UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Position in American Express (NYSE:AXP)

28 Nov 2024, 15:48 by Danessa Lincoln · The Markets Daily

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in American Express (NYSE:AXP) by 5.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,606,986 shares of the payment services company’s stock after acquiring an additional 239,173 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in American Express were worth $1,249,415,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Prospera Private Wealth LLC acquired a new position in American Express in the third quarter valued at approximately $27,000. Kennebec Savings Bank acquired a new position in shares of American Express in the 3rd quarter valued at $29,000. DHJJ Financial Advisors Ltd. grew its position in shares of American Express by 42.2% in 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 acquired a new stake in American Express during the 2nd quarter worth $42,000. Finally, Founders Capital Management purchased a new stake in American Express in the second quarter valued at $46,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Trading Down 0.4 %

Shares of AXP stock opened at $304.28 on Thursday. The business’s fifty day moving average price is $278.61 and its 200 day moving average price is $254.61. The firm has a market capitalization of $214.35 billion, a PE ratio of 22.39, a P/E/G ratio of 1.75 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 1-year low of $163.61 and a 1-year high of $307.82.

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

American Express Announces Dividend

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

Insider Transactions at American Express

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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $270.98, for a total value of $3,552,818.78. Following the completion of the sale, the insider now directly owns 109,691 shares in the company, valued at $29,724,067.18. This trade represents a 10.68 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Monness Crespi & Hardt lifted their target price on American Express from $265.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. BTIG Research cut American Express from a “neutral” rating to a “sell” rating and set a $230.00 price objective for the company. in a research note on Tuesday, October 8th. Barclays raised their target price on shares of American Express from $250.00 to $257.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Bank of America increased their price target on shares of American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Finally, StockNews.com lowered shares of American Express from a “buy” rating to a “hold” rating in a research note on Monday. Four equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $253.09.

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