American Express Company $AXP Shares Purchased by Trustco Bank Corp N Y

Trustco Bank Corp N Y grew its stake in shares of American Express Company (NYSE:AXP) by 3.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,059 shares of the payment services company’s stock after buying an additional 300 shares during the quarter. American Express comprises 2.8% of Trustco Bank Corp N Y’s holdings, making the stock its 12th biggest position. Trustco Bank Corp N Y’s holdings in American Express were worth $2,890,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Briaud Financial Planning Inc acquired a new stake in American Express in the second quarter worth approximately $26,000. Access Investment Management LLC bought a new stake in shares of American Express in the 2nd quarter worth $26,000. 1 North Wealth Services LLC acquired a new stake in shares of American Express in the first quarter valued at $37,000. Chung Wu Investment Group LLC bought a new position in American Express during the second quarter valued at about $37,000. Finally, Solstein Capital LLC bought a new position in American Express during the second quarter valued at about $39,000. 84.33% of the stock is currently owned by institutional investors.

American Express Stock Down 2.3%

NYSE:AXP opened at $364.26 on Friday. The business’s fifty day moving average price is $342.89 and its 200 day moving average price is $316.91. The firm has a market capitalization of $250.92 billion, a price-to-earnings ratio of 24.45, a PEG ratio of 1.90 and a beta of 1.27. 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 Company has a 1-year low of $220.43 and a 1-year high of $377.23.

American Express (NYSE:AXP) last released its earnings results on Friday, October 17th. The payment services company reported $4.14 earnings per share for the quarter, beating the consensus estimate of $3.98 by $0.16. The company had revenue of $17.14 billion for the quarter, compared to analysts’ expectations of $18.03 billion. American Express had a return on equity of 33.41% and a net margin of 14.97%.The business’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 posted $3.49 EPS. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. On average, sell-side analysts forecast that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Announces Dividend

The business 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 annualized dividend and a yield of 0.9%. The ex-dividend date was Friday, October 10th. American Express’s dividend payout ratio is currently 22.01%.

Insider Transactions at American Express

In other news, insider Douglas Tabish sold 2,515 shares of the business’s stock in a transaction on Thursday, October 23rd. The shares were sold at an average price of $355.61, for a total transaction of $894,359.15. Following the transaction, the insider directly owned 2,515 shares in the company, valued at $894,359.15. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Denise Pickett sold 5,000 shares of the stock in a transaction on Wednesday, October 22nd. The stock was sold at an average price of $350.73, for a total value 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. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 193,292 shares of company stock worth $65,363,878. 0.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. UBS Group boosted their price target on shares of American Express from $330.00 to $340.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. DZ Bank upgraded shares of American Express from a “sell” rating to a “hold” rating and set a $340.00 target price on the stock in a report on Tuesday, October 21st. Weiss Ratings cut shares of American Express from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, November 7th. Compass Point reaffirmed a “neutral” rating and issued a $324.00 price target on shares of American Express in a report on Monday, October 20th. Finally, Keefe, Bruyette & Woods raised their price objective on American Express from $371.00 to $394.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. Eight 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target 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.