405.00 and gave the company an "overweight" rating in a research report on Wednesday, August 12th. Bank of America upped their target price on shares of American Express from $387.00 to $391.00 and gave the company a "buy" rating in a report on Thursday, July 9th. Finally, Citigroup decreased their price target on shares of American Express from $355.00 to $340.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, American Express has a consensus rating of "Moderate Buy" and a consensus price target of $365.63.

American Express Profile

American Express Company is a global financial services company that provides payment, lending, travel and expense management products and services. Its offerings include consumer and small-business charge and credit cards, corporate payment programs, business financing solutions, deposit products and digital payment services.

The company operates an integrated payments network that connects card members, merchants and financial institutions. American Express also provides merchant acquisition and payment processing services, data and analytics, fraud prevention tools, and customer loyalty programs.

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