American Express Company $AXP Shares Sold by Tufton Capital Management

Tufton Capital Management reduced its holdings in American Express Company (NYSE:AXP) by 29.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,213 shares of the payment services company’s stock after selling 1,349 shares during the quarter. Tufton Capital Management’s holdings in American Express were worth $1,024,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Briaud Financial Planning Inc acquired a new position in American Express during the second quarter worth $26,000. Access Investment Management LLC acquired a new position in American Express during the second quarter worth $26,000. Hughes Financial Services LLC acquired a new position in American Express during the first quarter worth $35,000. 1 North Wealth Services LLC acquired a new position in American Express during the first quarter worth $37,000. Finally, Chung Wu Investment Group LLC acquired a new position in American Express during the second quarter worth $37,000. 84.33% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Denise Pickett sold 5,000 shares of American Express 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 completion of the sale, the insider owned 7,726 shares of the company’s stock, valued at $2,709,739.98. The trade was a 39.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Laureen Seeger sold 16,998 shares of the business’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $294.83, for a total value of $5,011,520.34. Following the sale, the insider directly owned 9,001 shares of the company’s stock, valued at approximately $2,653,764.83. This trade represents a 65.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 160,290 shares of company stock valued at $52,364,898. 0.20% of the stock is currently owned by company insiders.

American Express Price Performance

Shares of NYSE:AXP opened at $361.47 on Tuesday. The company has a market cap of $249.00 billion, a P/E ratio of 24.26, a P/E/G ratio of 1.90 and a beta of 1.29. The company has a quick ratio of 1.59, a current ratio of 1.61 and a debt-to-equity ratio of 1.78. American Express Company has a 52 week low of $220.43 and a 52 week high of $365.75. The business has a fifty day simple moving average of $336.56 and a 200-day simple moving average of $311.54.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, October 17th. The payment services company reported $4.14 EPS for the quarter, beating analysts’ consensus estimates of $3.98 by $0.16. The business had revenue of $18.43 billion during the quarter, compared to the consensus estimate 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 earned $3.49 earnings per share. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. Equities research analysts forecast that American Express Company will post 15.33 EPS for the current year.

American Express Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Friday, October 10th will be given 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 dividend yield of 0.9%. American Express’s payout ratio is currently 22.01%.

Analyst Upgrades and Downgrades

AXP has been the subject of several research reports. Evercore ISI lifted their price objective on American Express from $330.00 to $365.00 and gave the stock an “in-line” rating in a report on Tuesday, September 30th. Truist Financial lifted their price objective on American Express from $375.00 to $395.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Morgan Stanley lifted their price objective on American Express from $311.00 to $362.00 and gave the stock an “equal weight” rating in a report on Monday, September 29th. Monness Crespi & Hardt cut American Express from a “buy” rating to a “neutral” rating in a report on Tuesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on American Express from $371.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, July 21st. Nine investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $332.65.

American Express 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.