Redwood Wealth Management Group LLC purchased a new position in shares of American Express Company (NYSE:AXP - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 56,885 shares of the payment services company's stock, valued at approximately $1,869,000.
A number of other institutional investors have also modified their holdings of the company. Trajan Wealth LLC grew its stake in shares of American Express by 30.9% in the third quarter. Trajan Wealth LLC now owns 24,901 shares of the payment services company's stock worth $8,271,000 after acquiring an additional 5,881 shares in the last quarter. Hillsdale Investment Management Inc. raised its stake in shares of American Express by 218.7% in the third quarter. Hillsdale Investment Management Inc. now owns 8,540 shares of the payment services company's stock valued at $2,837,000 after acquiring an additional 5,860 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. boosted its holdings in American Express by 11.7% in the third quarter. Sumitomo Mitsui Financial Group Inc. now owns 82,863 shares of the payment services company's stock valued at $27,524,000 after purchasing an additional 8,651 shares during the period. ZEGA Investments LLC acquired a new position in American Express during the 3rd quarter worth $1,080,000. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in American Express by 0.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,598,743 shares of the payment services company's stock worth $531,038,000 after purchasing an additional 4,080 shares in the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.
American Express News Roundup
Here are the key news stories impacting American Express this week:
Wall Street Analyst Weigh In
AXP has been the topic of a number of analyst reports. Weiss Ratings lowered American Express from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, April 15th. Evercore set a $345.00 price objective on American Express in a research report on Wednesday, April 29th. Barclays cut their target price on shares of American Express from $323.00 to $322.00 and set an "equal weight" rating on the stock in a research note on Friday, April 24th. Royal Bank Of Canada set a $415.00 price target on shares of American Express in a research note on Friday, April 10th. Finally, BTIG Research reiterated a "sell" rating and set a $285.00 price target on shares of American Express in a report on Friday, April 24th. Eight investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $357.47.
Read Our Latest Stock Report on American Express
Insider Buying and Selling
In related news, insider Howard Grosfield sold 8,134 shares of the stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $346.73, for a total value of $2,820,301.82. Following the transaction, the insider directly owned 9,433 shares of the company's stock, valued at $3,270,704.09. This trade represents a 46.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ravikumar Radhakrishnan sold 15,000 shares of American Express stock in a transaction on 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 sale, the insider owned 8,945 shares in the company, valued at $3,189,608.10. This represents a 62.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.14% of the stock is currently owned by company insiders.
American Express Stock Down 1.0%
Shares of NYSE AXP opened at $318.67 on Friday. The business has a 50-day moving average of $311.10 and a two-hundred day moving average of $344.05. The company has a market capitalization of $217.44 billion, a price-to-earnings ratio of 19.88, a price-to-earnings-growth ratio of 1.31 and a beta of 1.08. American Express Company has a 1 year low of $278.73 and a 1 year high of $387.49. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.57 and a quick ratio of 1.56.
American Express (NYSE:AXP - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The payment services company reported $4.28 EPS for the quarter, beating analysts' consensus estimates of $4.01 by $0.27. American Express had a return on equity of 33.95% and a net margin of 15.13%.The business had revenue of $14.22 billion for the quarter, compared to the consensus estimate of $18.60 billion. During the same quarter in the prior year, the business posted $3.64 EPS. The business's revenue for the quarter was up 11.4% on a year-over-year basis. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. On average, analysts forecast that American Express Company will post 17.59 earnings per share for the current fiscal year.
American Express Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Friday, April 3rd will be paid a $0.95 dividend. This is an increase from American Express's previous quarterly dividend of $0.82. This represents a $3.80 annualized dividend and a yield of 1.2%. The ex-dividend date is Thursday, April 2nd. American Express's payout ratio is currently 23.71%.
About American Express
(
Free Report)
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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