First Eagle Investment Management LLC Trims Stock Position in American Express Company $AXP

First Eagle Investment Management LLC trimmed its position in American Express Company (NYSE:AXP) by 8.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,931,940 shares of the payment services company’s stock after selling 173,334 shares during the quarter. First Eagle Investment Management LLC owned about 0.28% of American Express worth $616,250,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Access Investment Management LLC purchased a new position in American Express in the second quarter worth approximately $26,000. Briaud Financial Planning Inc acquired a new position in shares of American Express in the 2nd quarter valued at $26,000. Chung Wu Investment Group LLC acquired a new position in shares of American Express in the 2nd quarter valued at $37,000. Solstein Capital LLC acquired a new stake in shares of American Express during the 2nd quarter worth about $39,000. Finally, Hughes Financial Services LLC purchased a new stake in American Express in the 1st quarter valued at about $35,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on AXP shares. Wall Street Zen raised shares of American Express from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. JPMorgan Chase & Co. increased their price objective on shares of American Express from $343.00 to $355.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Truist Financial boosted their target price on American Express from $375.00 to $395.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Monness Crespi & Hardt cut American Express from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 15th. Finally, Wells Fargo & Company lifted their price objective on American Express from $375.00 to $400.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Nine research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $332.65.

American Express Stock Performance

NYSE:AXP opened at $365.74 on Friday. American Express Company has a 52 week low of $220.43 and a 52 week high of $369.26. The company has a fifty day simple moving average of $338.99 and a two-hundred day simple moving average of $313.05. 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 cap of $251.94 billion, a price-to-earnings ratio of 24.55, a price-to-earnings-growth ratio of 1.90 and a beta of 1.27.

American Express (NYSE:AXP) last released its earnings results 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. 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 period last year, the business posted $3.49 earnings per share. American Express’s revenue 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, equities analysts anticipate that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Dividend Announcement

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

Insider Transactions at American Express

In other news, CEO Stephen J. Squeri sold 112,272 shares of American Express stock in a transaction on Thursday, September 4th. The shares were 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 of the company’s stock, valued at approximately $30,614,306.60. The trade was a 54.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Denise Pickett sold 5,000 shares of the business’s stock in a transaction on Wednesday, October 22nd. The stock was sold at an average price of $350.73, for a total transaction of $1,753,650.00. Following the transaction, 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 position. The disclosure for this sale is available in the SEC filing. Insiders have sold 193,292 shares of company stock valued at $65,363,878 over the last quarter. Insiders own 0.20% of the company’s stock.

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.