Vest Financial LLC Purchases 6,240 Shares of American Express (NYSE:AXP)

28 Oct 2024

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Vest Financial LLC Purchases 6240 Shares of American Express NYSEAXP

Vest Financial LLC lifted its position in shares of American Express (NYSE:AXP) by 6.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 102,447 shares of the payment

Vest Financial LLC increased its stake in American Express (NYSE:AXP - Free Report) by 6.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 102,447 shares of the payment services company's stock after acquiring an additional 6,240 shares during the quarter. Vest Financial LLC's holdings in American Express were worth $27,784,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Alphinity Investment Management Pty Ltd bought a new stake in American Express in the 1st quarter valued at about $433,709,000. Public Employees Retirement Association of Colorado increased its holdings in shares of American Express by 924.2% during the second quarter. Public Employees Retirement Association of Colorado now owns 851,431 shares of the payment services company's stock valued at $197,149,000 after acquiring an additional 768,301 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of American Express by 8.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company's stock worth $1,923,399,000 after purchasing an additional 662,382 shares during the period. M&G Plc bought a new position in shares of American Express in the 1st quarter worth $114,990,000. Finally, Canada Pension Plan Investment Board grew its position in American Express by 71.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,164,098 shares of the payment services company's stock valued at $269,547,000 after purchasing an additional 486,755 shares during the period. Institutional investors and hedge funds own 84.33% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on AXP. Morgan Stanley upped their price objective on shares of American Express from $226.00 to $248.00 and gave the stock an "equal weight" rating in a report on Monday, October 14th. Keefe, Bruyette & Woods raised their price target on shares of American Express from $265.00 to $280.00 and gave the company an "outperform" rating in a research report on Monday, July 8th. Jefferies Financial Group lifted their price target on American Express from $225.00 to $235.00 and gave the company a "hold" rating in a research note on Tuesday, July 9th. Evercore ISI increased their price objective on American Express from $275.00 to $290.00 and gave the stock an "in-line" rating in a research note on Monday, October 7th. Finally, Barclays lifted their target price on American Express from $223.00 to $250.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 8th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, American Express has an average rating of "Hold" and an average target price of $242.33.

Get Our Latest Report on AXP

American Express Stock Performance

AXP traded down $8.99 during trading hours on Friday, hitting $276.79. The stock had a trading volume of 7,884,358 shares, compared to its average volume of 2,930,270. American Express has a 1 year low of $140.91 and a 1 year high of $286.36. The company's fifty day simple moving average is $261.27 and its 200 day simple moving average is $244.02. The stock has a market cap of $199.10 billion, a PE ratio of 22.80, a price-to-earnings-growth ratio of 1.50 and a beta of 1.21. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74.

American Express (NYSE:AXP - Get Free Report) last posted its earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.22. The firm 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 15.53% and a return on equity of 32.94%. The company's revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the company earned $3.30 earnings per share. Equities analysts anticipate that American Express will post 13.14 earnings per share for the current year.

American Express Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.80 annualized dividend and a dividend yield of 1.01%. American Express's dividend payout ratio is currently 23.06%.

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.