Corient Private Wealth LLC Sells 125,228 Shares of American Express Company $AXP

Corient Private Wealth LLC cut its holdings in shares of American Express Company (NYSE:AXP) by 13.3% during the 2nd quarter, Holdings Channel reports. The firm owned 814,115 shares of the payment services company’s stock after selling 125,228 shares during the period. Corient Private Wealth LLC’s holdings in American Express were worth $259,686,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity at American Express

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

Analysts Set New Price Targets

Several equities analysts have recently commented on AXP shares. Wells Fargo & Company boosted their target price on shares of American Express from $375.00 to $400.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. JPMorgan Chase & Co. boosted their price objective on shares of American Express from $343.00 to $355.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. HSBC set a $295.00 target price on American Express and gave the stock a “hold” rating in a research note on Friday, October 10th. Wolfe Research initiated coverage on American Express in a research note on Monday, December 8th. They issued a “peer perform” rating on the stock. Finally, Truist Financial upped their price objective on American Express from $375.00 to $395.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. Nine equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $332.65.

American Express Stock Performance

NYSE AXP opened at $382.14 on Monday. The firm’s fifty day moving average price is $354.78 and its two-hundred day moving average price is $328.59. The stock has a market cap of $263.23 billion, a PE ratio of 25.65, a PEG ratio of 1.72 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. American Express Company has a fifty-two week low of $220.43 and a fifty-two week high of $387.49.

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

American Express Announces Dividend

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