Assetmark Inc. Has $24.39 Million Position in American Express Company $AXP

Assetmark Inc. raised its holdings in American Express Company (NYSE:AXP) by 2.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 76,453 shares of the payment services company’s stock after buying an additional 2,116 shares during the period. Assetmark Inc.’s holdings in American Express were worth $24,387,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Capital Asset Advisory Services LLC increased its stake in American Express by 2.8% in the 2nd quarter. Capital Asset Advisory Services LLC now owns 1,191 shares of the payment services company’s stock valued at $384,000 after buying an additional 32 shares during the last quarter. DLK Investment Management LLC increased its stake in shares of American Express by 3.8% during the 2nd quarter. DLK Investment Management LLC now owns 869 shares of the payment services company’s stock worth $277,000 after purchasing an additional 32 shares during the last quarter. Financial Engines Advisors L.L.C. increased its stake in shares of American Express by 4.7% during the 1st quarter. Financial Engines Advisors L.L.C. now owns 772 shares of the payment services company’s stock worth $208,000 after purchasing an additional 35 shares during the last quarter. Modern Wealth Management LLC increased its stake in shares of American Express by 0.7% during the 1st quarter. Modern Wealth Management LLC now owns 4,921 shares of the payment services company’s stock worth $1,324,000 after purchasing an additional 35 shares during the last quarter. Finally, Greenfield Savings Bank increased its stake in shares of American Express by 0.3% during the 2nd quarter. Greenfield Savings Bank now owns 13,116 shares of the payment services company’s stock worth $4,184,000 after purchasing an additional 35 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at American Express

In other American Express news, insider Douglas Tabish sold 2,515 shares of the company’s stock in a transaction on Thursday, October 23rd. The stock was sold at an average price of $355.61, for a total transaction of $894,359.15. Following the completion of the sale, the insider directly owned 2,515 shares in the company, valued at $894,359.15. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Denise Pickett sold 5,000 shares of American Express stock in a transaction on Wednesday, October 22nd. The shares were sold at an average price of $350.73, for a total value of $1,753,650.00. Following the completion of the transaction, the insider owned 7,726 shares in the company, valued at approximately $2,709,739.98. The trade was a 39.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 222,011 shares of company stock valued at $70,725,044. 0.20% of the stock is currently owned by insiders.

American Express Stock Performance

NYSE AXP opened at $360.70 on Friday. The company has a quick ratio of 1.59, a current ratio of 1.61 and a debt-to-equity ratio of 1.78. The company has a market capitalization of $248.47 billion, a P/E ratio of 24.21, a P/E/G ratio of 1.90 and a beta of 1.29. American Express Company has a 12-month low of $220.43 and a 12-month high of $365.75. The firm has a 50-day moving average price of $335.65 and a two-hundred day moving average price of $310.00.

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

American Express Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on AXP shares. Royal Bank Of Canada restated an “outperform” rating on shares of American Express in a research note 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. Deutsche Bank Aktiengesellschaft lifted their target price 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. UBS Group lifted their target price on shares of American Express from $330.00 to $340.00 and gave the stock a “neutral” rating in a report on Tuesday, October 7th. Finally, Compass Point reaffirmed a “neutral” rating and set a $324.00 target price on shares of American Express in a report on Monday, October 20th. Nine equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $332.65.

About American Express

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.