American Express Company $AXP Shares Sold by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. lowered its stake in American Express Company (NYSE:AXP) by 2.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,427,713 shares of the payment services company’s stock after selling 28,625 shares during the period. American Express comprises 2.6% of Beutel Goodman & Co Ltd.’s investment portfolio, making the stock its 4th biggest position. Beutel Goodman & Co Ltd.’s holdings in American Express were worth $455,412,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in AXP. Norges Bank purchased a new position in American Express in the second quarter worth approximately $1,897,335,000. Nuveen LLC purchased a new stake in shares of American Express in the 1st quarter valued at approximately $1,454,667,000. Wellington Management Group LLP raised its holdings in shares of American Express by 13.7% in the 1st quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company’s stock valued at $4,849,777,000 after purchasing an additional 2,168,445 shares in the last quarter. Laurel Wealth Advisors LLC lifted its position in shares of American Express by 31,595.9% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,742,009 shares of the payment services company’s stock worth $555,666,000 after purchasing an additional 1,736,513 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in American Express by 11.1% in the second quarter. Geode Capital Management LLC now owns 13,487,316 shares of the payment services company’s stock valued at $4,282,984,000 after buying an additional 1,349,746 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AXP. Keefe, Bruyette & Woods raised their target price on American Express from $371.00 to $394.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. Evercore ISI increased their price target on shares of American Express from $330.00 to $365.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. Truist Financial raised their price objective on shares of American Express from $375.00 to $395.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Wells Fargo & Company boosted their price objective on shares of American Express from $375.00 to $400.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Finally, Morgan Stanley upped their target price on shares of American Express from $311.00 to $362.00 and gave the company an “equal weight” rating in a report on Monday, September 29th. 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 company. Based on data from MarketBeat.com, American Express has an average rating of “Hold” and a consensus price target of $332.65.

Insider Activity

In related news, insider Douglas Tabish sold 2,515 shares of the firm’s stock in a transaction dated Thursday, October 23rd. The shares were sold at an average price of $355.61, for a total value of $894,359.15. Following the completion of the sale, the insider owned 2,515 shares in the company, valued at $894,359.15. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Denise Pickett sold 5,000 shares of American Express stock in a transaction that occurred on Wednesday, October 22nd. The shares were sold at an average price of $350.73, for a total value of $1,753,650.00. Following the completion of the sale, the insider owned 7,726 shares in the company, valued at approximately $2,709,739.98. This trade represents a 39.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 57,515 shares of company stock valued at $20,658,509 over the last quarter. Corporate insiders own 0.20% of the company’s stock.

American Express Trading Up 0.8%

Shares of AXP stock opened at $370.93 on Friday. The company has a market capitalization of $255.51 billion, a P/E ratio of 24.89, a price-to-earnings-growth ratio of 1.66 and a beta of 1.14. The company has a current ratio of 1.61, a quick ratio of 1.59 and a debt-to-equity ratio of 1.78. The business’s 50 day moving average is $350.12 and its two-hundred day moving average is $324.63. American Express Company has a twelve month low of $220.43 and a twelve month high of $377.23.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, October 17th. The payment services company reported $4.14 earnings per share for the quarter, topping the consensus estimate of $3.98 by $0.16. American Express had a return on equity of 33.41% and a net margin of 14.97%.The firm had revenue of $17.14 billion during the quarter, compared to the consensus estimate of $18.03 billion. During the same period last year, the company earned $3.49 earnings per share. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. Equities analysts forecast that American Express Company will post 15.33 EPS for the current year.

American Express Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Friday, October 10th were paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Friday, October 10th. American Express’s dividend payout ratio (DPR) is 22.01%.

American Express Profile

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.