Patrick M Sweeney & Associates Inc. Raises Holdings in American Express Company $AXP

Patrick M Sweeney & Associates Inc. increased its position in American Express Company (NYSE:AXP) by 19.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,241 shares of the payment services company’s stock after acquiring an additional 205 shares during the quarter. Patrick M Sweeney & Associates Inc.’s holdings in American Express were worth $407,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have 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 2nd quarter valued at approximately $26,000. Briaud Financial Planning Inc purchased a new position in American Express in the 2nd quarter valued at approximately $26,000. Chung Wu Investment Group LLC bought a new stake in American Express during the 2nd quarter valued at $37,000. Solstein Capital LLC bought a new stake in American Express during the 2nd quarter valued at $39,000. Finally, Proffitt & Goodson Inc. purchased a new stake in shares of American Express during the second quarter worth $41,000. Institutional investors own 84.33% of the company’s stock.

American Express Stock Performance

Shares of NYSE AXP opened at $364.26 on Friday. The stock’s 50-day moving average is $347.70 and its 200 day moving average is $322.36. The stock has a market cap of $250.92 billion, a price-to-earnings ratio of 24.45, a P/E/G ratio of 1.90 and a beta of 1.27. American Express Company has a 1-year low of $220.43 and a 1-year high of $377.23. The company has a current ratio of 1.61, a quick ratio of 1.59 and a debt-to-equity ratio of 1.78.

American Express (NYSE:AXP) last issued its earnings results on Friday, October 17th. The payment services company reported $4.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.98 by $0.16. The business had revenue of $17.14 billion during the quarter, compared to analyst estimates 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 in the prior year, the firm earned $3.49 earnings per share. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. On average, sell-side analysts anticipate that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 10th. Investors of record on Friday, October 10th were issued a dividend of $0.82 per share. 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 (DPR) is currently 22.01%.

Analysts Set New Price Targets

AXP has been the topic of a number of analyst reports. HSBC set a $295.00 price objective on American Express and gave the company a “hold” rating in a research note on Friday, October 10th. Truist Financial increased their price target on shares of American Express from $375.00 to $395.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Barclays boosted their price objective on shares of American Express from $336.00 to $355.00 and gave the company an “equal weight” rating in a research note on Monday, October 20th. Wall Street Zen downgraded shares of American Express from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Finally, JPMorgan Chase & Co. upped their price target on shares of American Express from $343.00 to $355.00 and gave the stock a “neutral” rating in a report on Tuesday, October 7th. Nine investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $332.65.

Insider Buying and Selling

In other news, Vice Chairman Douglas E. Buckminster sold 23,505 shares of American Express stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $326.37, for a total value of $7,671,326.85. Following the transaction, the insider owned 123,613 shares in the company, valued at approximately $40,343,574.81. The trade was a 15.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas Tabish sold 2,515 shares of the business’s stock in a transaction dated Thursday, October 23rd. The shares were sold at an average price of $355.61, for a total value of $894,359.15. Following the completion of the sale, the insider directly owned 2,515 shares of the company’s stock, valued at approximately $894,359.15. This trade represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 193,292 shares of company stock worth $65,363,878 over the last 90 days. Insiders own 0.20% of the company’s stock.

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.