Round Rock Advisors LLC Cuts Stake in American Express (NYSE:AXP)

10 Nov 2024, 11:22 by Teresa Graham · The Cerbat Gem

Round Rock Advisors LLC lessened its stake in shares of American Express (NYSE:AXP) by 4.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,680 shares of the payment services company’s stock after selling 78 shares during the period. Round Rock Advisors LLC’s holdings in American Express were worth $456,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in AXP. DHJJ Financial Advisors Ltd. lifted its position in shares of American Express by 42.2% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock valued at $38,000 after buying an additional 49 shares during the last quarter. POM Investment Strategies LLC purchased a new stake in American Express during the second quarter valued at about $42,000. Founders Capital Management bought a new position in American Express during the second quarter worth about $46,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in American Express during the third quarter worth about $46,000. Finally, Capital Performance Advisors LLP bought a new position in American Express in the 3rd quarter worth approximately $48,000. Institutional investors own 84.33% of the company’s stock.

American Express Stock Up 0.3 %

Shares of NYSE AXP opened at $287.60 on Friday. The stock has a market capitalization of $202.60 billion, a P/E ratio of 21.16, a PEG ratio of 1.61 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. American Express has a one year low of $152.05 and a one year high of $296.83. The firm’s 50 day simple moving average is $268.64 and its two-hundred day simple moving average is $249.32.

American Express (NYSE:AXP – Get Free Report) last issued its earnings results 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. The company had revenue of $16.64 billion for the quarter, compared to analysts’ expectations of $16.68 billion. American Express had a net margin of 15.32% and a return on equity of 32.46%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the company earned $3.30 EPS. As a group, analysts expect that American Express will post 13.4 EPS for the current fiscal year.

American Express Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, October 4th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend was Friday, October 4th. American Express’s dividend payout ratio (DPR) is presently 20.60%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. BTIG Research cut shares of American Express from a “neutral” rating to a “sell” rating and set a $230.00 target price on the stock. in a report on Tuesday, October 8th. Compass Point started coverage on American Express in a research note on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price objective on the stock. The Goldman Sachs Group raised their target price on American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. HSBC cut American Express from a “buy” rating to a “hold” rating and upped their price target for the company from $265.00 to $270.00 in a research report on Tuesday, October 8th. Finally, Evercore ISI raised their price objective on shares of American Express from $275.00 to $290.00 and gave the company an “in-line” rating in a research report on Monday, October 7th. Four research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $253.09.

Get Our Latest Report on American Express

Insider Activity at American Express

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

American Express Company Profile

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