Balboa Wealth Partners Boosts Holdings in American Express Company $AXP

Balboa Wealth Partners lifted its stake in shares of American Express Company (NYSE:AXP) by 12.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,323 shares of the payment services company’s stock after buying an additional 810 shares during the period. Balboa Wealth Partners’ holdings in American Express were worth $2,336,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of American Express by 1.3% during the first 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 period. Wellington Management Group LLP lifted its stake in shares of American Express by 13.7% during the first quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company’s stock worth $4,849,777,000 after buying an additional 2,168,445 shares during the period. Nuveen LLC acquired a new stake in shares of American Express during the first quarter worth $1,454,667,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of 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 buying an additional 78,538 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings 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 purchasing an additional 965,221 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on AXP. BTIG Research reissued a “sell” rating on shares of American Express in a report on Friday. Royal Bank Of Canada reissued an “outperform” rating on shares of American Express in a report on Monday, July 14th. Weiss Ratings raised shares of American Express from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. UBS Group lifted their price objective on shares of American Express from $330.00 to $340.00 and gave the company a “neutral” rating in a report on Tuesday, October 7th. Finally, DZ Bank cut shares of American Express from a “hold” rating to a “sell” rating in a report on Monday, July 21st. Nine analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $323.60.

Insider Buying and Selling

In other American Express news, insider Anna Marrs sold 5,500 shares of the business’s stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $310.77, for a total value of $1,709,235.00. Following the transaction, the insider directly owned 20,311 shares in the company, valued at $6,312,049.47. The trade was a 21.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Laureen Seeger sold 61,721 shares of the business’s stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $297.47, for a total transaction of $18,360,145.87. Following the completion of the transaction, the insider owned 9,001 shares in the company, valued at $2,677,527.47. The trade was a 87.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 269,996 shares of company stock worth $85,261,270 over the last ninety days. 0.20% of the stock is currently owned by insiders.

American Express Stock Performance

AXP opened at $346.45 on Monday. The firm has a market capitalization of $241.09 billion, a PE ratio of 23.25, a PEG ratio of 1.81 and a beta of 1.29. American Express Company has a twelve month low of $220.43 and a twelve month high of $349.19. The firm’s 50-day moving average price is $325.64 and its 200 day moving average price is $302.66. The company has a current ratio of 1.71, a quick ratio of 1.69 and a debt-to-equity ratio of 1.78.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, October 17th. The payment services company reported $4.14 earnings per share for the quarter, topping analysts’ consensus estimates of $3.98 by $0.16. The firm had revenue of $18.43 billion for the quarter, compared to analyst estimates of $18.03 billion. American Express had a net margin of 14.97% and a return on equity of 33.41%. American Express’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the business posted $3.49 earnings per share. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. As a group, sell-side analysts expect that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Friday, October 10th will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, October 10th. American Express’s payout ratio is presently 22.01%.

American Express Company 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.