American Express (NYSE:AXP) Shares Sold by Capital Investment Advisors LLC

28 Oct 2024

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American Express NYSEAXP Shares Sold by Capital Investment Advisors LLC

Capital Investment Advisors LLC lessened its stake in shares of American Express (NYSE:AXP) by 3.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,641

Capital Investment Advisors LLC trimmed its position in shares of American Express (NYSE:AXP - Free Report) by 3.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 106,641 shares of the payment services company's stock after selling 4,085 shares during the period. Capital Investment Advisors LLC's holdings in American Express were worth $28,921,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its holdings 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 last quarter. TD Asset Management Inc grew its stake in American Express by 8.2% during the 1st quarter. TD Asset Management Inc now owns 2,595,370 shares of the payment services company's stock worth $590,940,000 after buying an additional 195,876 shares during the last quarter. Boston Partners increased its position in American Express by 22.2% during the first quarter. Boston Partners now owns 2,129,175 shares of the payment services company's stock worth $485,525,000 after buying an additional 387,166 shares during the period. Alphinity Investment Management Pty Ltd acquired a new position in American Express during the first quarter worth approximately $433,709,000. Finally, Nordea Investment Management AB increased its position in American Express by 14.2% during the first quarter. Nordea Investment Management AB now owns 1,798,742 shares of the payment services company's stock worth $408,494,000 after buying an additional 224,079 shares during the period. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

American Express Price Performance

Shares of American Express stock traded down $8.99 during trading on Friday, reaching $276.79. The company's stock had a trading volume of 7,884,358 shares, compared to its average volume of 2,930,270. The business has a 50 day moving average price of $261.27 and a 200-day moving average price of $243.90. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74. The company has a market capitalization of $199.10 billion, a P/E ratio of 22.80, a price-to-earnings-growth ratio of 1.50 and a beta of 1.21. American Express has a 12-month low of $140.91 and a 12-month high of $286.36.

American Express (NYSE:AXP - Get Free Report) last posted 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 the consensus estimate 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 in the previous year, the business earned $3.30 earnings per share. As a group, sell-side analysts anticipate that American Express will post 13.14 EPS for the current year.

American Express Announces Dividend

The company 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 dividend on an annualized basis and a yield of 1.01%. American Express's payout ratio is 23.06%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on AXP shares. JPMorgan Chase & Co. lowered American Express from an "overweight" rating to a "neutral" rating and lifted their price target for the stock from $268.00 to $286.00 in a research report on Monday, October 7th. Compass Point started coverage on American Express in a research report on Tuesday, July 16th. They set a "neutral" rating and a $260.00 price target on the stock. Bank of America lifted their price target on American Express from $263.00 to $265.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 17th. Wells Fargo & Company lifted their price target on American Express from $285.00 to $300.00 and gave the stock an "overweight" rating in a research report on Monday, September 30th. Finally, Monness Crespi & Hardt lifted their price target on American Express from $265.00 to $300.00 and gave the stock a "buy" rating in a research report on Monday, October 14th. Four equities research 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's stock. According to data from MarketBeat.com, American Express currently has a consensus rating of "Hold" and a consensus target price of $242.33.

Read Our Latest Stock Report on AXP

About American Express

(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.