FDx Advisors Inc. Reduces Stock Position in American Express (NYSE:AXP)

12 Nov 2024, 13:16 by Doug Wharley · The Cerbat Gem

FDx Advisors Inc. trimmed its position in shares of American Express (NYSE:AXP – Free Report) by 14.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,108 shares of the payment services company’s stock after selling 194 shares during the quarter. FDx Advisors Inc.’s holdings in American Express were worth $300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Kennebec Savings Bank purchased a new stake in American Express during the third quarter valued at approximately $29,000. DHJJ Financial Advisors Ltd. increased its stake in shares of American Express by 42.2% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock worth $38,000 after purchasing an additional 49 shares in the last quarter. POM Investment Strategies LLC bought a new position in American Express in the 2nd quarter worth $42,000. Founders Capital Management purchased a new position in American Express during the second quarter valued at $46,000. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new stake in American Express during the third quarter valued at about $46,000. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Anre D. Williams sold 77,887 shares of American Express stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $270.26, for a total transaction of $21,049,740.62. Following the completion of the sale, the insider now owns 111,656 shares in the company, valued at $30,176,150.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of American Express stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total value of $3,552,818.78. Following the completion of the sale, the insider now directly owns 109,691 shares in the company, valued at $29,724,067.18. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Anre D. Williams sold 77,887 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $270.26, for a total transaction of $21,049,740.62. Following the transaction, the insider now directly owns 111,656 shares in the company, valued at $30,176,150.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Barclays boosted their price objective on American Express from $250.00 to $257.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Evercore ISI increased their price target on American Express from $275.00 to $290.00 and gave the stock an “in-line” rating in a research note on Monday, October 7th. Wells Fargo & Company boosted their price objective on American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. cut American Express from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $268.00 to $286.00 in a research report on Monday, October 7th. Finally, Morgan Stanley boosted their price target on American Express from $248.00 to $252.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Four research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, American Express presently has an average rating of “Hold” and a consensus price target of $253.09.

View Our Latest Stock Report on AXP

American Express Price Performance

NYSE:AXP opened at $293.05 on Tuesday. The firm has a market capitalization of $206.44 billion, a price-to-earnings ratio of 21.56, a PEG ratio of 1.56 and a beta of 1.21. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.63 and a quick ratio of 1.63. The business has a 50 day simple moving average of $268.64 and a 200-day simple moving average of $249.46. American Express has a 1 year low of $153.50 and a 1 year high of $296.83.

American Express (NYSE:AXP – Get Free Report) last announced its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.22. The business had revenue of $16.64 billion during the quarter, compared to the consensus estimate of $16.68 billion. American Express had a net margin of 15.32% and a return on equity of 32.46%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the firm earned $3.30 earnings per share. Equities analysts forecast that American Express will post 13.4 EPS for the current year.

American Express Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, October 4th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a yield of 0.96%. American Express’s payout ratio is 20.60%.

American Express Company Profile

(Free Report)