American Express Company $AXP Shares Sold by Van Cleef Asset Management Inc

Van Cleef Asset Management Inc reduced its position in shares of American Express Company (NYSE:AXP) by 1.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 41,774 shares of the payment services company’s stock after selling 408 shares during the quarter. American Express makes up 1.4% of Van Cleef Asset Management Inc’s portfolio, making the stock its 17th biggest holding. Van Cleef Asset Management Inc’s holdings in American Express were worth $13,325,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of AXP. Vanguard Group Inc. increased its holdings in shares of American Express by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 45,843,893 shares of the payment services company’s stock worth $12,334,299,000 after buying an additional 605,900 shares during the last quarter. Wellington Management Group LLP lifted its holdings in American Express by 13.7% in the first quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company’s stock valued at $4,849,777,000 after acquiring an additional 2,168,445 shares during the last quarter. Nuveen LLC purchased a new position in American Express in the first quarter worth approximately $1,454,667,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in American Express by 1.6% during 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 worth $1,370,489,000 after acquiring an additional 78,538 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in American Express by 25.5% in the first quarter. Goldman Sachs Group Inc. now owns 4,752,690 shares of the payment services company’s stock valued at $1,278,711,000 after purchasing an additional 965,221 shares during the period. 84.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at American Express

In related news, CEO Stephen J. Squeri sold 112,272 shares of the company’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 sale, the chief executive officer directly owned 92,810 shares in the company, valued at approximately $30,614,306.60. This represents a 54.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Denise Pickett sold 5,000 shares of the firm’s 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 completion of the sale, the insider directly owned 7,726 shares in the company, valued at approximately $2,709,739.98. This trade represents a 39.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 193,292 shares of company stock worth $65,363,878 over the last quarter. 0.20% of the stock is currently owned by insiders.

American Express Price Performance

Shares of AXP opened at $368.90 on Friday. The company has a market cap of $254.12 billion, a P/E ratio of 24.76, a PEG ratio of 1.90 and a beta of 1.27. American Express Company has a fifty-two week low of $220.43 and a fifty-two week high of $370.00. The company has a quick ratio of 1.59, a current ratio of 1.61 and a debt-to-equity ratio of 1.78. The firm’s 50 day moving average price is $339.73 and its 200 day moving average price is $313.93.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, October 17th. The payment services company reported $4.14 EPS for the quarter, beating the consensus estimate of $3.98 by $0.16. American Express had a net margin of 14.97% and a return on equity of 33.41%. The company had revenue of $18.43 billion during the quarter, compared to analysts’ expectations of $18.03 billion. During the same quarter last year, the company posted $3.49 EPS. The firm’s 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, research analysts forecast that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Friday, October 10th will be 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 of this dividend is Friday, October 10th. American Express’s payout ratio is presently 22.01%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Wall Street Zen upgraded shares of American Express from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Truist Financial boosted their price target on shares of American Express from $375.00 to $395.00 and gave the company a “buy” rating in a research note on Monday, October 20th. HSBC set a $295.00 price objective on shares of American Express and gave the stock a “hold” rating in a report on Friday, October 10th. Monness Crespi & Hardt lowered American Express from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 15th. Finally, Wells Fargo & Company upped their price target on American Express from $375.00 to $400.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Nine analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average 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.