Kentucky Retirement Systems Sells 2,328 Shares of American Express Company $AXP

Kentucky Retirement Systems cut its holdings in American Express Company (NYSE:AXP) by 6.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,516 shares of the payment services company’s stock after selling 2,328 shares during the period. Kentucky Retirement Systems’ holdings in American Express were worth $11,329,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in AXP. Norges Bank acquired a new stake in American Express in the 2nd quarter valued at $1,897,335,000. Wellington Management Group LLP boosted its stake in shares of American Express by 13.7% during the 1st 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 last quarter. Laurel Wealth Advisors LLC grew its holdings in shares of American Express by 31,595.9% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,742,009 shares of the payment services company’s stock valued at $555,666,000 after acquiring an additional 1,736,513 shares in the last quarter. Geode Capital Management LLC increased its position in shares of American Express by 11.1% in the second quarter. Geode Capital Management LLC now owns 13,487,316 shares of the payment services company’s stock valued at $4,282,984,000 after acquiring an additional 1,349,746 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in American Express by 26.1% during the second quarter. Ameriprise Financial Inc. now owns 3,125,133 shares of the payment services company’s stock worth $988,676,000 after acquiring an additional 646,039 shares in the last quarter. Institutional investors own 84.33% of the company’s stock.

Insider Transactions at American Express

In related news, CMO Elizabeth Rutledge sold 50,000 shares of the firm’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $360.21, for a total value of $18,010,500.00. Following the transaction, the chief marketing officer owned 85,577 shares in the company, valued at approximately $30,825,691.17. This trade represents a 36.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Douglas Tabish sold 2,515 shares of the business’s stock in a transaction dated Thursday, October 23rd. The shares were sold at an average price of $355.61, for a total value of $894,359.15. Following the completion of the transaction, the insider directly owned 2,515 shares of the company’s stock, valued at approximately $894,359.15. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 57,515 shares of company stock valued at $20,658,509. 0.20% of the stock is owned by corporate insiders.

American Express Stock Performance

NYSE AXP opened at $382.14 on Friday. The firm has a 50-day moving average price of $354.78 and a two-hundred day moving average price of $328.34. American Express Company has a 12-month low of $220.43 and a 12-month high of $387.49. The company has a market capitalization of $263.23 billion, a P/E ratio of 25.65, a P/E/G ratio of 1.73 and a beta of 1.14. 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 results on Friday, October 17th. The payment services company reported $4.14 earnings per share 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 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 firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the business earned $3.49 earnings per share. 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 business also recently announced 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 dividend payout ratio is presently 22.01%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AXP. Weiss Ratings restated a “buy (b-)” rating on shares of American Express in a research note on Monday, December 8th. Compass Point restated a “neutral” rating and set a $324.00 target price on shares of American Express in a report on Monday, October 20th. DZ Bank upgraded shares of American Express from a “sell” rating to a “hold” rating and set a $340.00 price target for the company in a research note on Tuesday, October 21st. UBS Group increased their price target on American Express from $330.00 to $340.00 and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Finally, Morgan Stanley upped their target price on American Express from $311.00 to $362.00 and gave the company an “equal weight” rating in a research report on Monday, September 29th. Nine analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, American Express has a consensus rating of “Hold” and an average price target of $332.65.

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.