Forsta AP Fonden Sells 2,500 Shares of American Express Company $AXP

Forsta AP Fonden lessened its holdings in American Express Company (NYSE:AXP) by 1.5% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 161,200 shares of the payment services company’s stock after selling 2,500 shares during the quarter. Forsta AP Fonden’s holdings in American Express were worth $51,420,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Nuveen LLC purchased a new position in American Express in the 1st quarter worth about $1,454,667,000. Wellington Management Group LLP grew its stake in American Express by 13.7% in the 1st quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company’s stock worth $4,849,777,000 after acquiring an additional 2,168,445 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of American Express by 25.5% during the first quarter. Goldman Sachs Group Inc. now owns 4,752,690 shares of the payment services company’s stock worth $1,278,711,000 after acquiring an additional 965,221 shares during the period. Provident Trust Co. raised its stake in shares of American Express by 136.6% during the second quarter. Provident Trust Co. now owns 1,108,971 shares of the payment services company’s stock valued at $353,740,000 after acquiring an additional 640,214 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of American Express by 1.3% in the first quarter. Vanguard Group Inc. now owns 45,843,893 shares of the payment services company’s stock valued at $12,334,299,000 after purchasing an additional 605,900 shares during the period. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AXP. Compass Point reaffirmed a “neutral” rating and set a $324.00 target price on shares of American Express in a research report on Monday, October 20th. DZ Bank upgraded American Express from a “sell” rating to a “hold” rating and set a $340.00 price objective for the company in a report on Tuesday, October 21st. Evercore ISI upped their price objective on shares of American Express from $330.00 to $365.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Truist Financial raised their target price on shares of American Express from $375.00 to $395.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Finally, UBS Group upped their price target on shares of American Express from $330.00 to $340.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Eight investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, American Express has an average rating of “Hold” and an average target price of $332.65.

American Express Price Performance

Shares of AXP opened at $370.04 on Wednesday. The company has a 50 day moving average of $341.23 and a two-hundred day moving average of $316.19. 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 twelve month low of $220.43 and a twelve month high of $373.08. The company has a market cap of $254.90 billion, a price-to-earnings ratio of 24.83, a price-to-earnings-growth ratio of 1.90 and a beta of 1.27.

American Express (NYSE:AXP) last issued its quarterly earnings data 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 return on equity of 33.41% and a net margin of 14.97%.The firm had revenue of $18.43 billion during the quarter, compared to analyst estimates of $18.03 billion. During the same quarter in the prior year, the business posted $3.49 EPS. The business’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. As a group, analysts predict that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Friday, October 10th were paid a dividend of $0.82 per share. The ex-dividend date was 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 presently 22.01%.

Insider Activity

In other American Express news, CMO Elizabeth Rutledge sold 50,000 shares of the firm’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $360.21, for a total value of $18,010,500.00. Following the completion of the transaction, the chief marketing officer owned 85,577 shares of the company’s stock, valued at approximately $30,825,691.17. This trade represents a 36.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Stephen J. Squeri sold 112,272 shares of American Express stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $329.86, for a total transaction of $37,034,041.92. Following the sale, the chief executive officer owned 92,810 shares of the company’s stock, valued at $30,614,306.60. The trade was a 54.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 193,292 shares of company stock valued at $65,363,878. 0.20% of the stock is owned by company insiders.

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.