Cantor Fitzgerald Investment Advisors L.P. Acquires New Position in American Express (NYSE:AXP)

29 Oct 2024, 09:22 by Teresa Graham · The Cerbat Gem

Cantor Fitzgerald Investment Advisors L.P. acquired a new stake in shares of American Express (NYSE:AXP) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,978 shares of the payment services company’s stock, valued at approximately $1,079,000.

Several other large investors have also bought and sold shares of the company. Alphinity Investment Management Pty Ltd purchased a new position in American Express in the 1st quarter worth approximately $433,709,000. International Assets Investment Management LLC increased its holdings in shares of American Express by 26,783.5% in the 3rd quarter. International Assets Investment Management LLC now owns 909,737 shares of the payment services company’s stock worth $2,467,210,000 after purchasing an additional 906,353 shares in the last quarter. Public Employees Retirement Association of Colorado raised its stake in shares of American Express by 924.2% in the second quarter. Public Employees Retirement Association of Colorado now owns 851,431 shares of the payment services company’s stock worth $197,149,000 after purchasing an additional 768,301 shares during the last quarter. Pathway Financial Advisers LLC lifted its stake in American Express by 59,816.0% during the 3rd quarter. Pathway Financial Advisers LLC now owns 682,443 shares of the payment services company’s stock valued at $185,079,000 after acquiring an additional 681,304 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in American Express by 8.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock valued at $1,923,399,000 after purchasing an additional 662,382 shares during the period. 84.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, 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 value of $21,049,740.62. Following the completion of the sale, the insider now owns 111,656 shares in the company, valued at approximately $30,176,150.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.12% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently commented on the company. JPMorgan Chase & Co. lowered American Express from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $268.00 to $286.00 in a report on Monday, October 7th. Jefferies Financial Group increased their price objective on shares of American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a research note on Tuesday, July 9th. Wells Fargo & Company boosted their target price on shares of American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Monness Crespi & Hardt increased their price target on shares of American Express from $265.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a research report on Monday, July 8th. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $253.09.

Get Our Latest Research Report on AXP

American Express Stock Up 1.6 %

NYSE AXP opened at $271.60 on Tuesday. The stock has a 50 day moving average price of $264.23 and a 200-day moving average price of $246.14. American Express has a one year low of $141.73 and a one year high of $286.36. The company has a market capitalization of $195.36 billion, a P/E ratio of 22.37, a P/E/G ratio of 1.50 and a beta of 1.21. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66.

American Express (NYSE:AXP – Get Free Report) last posted its earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.22. American Express had a net margin of 15.53% and a return on equity of 32.94%. The firm had revenue of $16.64 billion for the quarter, compared to the consensus estimate of $16.68 billion. During the same period in the previous year, the firm posted $3.30 EPS. The business’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, equities analysts predict that American Express will post 13.14 EPS for the current fiscal year.

American Express Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 4th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Friday, October 4th. American Express’s dividend payout ratio is currently 23.06%.

American Express Profile

(Free Report)

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.