Boston Trust Walden Corp Decreases Holdings in American Express (NYSE:AXP)

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

Boston Trust Walden Corp decreased its holdings in American Express (NYSE:AXP) by 1.0% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 220,639 shares of the payment services company’s stock after selling 2,135 shares during the period. Boston Trust Walden Corp’s holdings in American Express were worth $59,837,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. DHJJ Financial Advisors Ltd. grew its stake in shares of American Express by 42.2% during the second 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. Mowery & Schoenfeld Wealth Management LLC bought a new position in American Express during the 3rd quarter worth approximately $46,000. BNP Paribas purchased a new position in American Express in the 1st quarter worth approximately $40,000. POM Investment Strategies LLC purchased a new position in American Express in the 2nd quarter worth approximately $42,000. Finally, Founders Capital Management bought a new stake in American Express in the second quarter valued at approximately $46,000. Institutional investors own 84.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on AXP shares. Wells Fargo & Company lifted their target price on shares of American Express from $285.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Morgan Stanley boosted their price objective on shares of American Express from $248.00 to $252.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. BTIG Research lowered shares of American Express from a “neutral” rating to a “sell” rating and set a $230.00 target price for the company. in a report on Tuesday, October 8th. Royal Bank of Canada boosted their price target on American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Finally, Compass Point assumed coverage on American Express in a report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price objective for the company. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $253.09.

Check Out Our Latest Report on AXP

American Express Stock Performance

Shares of AXP stock traded down $2.63 on Friday, reaching $267.35. The stock had a trading volume of 2,993,298 shares, compared to its average volume of 2,933,059. 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 has a 1 year low of $141.02 and a 1 year high of $286.36. The stock has a market cap of $192.31 billion, a P/E ratio of 22.01, a price-to-earnings-growth ratio of 1.50 and a beta of 1.21. The company has a 50 day simple moving average of $263.88 and a 200 day simple moving average of $245.39.

American Express (NYSE:AXP – Get Free Report) last released its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, beating the consensus estimate 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 net margin of 15.53% and a return on equity of 32.94%. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.30 EPS. Equities research analysts expect that American Express will post 13.14 EPS for the current year.

American Express Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 4th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s dividend payout ratio is presently 23.06%.

Insider Activity

In related news, insider Anre D. Williams sold 77,887 shares of American Express 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 transaction, the insider now directly owns 111,656 shares in the company, valued at approximately $30,176,150.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.12% of the company’s stock.

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.