Princeton Global Asset Management LLC Cuts Position in American Express Company $AXP

Princeton Global Asset Management LLC trimmed its position in shares of American Express Company (NYSE:AXP) by 88.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,121 shares of the payment services company’s stock after selling 8,604 shares during the period. Princeton Global Asset Management LLC’s holdings in American Express were worth $357,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in AXP. Schnieders Capital Management LLC acquired a new stake in shares of American Express in the second quarter valued at approximately $428,000. Evermay Wealth Management LLC lifted its holdings in American Express by 2.8% in the second quarter. Evermay Wealth Management LLC now owns 4,094 shares of the payment services company’s stock valued at $1,306,000 after acquiring an additional 111 shares during the period. Beverly Hills Private Wealth LLC lifted its holdings in American Express by 3.3% in the second quarter. Beverly Hills Private Wealth LLC now owns 7,752 shares of the payment services company’s stock valued at $2,473,000 after acquiring an additional 249 shares during the period. Balboa Wealth Partners lifted its holdings in American Express by 12.4% in the second quarter. Balboa Wealth Partners now owns 7,323 shares of the payment services company’s stock valued at $2,336,000 after acquiring an additional 810 shares during the period. Finally, Calamos Wealth Management LLC increased its position in shares of American Express by 3.0% in the second quarter. Calamos Wealth Management LLC now owns 55,449 shares of the payment services company’s stock valued at $17,687,000 after buying an additional 1,597 shares in the last quarter. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Glenda G. Mcneal sold 50,000 shares of the company’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total value of $15,475,000.00. Following the completion of the sale, the insider owned 10,957 shares in the company, valued at $3,391,191.50. This represents a 82.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $326.37, for a total value of $7,671,326.85. Following the sale, the insider directly owned 123,613 shares of the company’s stock, valued at approximately $40,343,574.81. This represents a 15.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 269,996 shares of company stock valued at $85,261,270. 0.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

AXP has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft lifted their price objective on American Express from $371.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. Evercore ISI lifted their price objective on American Express from $330.00 to $365.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. Monness Crespi & Hardt lowered American Express from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 15th. BTIG Research boosted their price target on American Express from $277.00 to $307.00 and gave the stock a “sell” rating in a research report on Friday. Finally, Compass Point reissued a “neutral” rating and set a $324.00 price target on shares of American Express in a research report on Monday. Nine analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $332.26.

American Express Price Performance

Shares of AXP opened at $349.21 on Tuesday. The company has a market cap of $243.01 billion, a P/E ratio of 23.44, a PEG ratio of 1.81 and a beta of 1.29. The stock has a fifty day moving average price of $326.69 and a 200 day moving average price of $303.47. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.71 and a quick ratio of 1.69. American Express Company has a 12 month low of $220.43 and a 12 month high of $350.22.

American Express (NYSE:AXP) last released its quarterly 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 $18.43 billion during the quarter, compared to analysts’ expectations of $18.03 billion. During the same quarter in the prior year, the business posted $3.49 earnings per share. The company’s revenue for the quarter 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, research analysts forecast that American Express Company will post 15.33 earnings per share for the current year.

American Express Dividend Announcement

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