State of New Jersey Common Pension Fund D Cuts Stake in American Express Company $AXP

Key Points

• State of New Jersey Common Pension Fund D trimmed its stake in American Express by 2.5%, selling 4,902 shares and leaving it with 191,205 shares valued at about $70.74 million at quarter-end.
• Heavy insider selling has occurred recently — insiders sold 73,944 shares worth roughly $26.1 million over the last 90 days (notably Denise Pickett and Howard Grosfield) and insiders now own just 0.14% of the company.
• American Express beat EPS expectations ($4.28 vs. $4.01) but reported revenue of $14.22 billion versus a stated consensus of $18.60 billion, raised its quarterly dividend to $0.95 (annualized $3.80, 1.2% yield), and carries a Street consensus rating of Hold with an average target of $357.47.

State of New Jersey Common Pension Fund D decreased its holdings in shares of American Express Company (NYSE:AXP) by 2.5% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 191,205 shares of the payment services company's stock after selling 4,902 shares during the period. State of New Jersey Common Pension Fund D's holdings in American Express were worth $70,736,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AXP. Joseph Group Capital Management acquired a new stake in American Express during the 4th quarter worth about $26,000. Canandaigua National Trust Co of Florida purchased a new stake in shares of American Express in the fourth quarter worth about $345,000. W.G. Shaheen & Associates DBA Whitney & Co purchased a new position in American Express during the fourth quarter valued at approximately $1,723,000. Rachor Investment Advisory Services LLC purchased a new stake in American Express in the 4th quarter worth approximately $223,000. Finally, Simplicity Wealth LLC grew its stake in shares of American Express by 13.5% during the 4th quarter. Simplicity Wealth LLC now owns 1,869 shares of the payment services company's stock worth $691,000 after purchasing an additional 223 shares during the period. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at American Express

In related news, insider Denise Pickett sold 23,385 shares of the stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $356.91, for a total transaction of $8,346,340.35. Following the sale, the insider owned 7,754 shares of the company's stock, valued at $2,767,480.14. This trade represents a 75.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Howard Grosfield sold 8,134 shares of the firm's stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $346.73, for a total transaction of $2,820,301.82. Following the sale, the insider owned 9,433 shares in the company, valued at approximately $3,270,704.09. This trade represents a 46.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 73,944 shares of company stock valued at $26,114,366. Insiders own 0.14% of the company's stock.

American Express Price Performance

Shares of NYSE AXP opened at $318.19 on Thursday. The stock's 50-day simple moving average is $312.08 and its 200-day simple moving average is $344.28. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.56 and a current ratio of 1.57. The firm has a market capitalization of $217.11 billion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 1.30 and a beta of 1.13. American Express Company has a fifty-two week low of $266.52 and a fifty-two week high of $387.49.

American Express (NYSE:AXP - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The payment services company reported $4.28 earnings per share for the quarter, beating the consensus estimate of $4.01 by $0.27. The business had revenue of $14.22 billion during the quarter, compared to the consensus estimate of $18.60 billion. American Express had a return on equity of 33.95% and a net margin of 15.13%.The company's revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the company earned $3.64 earnings per share. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. As a group, equities research analysts forecast that American Express Company will post 17.59 EPS for the current fiscal year.

American Express Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Friday, April 3rd will be given a $0.95 dividend. The ex-dividend date is Thursday, April 2nd. This represents a $3.80 annualized dividend and a dividend yield of 1.2%. This is a boost from American Express's previous quarterly dividend of $0.82. American Express's payout ratio is presently 23.71%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. TD Cowen reissued a "hold" rating on shares of American Express in a research note on Thursday, January 8th. Bank of America raised their price objective on shares of American Express from $381.00 to $387.00 and gave the stock a "buy" rating in a research report on Friday, April 24th. Barclays dropped their price target on shares of American Express from $323.00 to $322.00 and set an "equal weight" rating for the company in a research note on Friday, April 24th. Royal Bank Of Canada set a $415.00 target price on shares of American Express in a report on Friday, April 10th. Finally, UBS Group restated a "neutral" rating and issued a $395.00 price objective on shares of American Express in a report on Wednesday, February 4th. Eight analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $357.47.

American Express Profile

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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