Cerity Partners LLC Has $60.53 Million Stake in American Express Company $AXP

Cerity Partners LLC raised its position in shares of American Express Company (NYSE:AXP) by 6.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 189,746 shares of the payment services company’s stock after purchasing an additional 12,098 shares during the quarter. Cerity Partners LLC’s holdings in American Express were worth $60,526,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in American Express by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 46,425,262 shares of the payment services company’s stock worth $14,808,730,000 after acquiring an additional 581,369 shares in the last quarter. Wellington Management Group LLP grew its stake in American Express by 13.7% during 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 acquiring an additional 2,168,445 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of American Express by 11.1% in the 2nd 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 purchasing an additional 1,349,746 shares during the period. Norges Bank purchased a new stake in shares of American Express in the second quarter worth approximately $1,897,335,000. Finally, Nuveen LLC acquired a new stake in shares of American Express during the first quarter worth approximately $1,454,667,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of American Express from $343.00 to $355.00 and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Weiss Ratings restated a “buy (b-)” rating on shares of American Express in a report on Monday, December 1st. Wells Fargo & Company increased their price objective on American Express from $375.00 to $400.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Keefe, Bruyette & Woods lifted their price objective on American Express from $371.00 to $394.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. Finally, Evercore ISI upped their target price on American Express from $330.00 to $365.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Nine analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $332.65.

American Express Stock Down 0.2%

AXP opened at $370.39 on Monday. The firm has a market cap of $255.14 billion, a P/E ratio of 24.86, a price-to-earnings-growth ratio of 1.67 and a beta of 1.14. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.59 and a current ratio of 1.61. The business has a 50 day moving average price of $350.69 and a 200 day moving average price of $325.60. American Express Company has a twelve month low of $220.43 and a twelve month high of $377.23.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, October 17th. The payment services company reported $4.14 EPS for the quarter, beating 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 company had revenue of $17.14 billion for the quarter, compared to the consensus estimate of $18.03 billion. During the same quarter last year, the company posted $3.49 earnings per share. The company’s revenue for the quarter 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. Research analysts forecast that American Express Company will post 15.33 EPS for the current year.

American Express Dividend Announcement

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

Insider Buying and Selling

In other news, insider Denise Pickett sold 5,000 shares of American Express stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $350.73, for a total value of $1,753,650.00. Following the transaction, the insider directly owned 7,726 shares in the company, valued at approximately $2,709,739.98. The trade was a 39.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Elizabeth Rutledge sold 50,000 shares of the business’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $360.21, for a total value of $18,010,500.00. Following the transaction, the chief marketing officer directly owned 85,577 shares of the company’s stock, valued at $30,825,691.17. This represents a 36.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 57,515 shares of company stock worth $20,658,509 in the last quarter. 0.20% of the stock is currently owned by company insiders.

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.