Martingale Asset Management L P Sells 20,040 Shares of American Express Company $AXP

Martingale Asset Management L P trimmed its stake in American Express Company (NYSE:AXP) by 16.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 101,448 shares of the payment services company’s stock after selling 20,040 shares during the quarter. American Express makes up 0.8% of Martingale Asset Management L P’s holdings, making the stock its 20th biggest position. Martingale Asset Management L P’s holdings in American Express were worth $33,697,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Trajan Wealth LLC lifted its holdings in American Express by 30.9% during the third quarter. Trajan Wealth LLC now owns 24,901 shares of the payment services company’s stock valued at $8,271,000 after purchasing an additional 5,881 shares during the last quarter. Hillsdale Investment Management Inc. boosted its position in American Express by 218.7% during the third quarter. Hillsdale Investment Management Inc. now owns 8,540 shares of the payment services company’s stock worth $2,837,000 after purchasing an additional 5,860 shares during the period. ZEGA Investments LLC purchased a new position in shares of American Express in the third quarter worth about $1,080,000. Sumitomo Mitsui Trust Group Inc. raised its position in shares of American Express by 0.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,598,743 shares of the payment services company’s stock valued at $531,038,000 after purchasing an additional 4,080 shares during the period. Finally, Sumitomo Mitsui Financial Group Inc. raised its position in shares of American Express by 11.7% in the third quarter. Sumitomo Mitsui Financial Group Inc. now owns 82,863 shares of the payment services company’s stock valued at $27,524,000 after purchasing an additional 8,651 shares during the period. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Trading Down 1.4%

AXP stock opened at $301.69 on Friday. The company has a market capitalization of $207.14 billion, a PE ratio of 19.60, a price-to-earnings-growth ratio of 1.30 and a beta of 1.14. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.58 and a current ratio of 1.59. American Express Company has a one year low of $220.43 and a one year high of $387.49. The company’s 50 day moving average price is $345.46 and its two-hundred day moving average price is $348.85.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, January 30th. The payment services company reported $3.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.54 by ($0.01). American Express had a net margin of 15.00% and a return on equity of 33.49%. The business had revenue of ($17,139.00) million during the quarter, compared to analysts’ expectations of $18.91 billion. During the same period last year, the company posted $3.04 EPS. American Express’s revenue for the quarter was up 10.5% on a year-over-year basis. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. As a group, analysts predict that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Friday, April 3rd will be given a dividend of $0.95 per share. The ex-dividend date is Thursday, April 2nd. This is a positive change from American Express’s previous quarterly dividend of $0.82. This represents a $3.80 annualized dividend and a yield of 1.3%. American Express’s dividend payout ratio (DPR) is currently 21.31%.

Insider Buying and Selling

In other news, insider Howard Grosfield sold 8,134 shares of American Express stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $346.73, for a total value of $2,820,301.82. Following the transaction, the insider owned 9,433 shares in the company, valued at approximately $3,270,704.09. The trade was a 46.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ravikumar Radhakrishnan sold 15,000 shares of the business’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $356.58, for a total value of $5,348,700.00. Following the completion of the sale, the insider directly owned 8,945 shares of the company’s stock, valued at approximately $3,189,608.10. This trade represents a 62.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 73,944 shares of company stock valued at $26,114,366 over the last three months. 0.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

AXP has been the subject of several analyst reports. Wells Fargo & Company raised their price objective on shares of American Express from $400.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, December 17th. Morgan Stanley set a $395.00 target price on American Express in a research report on Tuesday, January 20th. TD Cowen reaffirmed a “hold” rating on shares of American Express in a report on Thursday, January 8th. The Goldman Sachs Group reiterated a “buy” rating and issued a $420.00 price target on shares of American Express in a research report on Tuesday, January 6th. Finally, Truist Financial decreased their price objective on American Express from $420.00 to $400.00 and set a “buy” rating on the stock in a research note on Monday, February 2nd. Nine analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $352.73.

About American Express

American Express is a global financial services company primarily known for its payment card products, travel services and merchant network. Founded in 1850 as an express mail business, the company evolved through the 20th century into a payments and travel-focused organization. Its core activities include issuing consumer and commercial charge and credit cards, operating a global card acceptance and processing network, and providing travel-related services and customer loyalty programs.

American Express issues a range of products for individuals, small businesses and large corporations, including personal cards, business and corporate cards, and co‑brand partnerships with airlines, hotels and retailers.