Public Sector Pension Investment Board Has $104.14 Million Stock Position in American Express (NYSE:AXP)

28 Nov 2024, 11:28 by Scott Moore · The Cerbat Gem

Public Sector Pension Investment Board increased its position in shares of American Express (NYSE:AXP) by 50.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 384,003 shares of the payment services company’s stock after purchasing an additional 128,600 shares during the quarter. Public Sector Pension Investment Board’s holdings in American Express were worth $104,142,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC acquired a new position in American Express during the 3rd quarter valued at about $27,000. Kennebec Savings Bank acquired a new position in American Express in the third quarter valued at approximately $29,000. DHJJ Financial Advisors Ltd. boosted its stake in American Express by 42.2% in the second quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock valued at $38,000 after acquiring an additional 49 shares during the last quarter. POM Investment Strategies LLC bought a new position in American Express in the second quarter valued at approximately $42,000. Finally, Founders Capital Management acquired a new position in shares of American Express in the 2nd quarter valued at $46,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. TD Cowen raised their price target on American Express from $260.00 to $268.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Bank of America raised their target price on American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. JPMorgan Chase & Co. downgraded shares of American Express from an “overweight” rating to a “neutral” rating and increased their price target for the company from $268.00 to $286.00 in a research report on Monday, October 7th. Morgan Stanley lifted their price objective on shares of American Express from $248.00 to $252.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Finally, Wells Fargo & Company increased their target price on shares of American Express from $285.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $253.09.

View Our Latest Stock Report on American Express

Insider Activity

In other news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following the sale, the insider now owns 109,691 shares in the company, valued at $29,724,067.18. This represents a 10.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Anre D. Williams sold 77,887 shares of the stock in a transaction that occurred on 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 directly owns 111,656 shares of the company’s stock, valued at approximately $30,176,150.56. The trade was a 41.09 % decrease in their position. The disclosure for this sale can be found here. 0.12% of the stock is owned by corporate insiders.

American Express Trading Down 0.4 %

NYSE AXP opened at $304.28 on Thursday. American Express has a 52 week low of $163.61 and a 52 week high of $307.82. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.63 and a current ratio of 1.63. The stock’s 50 day moving average price is $278.61 and its two-hundred day moving average price is $254.61. The stock has a market capitalization of $214.35 billion, a price-to-earnings ratio of 22.39, a PEG ratio of 1.75 and a beta of 1.21.

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

American Express Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, October 4th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.92%. American Express’s dividend payout ratio is 20.60%.

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.