PNC Financial Services Group Inc. Sells 6,413 Shares of American Express Company $AXP

PNC Financial Services Group Inc. lessened its holdings in shares of American Express Company (NYSE:AXP) by 0.6% during the 2nd quarter, Holdings Channel reports. The firm owned 1,061,823 shares of the payment services company’s stock after selling 6,413 shares during the period. PNC Financial Services Group Inc.’s holdings in American Express were worth $338,700,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Capital Asset Advisory Services LLC boosted its position in shares of American Express by 2.8% during the second quarter. Capital Asset Advisory Services LLC now owns 1,191 shares of the payment services company’s stock worth $384,000 after acquiring an additional 32 shares during the last quarter. DLK Investment Management LLC lifted its position in shares of American Express by 3.8% in the second quarter. DLK Investment Management LLC now owns 869 shares of the payment services company’s stock worth $277,000 after buying an additional 32 shares in the last quarter. PFG Advisors increased its stake in American Express by 0.7% in the 2nd quarter. PFG Advisors now owns 5,059 shares of the payment services company’s stock worth $1,614,000 after acquiring an additional 34 shares during the last quarter. Financial Engines Advisors L.L.C. boosted its position in shares of American Express by 4.7% during the 1st quarter. Financial Engines Advisors L.L.C. now owns 772 shares of the payment services company’s stock valued at $208,000 after acquiring an additional 35 shares during the last quarter. Finally, Modern Wealth Management LLC grew its holdings in shares of American Express by 0.7% in the first quarter. Modern Wealth Management LLC now owns 4,921 shares of the payment services company’s stock valued at $1,324,000 after purchasing an additional 35 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Evercore ISI boosted their target price on shares of American Express from $330.00 to $365.00 and gave the stock an “in-line” rating in a report on Tuesday, September 30th. HSBC set a $295.00 price target on American Express and gave the company a “hold” rating in a report on Friday, October 10th. BTIG Research lifted their price objective 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. DZ Bank upgraded shares of American Express from a “sell” rating to a “hold” rating and set a $340.00 price target on the stock in a report on Tuesday, October 21st. Finally, Weiss Ratings cut American Express from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Eight investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $332.65.

Insiders Place Their Bets

In related news, insider Douglas Tabish sold 2,515 shares of the stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $355.61, for a total value of $894,359.15. Following the transaction, the insider owned 2,515 shares in the company, valued at approximately $894,359.15. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Denise Pickett sold 5,000 shares of American Express stock in a transaction that occurred on Wednesday, October 22nd. The shares were sold at an average price of $350.73, for a total transaction 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. The trade was a 39.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 193,292 shares of company stock valued at $65,363,878. Insiders own 0.20% of the company’s stock.

American Express Stock Performance

Shares of American Express stock opened at $370.04 on Wednesday. The company has a market capitalization of $254.90 billion, a PE ratio of 24.83, a P/E/G ratio of 1.90 and a beta of 1.27. The company has a 50-day simple moving average of $341.23 and a two-hundred day simple moving average of $316.19. American Express Company has a one year low of $220.43 and a one year high of $373.08. 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 quarterly earnings data on Friday, October 17th. The payment services company reported $4.14 earnings per share for the quarter, topping analysts’ consensus estimates of $3.98 by $0.16. The firm had revenue of $18.43 billion during 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 quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the firm earned $3.49 EPS. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. Research analysts expect that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 10th. Shareholders of record on Friday, October 10th were paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 0.9%. The ex-dividend date was Friday, October 10th. American Express’s payout ratio is presently 22.01%.

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.