Rehmann Capital Advisory Group Trims Holdings in American Express Company $AXP

Key Points

• Rehmann Capital Advisory Group has reduced its holdings in American Express by 15.6%, now owning 9,657 shares valued at approximately $3.08 million.
• Insider sales included Laureen Seeger selling 16,998 shares and CEO Stephen J. Squeri offloading 112,272 shares, significantly decreasing their ownership stakes.
• The company reported earnings of $4.14 per share, exceeding analyst expectations, and disclosed a quarterly dividend of $0.82 per share scheduled for payment on November 10.

Rehmann Capital Advisory Group reduced its holdings in shares of American Express Company (NYSE:AXP - Free Report) by 15.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,657 shares of the payment services company's stock after selling 1,788 shares during the quarter. Rehmann Capital Advisory Group's holdings in American Express were worth $3,081,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Capital Asset Advisory Services LLC boosted its stake in shares of 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 valued at $384,000 after buying an additional 32 shares during the last quarter. DLK Investment Management LLC lifted its stake in American Express by 3.8% during the second quarter. DLK Investment Management LLC now owns 869 shares of the payment services company's stock worth $277,000 after purchasing an additional 32 shares during the last quarter. Financial Engines Advisors L.L.C. lifted its stake in American Express by 4.7% during the first quarter. Financial Engines Advisors L.L.C. now owns 772 shares of the payment services company's stock worth $208,000 after purchasing an additional 35 shares during the last quarter. Modern Wealth Management LLC lifted its stake in American Express by 0.7% during the first quarter. Modern Wealth Management LLC now owns 4,921 shares of the payment services company's stock worth $1,324,000 after purchasing an additional 35 shares during the last quarter. Finally, Greenfield Savings Bank lifted its stake in American Express by 0.3% during the second quarter. Greenfield Savings Bank now owns 13,116 shares of the payment services company's stock worth $4,184,000 after purchasing an additional 35 shares during the last quarter. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at American Express

In related news, insider Laureen Seeger sold 16,998 shares of American Express stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $294.83, for a total transaction of $5,011,520.34. Following the sale, the insider directly owned 9,001 shares in the company, valued at $2,653,764.83. The trade was a 65.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stephen J. Squeri sold 112,272 shares of American Express stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $329.86, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 269,996 shares of company stock valued at $85,261,270. 0.20% of the stock is currently owned by insiders.

American Express Stock Performance

AXP stock opened at $355.76 on Wednesday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.69 and a current ratio of 1.61. The stock has a market capitalization of $245.06 billion, a price-to-earnings ratio of 23.88, a PEG ratio of 1.85 and a beta of 1.29. American Express Company has a 1 year low of $220.43 and a 1 year high of $356.67. The stock's fifty day moving average is $327.75 and its two-hundred day moving average is $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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.98 by $0.16. American Express had a return on equity of 33.41% and a net margin of 14.97%.The company had revenue of $18.43 billion for the quarter, compared to analysts' expectations of $18.03 billion. During the same period last year, the business posted $3.49 earnings per share. The firm's quarterly revenue was up 11.0% compared to the same quarter last year. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. On average, research analysts predict that American Express Company will post 15.33 EPS for the current year.

American Express Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Friday, October 10th will be paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, October 10th. American Express's payout ratio is currently 22.01%.

Wall Street Analyst Weigh In

AXP has been the topic of several research analyst reports. Barclays raised their price objective on American Express from $336.00 to $355.00 and gave the stock an "equal weight" rating in a research note on Monday. William Blair restated an "outperform" rating on shares of American Express in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. raised their price objective on American Express from $343.00 to $355.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 7th. HSBC set a $295.00 price objective on American Express and gave the stock a "hold" rating in a research note on Friday, October 10th. Finally, UBS Group raised their target price on American Express from $330.00 to $340.00 and gave the company a "neutral" rating in a research note on Tuesday, October 7th. Nine analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $332.65.

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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