PCG Asset Management LLC Purchases New Stake in American Express Company $AXP

PCG Asset Management LLC acquired a new position in shares of American Express Company (NYSE:AXP) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 755 shares of the payment services company’s stock, valued at approximately $241,000.

Other hedge funds have also recently bought and sold shares of the company. Nuveen LLC bought a new position in American Express in the first quarter valued at approximately $1,454,667,000. Wellington Management Group LLP increased its stake in shares of American Express by 13.7% in the 1st 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 purchasing an additional 2,168,445 shares during the last quarter. Goldman Sachs Group Inc. increased its stake 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 valued at $1,278,711,000 after purchasing an additional 965,221 shares during the last quarter. Provident Trust Co. raised its holdings in shares of American Express by 136.6% during the 2nd quarter. Provident Trust Co. now owns 1,108,971 shares of the payment services company’s stock worth $353,740,000 after buying an additional 640,214 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of American Express by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 45,843,893 shares of the payment services company’s stock worth $12,334,299,000 after buying an additional 605,900 shares during the last quarter. 84.33% of the stock is owned by institutional investors.

American Express Trading Down 0.2%

Shares of NYSE AXP opened at $367.93 on Tuesday. The firm has a 50 day moving average price of $340.46 and a two-hundred day moving average price of $315.45. The stock has a market cap of $253.45 billion, a P/E ratio of 24.69, a price-to-earnings-growth 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 debt-to-equity ratio of 1.78, a quick ratio of 1.59 and a current ratio of 1.61.

American Express (NYSE:AXP) last issued its quarterly earnings data on Friday, October 17th. The payment services company reported $4.14 earnings per share for the quarter, topping the consensus estimate of $3.98 by $0.16. The company had revenue of $18.43 billion for the quarter, compared to analysts’ expectations of $18.03 billion. American Express had a net margin of 14.97% and a return on equity of 33.41%. American Express’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.49 earnings per share. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. As a group, equities analysts forecast that American Express Company will post 15.33 EPS for the current year.

American Express Dividend Announcement

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

Insider Buying and Selling

In other news, CMO Elizabeth Rutledge sold 50,000 shares of the company’s stock in a transaction 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 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Vice Chairman Douglas E. Buckminster sold 23,505 shares of American Express stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $326.37, for a total transaction of $7,671,326.85. Following the transaction, the insider directly owned 123,613 shares of the company’s stock, valued at $40,343,574.81. This represents a 15.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 193,292 shares of company stock valued at $65,363,878 over the last 90 days. 0.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

AXP has been the topic of a number of recent analyst reports. Evercore ISI lifted their target price on American Express from $330.00 to $365.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Barclays lifted their price target on shares of American Express from $336.00 to $355.00 and gave the company an “equal weight” rating in a report on Monday, October 20th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of American Express from $371.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, July 21st. Keefe, Bruyette & Woods boosted their target price on shares of American Express from $371.00 to $394.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. Finally, HSBC set a $295.00 price target on American Express and gave the company a “hold” rating in a research note on Friday, October 10th. Eight equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus 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.