ProVise Management Group LLC Sells 867 Shares of American Express Company $AXP

ProVise Management Group LLC reduced its holdings in shares of American Express Company (NYSE:AXP) by 8.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,300 shares of the payment services company’s stock after selling 867 shares during the quarter. ProVise Management Group LLC’s holdings in American Express were worth $2,967,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC grew its position in American Express by 24.4% during the fourth quarter. Brighton Jones LLC now owns 6,481 shares of the payment services company’s stock valued at $1,924,000 after buying an additional 1,273 shares during the period. Bailard Inc. boosted its stake in American Express by 0.9% in the first quarter. Bailard Inc. now owns 10,408 shares of the payment services company’s stock valued at $2,800,000 after acquiring an additional 96 shares during the last quarter. Kingsview Wealth Management LLC grew its position in shares of American Express by 6.0% during the 1st quarter. Kingsview Wealth Management LLC now owns 24,191 shares of the payment services company’s stock valued at $6,508,000 after acquiring an additional 1,379 shares during the period. Creekmur Asset Management LLC grew its position in shares of American Express by 722.7% during the 1st quarter. Creekmur Asset Management LLC now owns 2,608 shares of the payment services company’s stock valued at $702,000 after acquiring an additional 2,291 shares during the period. Finally, Diversify Advisory Services LLC increased its stake in shares of American Express by 14.6% during the 1st quarter. Diversify Advisory Services LLC now owns 4,830 shares of the payment services company’s stock worth $1,290,000 after purchasing an additional 617 shares during the last quarter. Institutional investors own 84.33% of the company’s stock.

Insider Activity

In related news, insider Denise Pickett sold 5,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider directly owned 7,726 shares in the company, valued at $2,709,739.98. The trade was a 39.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Douglas Tabish sold 2,515 shares of the company’s stock in a transaction dated Thursday, October 23rd. The stock was sold at an average price of $355.61, for a total value of $894,359.15. Following the completion of the transaction, the insider owned 2,515 shares in the company, valued at $894,359.15. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 193,292 shares of company stock worth $65,363,878. Company insiders own 0.20% of the company’s stock.

American Express Stock Down 2.2%

AXP stock opened at $356.87 on Friday. The stock has a 50-day simple moving average of $343.50 and a two-hundred day simple moving average of $317.55. American Express Company has a twelve month low of $220.43 and a twelve month high of $377.23. The firm has a market capitalization of $245.83 billion, a PE ratio of 23.95, a PEG ratio of 1.90 and a beta of 1.27. 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 (NYSE:AXP) last released its quarterly earnings data on Friday, October 17th. The payment services company reported $4.14 EPS for the quarter, beating analysts’ consensus estimates of $3.98 by $0.16. The company had revenue of $17.14 billion during 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 revenue was up 11.0% compared to the same quarter last year. During the same period last year, the business earned $3.49 earnings per share. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. On average, equities analysts predict that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Friday, October 10th were given 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 was Friday, October 10th. American Express’s payout ratio is 22.01%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on AXP shares. DZ Bank raised 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 increased their price target on American Express from $330.00 to $365.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Wall Street Zen lowered American Express from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Weiss Ratings reiterated a “hold (c+)” rating on shares of American Express in a research report on Thursday. Finally, JPMorgan Chase & Co. lifted their target price on shares of American Express from $343.00 to $355.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 7th. Eight investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $332.65.

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.