Oak Thistle LLC Acquires Shares of 2,580 American Express Company $AXP

Oak Thistle LLC bought a new position in shares of American Express Company (NYSE:AXP) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,580 shares of the payment services company’s stock, valued at approximately $857,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of American Express during the second quarter valued at approximately $1,897,335,000. Laurel Wealth Advisors LLC raised its stake in American Express by 31,595.9% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,742,009 shares of the payment services company’s stock valued at $555,666,000 after purchasing an additional 1,736,513 shares during the last quarter. Geode Capital Management LLC lifted its holdings in American Express by 11.1% in the 2nd quarter. Geode Capital Management LLC now owns 13,487,316 shares of the payment services company’s stock valued at $4,282,984,000 after purchasing an additional 1,349,746 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in American Express by 26.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,125,133 shares of the payment services company’s stock worth $988,676,000 after purchasing an additional 646,039 shares during the last quarter. Finally, Provident Trust Co. boosted its stake in 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 purchasing an additional 640,214 shares during the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Stock Up 0.1%

AXP stock opened at $375.82 on Friday. American Express Company has a one year low of $220.43 and a one year high of $387.49. The firm has a market cap of $258.88 billion, a PE ratio of 25.22, a PEG ratio of 1.68 and a beta of 1.14. The firm’s 50 day moving average price is $358.93 and its 200-day moving average price is $330.45. 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 posted 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. American Express had a return on equity of 33.41% and a net margin of 14.97%.The company had revenue of $17.14 billion during the quarter, compared to analysts’ expectations of $18.03 billion. During the same quarter last year, the firm earned $3.49 earnings per share. The firm’s quarterly revenue 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. On average, equities research analysts anticipate that American Express Company will post 15.33 EPS for the current year.

American Express Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 10th. Investors of record on Friday, January 2nd will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, January 2nd. American Express’s payout ratio is 22.01%.

Insider Buying and Selling at American Express

In other American Express news, insider Douglas Tabish sold 2,515 shares of the stock in a transaction dated Thursday, October 23rd. The shares were sold at an average price of $355.61, for a total transaction of $894,359.15. Following the completion of the transaction, the insider owned 2,515 shares of the company’s stock, valued at $894,359.15. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CMO Elizabeth Rutledge sold 50,000 shares of American Express stock in a transaction dated 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 sale, the chief marketing officer owned 85,577 shares of the company’s stock, valued at approximately $30,825,691.17. This represents a 36.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 57,515 shares of company stock valued at $20,658,509 over the last 90 days. 0.20% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of American Express from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. BTIG Research raised their target price on shares of American Express from $277.00 to $307.00 and gave the stock a “sell” rating in a research note on Friday, October 17th. Wells Fargo & Company upped their price target on American Express from $400.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday. Keefe, Bruyette & Woods lifted their price objective on American Express from $371.00 to $394.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. Finally, Compass Point reissued a “neutral” rating and set a $324.00 price objective on shares of American Express in a research note on Monday, October 20th. Eight analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $334.30.

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.