American Express Company $AXP Shares Sold by Cacti Asset Management LLC

Cacti Asset Management LLC cut its position in American Express Company (NYSE:AXP) by 4.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 392,781 shares of the payment services company’s stock after selling 20,045 shares during the period. American Express makes up 9.0% of Cacti Asset Management LLC’s holdings, making the stock its 2nd largest position. Cacti Asset Management LLC’s holdings in American Express were worth $134,205,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of AXP. Brighton Jones LLC increased its stake in shares of American Express by 24.4% in the fourth quarter. Brighton Jones LLC now owns 6,481 shares of the payment services company’s stock worth $1,924,000 after acquiring an additional 1,273 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in American Express by 17.0% in the first quarter. EverSource Wealth Advisors LLC now owns 4,171 shares of the payment services company’s stock valued at $1,122,000 after purchasing an additional 605 shares during the last quarter. Raymond James Financial Inc. grew its position in American Express by 5.1% during the 1st quarter. Raymond James Financial Inc. now owns 1,034,409 shares of the payment services company’s stock worth $278,307,000 after purchasing an additional 50,277 shares during the period. Tyler Stone Wealth Management raised its stake in shares of American Express by 4.8% during the 1st quarter. Tyler Stone Wealth Management now owns 792 shares of the payment services company’s stock valued at $213,000 after buying an additional 36 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC grew its holdings in American Express by 2.5% during the first quarter. Steward Partners Investment Advisory LLC now owns 73,156 shares of the payment services company’s stock worth $19,683,000 after acquiring an additional 1,789 shares during the period. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

American Express Stock Performance

NYSE AXP opened at $382.14 on Monday. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.61 and a quick ratio of 1.59. The stock’s 50 day simple moving average is $354.78 and its 200-day simple moving average is $328.59. The company has a market cap of $263.23 billion, a PE ratio of 25.65, a price-to-earnings-growth ratio of 1.72 and a beta of 1.14. American Express Company has a 1-year low of $220.43 and a 1-year high of $387.49.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, October 17th. The payment services company reported $4.14 earnings per share for the quarter, beating analysts’ consensus estimates of $3.98 by $0.16. The company had revenue of $17.14 billion for the quarter, compared to analyst estimates of $18.03 billion. American Express had a return on equity of 33.41% and a net margin of 14.97%.The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the firm posted $3.49 EPS. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. As a group, equities research analysts anticipate that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Friday, October 10th were issued a dividend of $0.82 per share. 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 payout ratio is currently 22.01%.

Insider Transactions at American Express

In other news, insider Douglas Tabish sold 2,515 shares of the company’s stock in a transaction that occurred on Thursday, October 23rd. The stock was sold at an average price of $355.61, for a total value of $894,359.15. Following the completion of the sale, the insider directly owned 2,515 shares in the company, valued at $894,359.15. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CMO Elizabeth Rutledge sold 50,000 shares of the stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $360.21, for a total value of $18,010,500.00. Following the completion of the sale, the chief marketing officer directly owned 85,577 shares of the company’s stock, valued at approximately $30,825,691.17. This represents a 36.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 57,515 shares of company stock worth $20,658,509 in the last ninety days. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

AXP has been the topic of a number of analyst reports. HSBC set a $295.00 price objective on shares of American Express and gave the stock a “hold” rating in a research note on Friday, October 10th. DZ Bank upgraded American Express from a “sell” rating to a “hold” rating and set a $340.00 price target for the company in a research note on Tuesday, October 21st. Weiss Ratings reiterated a “buy (b-)” rating on shares of American Express in a research report on Monday, December 8th. Compass Point reissued a “neutral” rating and issued a $324.00 price objective on shares of American Express in a report on Monday, October 20th. Finally, UBS Group upped their target price on American Express from $330.00 to $340.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 7th. Nine investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, American Express currently has an average rating of “Hold” and an average target price 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.