PCG Asset Management LLC Purchases Shares of 755 American Express Company $AXP

PCG Asset Management LLC acquired a new position in shares of American Express Company (NYSE:AXP) in the 2nd quarter, HoldingsChannel reports. The fund acquired 755 shares of the payment services company’s stock, valued at approximately $241,000.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of American Express by 1.3% during the first quarter. Vanguard Group Inc. now owns 45,843,893 shares of the payment services company’s stock valued at $12,334,299,000 after purchasing an additional 605,900 shares during the period. Wellington Management Group LLP grew its stake in American Express by 13.7% in the first 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 during the period. Nuveen LLC bought a new stake in shares of American Express during the first quarter valued at approximately $1,454,667,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of American Express by 1.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,093,807 shares of the payment services company’s stock worth $1,370,489,000 after purchasing an additional 78,538 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of American Express by 25.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,752,690 shares of the payment services company’s stock worth $1,278,711,000 after purchasing an additional 965,221 shares in the last quarter. Institutional investors own 84.33% of the company’s stock.

American Express Trading Down 0.2%

Shares of AXP stock opened at $367.93 on Tuesday. 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 company has a market capitalization of $253.45 billion, a price-to-earnings ratio of 24.69, a PEG ratio of 1.90 and a beta of 1.27. American Express Company has a 52-week low of $220.43 and a 52-week high of $371.80. The company has a 50-day simple moving average of $340.46 and a two-hundred day simple moving average of $315.45.

American Express (NYSE:AXP) last announced its earnings results on Friday, October 17th. The payment services company reported $4.14 earnings per share for the quarter, topping analysts’ consensus estimates of $3.98 by $0.16. The firm had revenue of $18.43 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%.The company’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.49 EPS. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. Research analysts anticipate that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 10th. Shareholders of record on Friday, October 10th were paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Friday, October 10th. American Express’s dividend payout ratio is 22.01%.

Insider Activity

In related news, CMO Elizabeth Rutledge sold 50,000 shares of the business’s stock in a transaction dated 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 transaction, the chief marketing officer directly owned 85,577 shares of the company’s stock, valued at approximately $30,825,691.17. The trade was a 36.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Stephen J. Squeri sold 112,272 shares of the stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $329.86, for a total transaction of $37,034,041.92. Following the transaction, the chief executive officer owned 92,810 shares of the company’s stock, valued at approximately $30,614,306.60. The trade was a 54.74% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 193,292 shares of company stock worth $65,363,878. 0.20% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have commented on AXP shares. HSBC set a $295.00 price target on shares of American Express and gave the company a “hold” rating in a research note on Friday, October 10th. Keefe, Bruyette & Woods lifted their price objective on shares of American Express from $371.00 to $394.00 and gave the company an “outperform” rating in a report on Wednesday, October 1st. Compass Point restated a “neutral” rating and issued a $324.00 target price on shares of American Express in a report on Monday, October 20th. Royal Bank Of Canada reiterated an “outperform” rating on shares of American Express in a research note on Monday, July 14th. Finally, Evercore ISI increased their price objective on American Express from $330.00 to $365.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Eight 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $332.65.

American Express Company 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.