SVB Wealth LLC Decreases Stock Holdings in American Express Company $AXP

SVB Wealth LLC lessened its stake in American Express Company (NYSE:AXP) by 50.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,981 shares of the payment services company’s stock after selling 5,988 shares during the quarter. SVB Wealth LLC’s holdings in American Express were worth $1,908,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in AXP. Access Investment Management LLC purchased a new stake in shares of American Express during the second quarter worth about $26,000. Briaud Financial Planning Inc acquired a new stake in American Express in the 2nd quarter worth about $26,000. Chung Wu Investment Group LLC acquired a new stake in American Express in the 2nd quarter worth about $37,000. Howard Hughes Medical Institute purchased a new stake in American Express during the 2nd quarter worth approximately $38,000. Finally, Solstein Capital LLC acquired a new position in shares of American Express during the second quarter valued at approximately $39,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AXP has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods lifted their price target on American Express from $371.00 to $394.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. Compass Point reaffirmed a “neutral” rating and set a $324.00 target price on shares of American Express in a research note on Monday, October 20th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of American Express in a report on Monday, December 1st. Wall Street Zen downgraded shares of American Express from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. Finally, Wells Fargo & Company boosted their price target 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. Nine investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $332.65.

Insider Buying and Selling at American Express

In other news, insider Denise Pickett sold 5,000 shares of the company’s stock in a transaction on Wednesday, October 22nd. The stock was sold at an average price of $350.73, for a total transaction of $1,753,650.00. Following the sale, the insider owned 7,726 shares of the company’s stock, valued at approximately $2,709,739.98. This represents a 39.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $18,010,500.00. Following the completion of the sale, the chief marketing officer directly owned 85,577 shares in the company, valued at approximately $30,825,691.17. This represents a 36.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 57,515 shares of company stock valued at $20,658,509 in the last 90 days. Company insiders own 0.20% of the company’s stock.

American Express Trading Down 2.3%

Shares of American Express stock opened at $361.96 on Tuesday. The stock has a 50 day moving average of $351.09 and a 200 day moving average of $326.13. 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 firm has a market capitalization of $249.34 billion, a price-to-earnings ratio of 24.29, a PEG ratio of 1.67 and a beta of 1.14. American Express Company has a fifty-two week low of $220.43 and a fifty-two week high of $377.23.

American Express (NYSE:AXP) last posted its earnings results on Friday, October 17th. The payment services company reported $4.14 EPS 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 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 for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.49 earnings per share. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. As a group, research analysts predict that American Express Company will post 15.33 earnings per share for the current year.

American Express Dividend Announcement

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

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.