Cornerstone Advisors LLC Purchases 5,804 Shares of American Express Company $AXP

Cornerstone Advisors LLC grew its position in American Express Company (NYSE:AXP) by 11.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,105 shares of the payment services company’s stock after buying an additional 5,804 shares during the period. Cornerstone Advisors LLC’s holdings in American Express were worth $17,062,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. 10Elms LLP raised its position in American Express by 71.7% in the third quarter. 10Elms LLP now owns 91 shares of the payment services company’s stock valued at $28,000 after purchasing an additional 38 shares during the period. Financial Freedom LLC purchased a new position in shares of American Express during the 3rd quarter worth $134,000. EagleClaw Capital Managment LLC purchased a new position in shares of American Express during the 3rd quarter worth $251,000. Moors & Cabot Inc. increased its position in shares of American Express by 31.4% during the 3rd quarter. Moors & Cabot Inc. now owns 13,231 shares of the payment services company’s stock worth $4,023,000 after purchasing an additional 3,158 shares during the last quarter. Finally, Compass Capital Management Inc. purchased a new stake in American Express in the 3rd quarter valued at about $912,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

Insiders Place Their Bets

In other American Express news, insider Anna Marrs sold 44,910 shares of the business’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $327.20, for a total value of $14,694,552.00. Following the completion of the transaction, the insider owned 20,509 shares in the company, valued at $6,710,544.80. The trade was a 68.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Stephen J. Squeri sold 299,401 shares of the company’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $332.16, for a total value of $99,449,036.16. Following the sale, the chief executive officer directly owned 60,567 shares in the company, valued at $20,117,934.72. This represents a 83.17% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 414,171 shares of company stock worth $137,069,544 in the last ninety days. 0.14% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Barclays decreased their target price on shares of American Express from $342.00 to $340.00 and set an “equal weight” rating on the stock in a research report on Monday, October 26th. Morgan Stanley dropped their price target on shares of American Express from $382.00 to $380.00 and set an “equal weight” rating for the company in a research report on Monday, October 12th. Piper Sandler boosted their price target on shares of American Express from $396.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. JPMorgan Chase & Co. increased their price objective on shares of American Express from $360.00 to $365.00 and gave the stock an “overweight” rating in a research report on Monday, October 26th. Finally, UBS Group lifted their target price on shares of American Express from $345.00 to $346.00 and gave the company a “neutral” rating in a report on Monday, November 2nd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $365.42.

American Express Price Performance

AXP opened at $320.38 on Friday. The stock’s 50-day moving average price is $315.45 and its 200 day moving average price is $324.64. American Express Company has a 12-month low of $290.97 and a 12-month high of $387.49. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.64. The firm has a market cap of $214.83 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 1.34 and a beta of 1.09.

American Express (NYSE:AXP) last released its earnings results on Friday, October 23rd. The payment services company reported $4.68 earnings per share for the quarter, beating the consensus estimate of $4.50 by $0.18. The company had revenue of $20.06 billion during the quarter, compared to the consensus estimate of $20.12 billion. American Express had a return on equity of 34.19% and a net margin of 15.80%. American Express’s revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the company posted $4.14 EPS. American Express has set its FY 2026 guidance at 17.600-17.900 EPS. As a group, sell-side analysts expect that American Express Company will post 17.98 earnings per share for the current year.

American Express Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 10th. Investors of record on Friday, October 9th were paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, October 9th. American Express’s dividend payout ratio is presently 21.40%.

About American Express

American Express Company is a global payments and financial services company that operates a card-issuing business and a payments network. Its products and services include consumer, small-business and corporate cards, payment processing, lending, travel services and expense-management solutions. Founded in 1850 as an express mail business, the company expanded into financial services and became known for its charge cards and travel-related services. Today, it serves cardholders and businesses in the United States and markets around the world, connecting customers, merchants and financial institutions through its network.