Carret Asset Management LLC Has $16.88 Million Holdings in American Express Company $AXP

Carret Asset Management LLC cut its holdings in shares of American Express Company (NYSE:AXP) by 1.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,923 shares of the payment services company’s stock after selling 698 shares during the period. American Express comprises approximately 1.8% of Carret Asset Management LLC’s investment portfolio, making the stock its 10th biggest position. Carret Asset Management LLC’s holdings in American Express were worth $16,881,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Briaud Financial Planning Inc bought a new stake in American Express during the second quarter worth $26,000. Hughes Financial Services LLC bought a new stake in American Express during the first quarter worth $35,000. 1 North Wealth Services LLC bought a new stake in American Express during the first quarter worth $37,000. Chung Wu Investment Group LLC bought a new stake in American Express during the second quarter worth $37,000. Finally, Solstein Capital LLC bought a new stake in American Express during the second quarter worth $39,000. 84.33% of the stock is currently owned by institutional investors.

American Express Stock Down 0.8%

Shares of NYSE:AXP opened at $357.99 on Thursday. The firm has a market cap of $246.60 billion, a P/E ratio of 24.03, a P/E/G ratio of 1.92 and a beta of 1.29. 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 12-month low of $220.43 and a 12-month high of $362.84. The business has a fifty day simple moving average of $333.81 and a 200 day simple moving average of $308.93.

American Express (NYSE:AXP) last announced its earnings results on Friday, October 17th. The payment services company reported $4.14 earnings per share (EPS) for the quarter, topping 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 business had revenue of $18.43 billion during the quarter, compared to analyst estimates of $18.03 billion. During the same period last year, the company earned $3.49 EPS. American Express’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. Analysts predict that American Express Company will post 15.33 earnings per share for the current year.

American Express Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Royal Bank Of Canada reiterated an “outperform” rating on shares of American Express in a report on Monday, July 14th. Morgan Stanley upped their price target on shares of American Express from $311.00 to $362.00 and gave the stock an “equal weight” rating in a report on Monday, September 29th. Deutsche Bank Aktiengesellschaft upped their price target on shares of American Express from $371.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, July 21st. Evercore ISI upped their price target on shares of American Express from $330.00 to $365.00 and gave the stock an “in-line” rating in a report on Tuesday, September 30th. Finally, Compass Point reiterated a “neutral” rating and set a $324.00 price target on shares of American Express in a report on Monday, October 20th. Nine research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $332.65.

Insider Activity

In other American Express news, CEO Stephen J. Squeri sold 112,272 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 92,810 shares in the company, valued at approximately $30,614,306.60. This trade represents a 54.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Denise Pickett sold 5,000 shares of the stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $350.73, for a total value of $1,753,650.00. Following the sale, the insider owned 7,726 shares of the company’s stock, valued at approximately $2,709,739.98. The trade was a 39.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 222,011 shares of company stock worth $70,725,044. 0.20% of the stock is owned by 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.