Onyx Bridge Wealth Group LLC Cuts Stake in American Express Company $AXP

Onyx Bridge Wealth Group LLC cut its stake in American Express Company (NYSE:AXP) by 23.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 686 shares of the payment services company’s stock after selling 205 shares during the period. Onyx Bridge Wealth Group LLC’s holdings in American Express were worth $219,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of American Express by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 45,843,893 shares of the payment services company’s stock valued at $12,334,299,000 after purchasing an additional 605,900 shares during the last quarter. Wellington Management Group LLP raised its position 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 worth $4,849,777,000 after buying an additional 2,168,445 shares during the period. Nuveen LLC purchased a new position in shares of American Express in the 1st quarter worth $1,454,667,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in American Express by 1.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,093,807 shares of the payment services company’s stock valued at $1,370,489,000 after acquiring an additional 78,538 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in American Express by 25.5% during the first quarter. Goldman Sachs Group Inc. now owns 4,752,690 shares of the payment services company’s stock worth $1,278,711,000 after acquiring an additional 965,221 shares during the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AXP. William Blair reaffirmed an “outperform” rating on shares of American Express in a research note on Wednesday, July 2nd. HSBC set a $295.00 price target on shares of American Express and gave the company a “hold” rating in a research report on Friday, October 10th. Truist Financial increased their price objective on shares of American Express from $375.00 to $395.00 and gave the stock a “buy” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft lifted their target price on shares of American Express from $371.00 to $375.00 and gave the company a “buy” rating in a report on Monday, July 21st. Finally, Evercore ISI increased their price target on American Express from $330.00 to $365.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. Nine equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $332.65.

Insider Activity

In other news, CEO Stephen J. Squeri sold 112,272 shares of the firm’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $329.86, for a total transaction of $37,034,041.92. Following the completion of the sale, the chief executive officer owned 92,810 shares of the company’s stock, valued at approximately $30,614,306.60. This trade represents a 54.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anna Marrs sold 5,500 shares of the company’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $310.77, for a total transaction of $1,709,235.00. Following the completion of the sale, the insider directly owned 20,311 shares in the company, valued at $6,312,049.47. This represents a 21.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 269,996 shares of company stock worth $85,261,270 over the last quarter. Corporate insiders own 0.20% of the company’s stock.

American Express Price Performance

AXP opened at $351.68 on Thursday. American Express Company has a twelve month low of $220.43 and a twelve month high of $357.73. The firm has a market cap of $242.25 billion, a price-to-earnings ratio of 23.60, a PEG ratio of 1.84 and a beta of 1.29. The company has a current ratio of 1.61, a quick ratio of 1.69 and a debt-to-equity ratio of 1.78. The company has a fifty day simple moving average of $328.64 and a 200 day simple moving average of $304.16.

American Express (NYSE:AXP) last posted its quarterly earnings data on Friday, October 17th. The payment services company reported $4.14 earnings per share for the quarter, beating analysts’ consensus estimates of $3.98 by $0.16. The company had revenue of $18.43 billion during 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%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the prior year, the company posted $3.49 EPS. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. Equities research analysts expect that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Friday, October 10th will be issued a $0.82 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $3.28 dividend on an annualized basis and a yield of 0.9%. American Express’s dividend 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.