NorthCrest Asset Manangement LLC Raises Stock Holdings in American Express (NYSE:AXP)

26 Oct 2024, 17:50 by Kim Johansen · The Markets Daily

NorthCrest Asset Manangement LLC grew its stake in shares of American Express (NYSE:AXP – Free Report) by 2.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,179 shares of the payment services company’s stock after buying an additional 2,147 shares during the period. NorthCrest Asset Manangement LLC’s holdings in American Express were worth $22,829,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Sovereign Financial Group Inc. lifted its holdings in American Express by 2.7% during the third quarter. Sovereign Financial Group Inc. now owns 1,467 shares of the payment services company’s stock valued at $398,000 after purchasing an additional 38 shares in the last quarter. Legacy Financial Strategies LLC lifted its stake in shares of American Express by 2.5% during the 3rd quarter. Legacy Financial Strategies LLC now owns 1,632 shares of the payment services company’s stock valued at $443,000 after buying an additional 40 shares in the last quarter. Sawgrass Asset Management LLC boosted its holdings in American Express by 0.4% in the 2nd quarter. Sawgrass Asset Management LLC now owns 10,384 shares of the payment services company’s stock worth $2,404,000 after buying an additional 41 shares during the period. Godsey & Gibb Inc. increased its stake in American Express by 3.5% in the 3rd quarter. Godsey & Gibb Inc. now owns 1,227 shares of the payment services company’s stock worth $333,000 after buying an additional 41 shares in the last quarter. Finally, Davis Investment Partners LLC raised its holdings in American Express by 0.5% during the third quarter. Davis Investment Partners LLC now owns 8,011 shares of the payment services company’s stock valued at $2,170,000 after acquiring an additional 42 shares during the period. 84.33% of the stock is currently owned by institutional investors.

Insider Transactions at American Express

In related news, insider Anre D. Williams sold 77,887 shares of the 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 owns 111,656 shares of the company’s stock, valued at $30,176,150.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AXP. Barclays increased their target price on American Express from $250.00 to $257.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Royal Bank of Canada increased their price objective on shares of American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Morgan Stanley boosted their target price on shares of American Express from $248.00 to $252.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. BTIG Research cut shares of American Express from a “neutral” rating to a “sell” rating and set a $230.00 target price for the company. in a research note on Tuesday, October 8th. Finally, Jefferies Financial Group boosted their price target 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. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $253.09.

Read Our Latest Stock Report on American Express

American Express Trading Down 1.0 %

NYSE AXP traded down $2.63 during trading on Friday, hitting $267.35. The stock had a trading volume of 2,993,298 shares, compared to its average volume of 2,933,059. American Express has a one year low of $141.02 and a one year high of $286.36. The stock has a 50 day simple moving average of $263.88 and a 200 day simple moving average of $245.39. The stock has a market capitalization of $192.31 billion, a price-to-earnings ratio of 22.01, 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 issued its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $0.22. The firm had revenue of $16.64 billion during the quarter, compared to analyst estimates of $16.68 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. American Express’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the company earned $3.30 EPS. Sell-side analysts predict that American Express will post 13.14 earnings per share for the current year.

American Express Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be given a $0.70 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.80 annualized dividend and a yield of 1.05%. American Express’s dividend payout ratio (DPR) is 23.06%.

American Express Company Profile

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