First Interstate Bank Has $7.39 Million Stake in American Express Company $AXP

First Interstate Bank lowered its holdings in shares of American Express Company (NYSE:AXP) by 1.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,179 shares of the payment services company’s stock after selling 363 shares during the quarter. First Interstate Bank’s holdings in American Express were worth $7,394,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. MorganRosel Wealth Management LLC acquired a new stake in American Express in the 1st quarter valued at approximately $29,000. Hughes Financial Services LLC acquired a new stake in American Express in the 1st quarter valued at approximately $35,000. 1 North Wealth Services LLC acquired a new stake in American Express in the 1st quarter valued at approximately $37,000. Chung Wu Investment Group LLC acquired a new stake in American Express in the 2nd quarter valued at approximately $37,000. Finally, Abound Financial LLC acquired a new position in shares of American Express during the 1st quarter worth approximately $41,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AXP has been the topic of several recent analyst reports. Weiss Ratings raised American Express from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of American Express in a research report on Monday, July 14th. BTIG Research reaffirmed a “sell” rating on shares of American Express in a research report on Friday. William Blair reaffirmed an “outperform” rating on shares of American Express in a research report on Wednesday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on American Express from $371.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. Nine equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $323.60.

Insiders Place Their Bets

In related news, CEO Stephen J. Squeri sold 112,272 shares of the business’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $329.86, for a total value of $37,034,041.92. Following the completion of the sale, the chief executive officer directly owned 92,810 shares in the company, valued at $30,614,306.60. The trade was a 54.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Laureen Seeger sold 16,998 shares of the business’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $294.83, for a total value of $5,011,520.34. Following the completion of the sale, the insider owned 9,001 shares of the company’s stock, valued at $2,653,764.83. This trade represents a 65.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 269,996 shares of company stock worth $85,261,270 over the last three months. 0.20% of the stock is currently owned by corporate insiders.

American Express Stock Performance

Shares of NYSE AXP opened at $346.45 on Monday. The company has a current ratio of 1.71, a quick ratio of 1.69 and a debt-to-equity ratio of 1.78. American Express Company has a 12 month low of $220.43 and a 12 month high of $349.19. The stock has a 50 day moving average of $325.64 and a 200-day moving average of $302.66. The company has a market capitalization of $241.09 billion, a P/E ratio of 23.25, a P/E/G ratio of 1.81 and a beta of 1.29.

American Express (NYSE:AXP) last issued its earnings results on Friday, October 17th. The payment services company reported $4.14 EPS for the quarter, topping 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 $18.43 billion during the quarter, compared to the consensus estimate of $18.03 billion. During the same period in the previous year, the company posted $3.49 EPS. The firm’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. As a group, equities research analysts predict that American Express Company will post 15.33 EPS for the current year.

American Express Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Friday, October 10th will be paid 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 is 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.