State Street Corp Has $9.39 Billion Stock Position in American Express Company $AXP

State Street Corp lessened its holdings in shares of American Express Company (NYSE:AXP) by 1.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,442,706 shares of the payment services company’s stock after selling 328,271 shares during the period. State Street Corp owned 4.23% of American Express worth $9,391,634,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of AXP. Norges Bank bought a new position in American Express during the 2nd quarter worth $1,897,335,000. Wellington Management Group LLP increased its stake in shares of American Express by 13.7% in the first quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company’s stock valued at $4,849,777,000 after buying an additional 2,168,445 shares during the period. Laurel Wealth Advisors LLC raised its position in shares of American Express by 31,595.9% during the second quarter. Laurel Wealth Advisors LLC now owns 1,742,009 shares of the payment services company’s stock worth $555,666,000 after acquiring an additional 1,736,513 shares during the last quarter. Geode Capital Management LLC raised its position in shares of American Express by 11.1% during the second quarter. Geode Capital Management LLC now owns 13,487,316 shares of the payment services company’s stock worth $4,282,984,000 after acquiring an additional 1,349,746 shares during the last quarter. Finally, Provident Trust Co. lifted its stake in shares of American Express by 136.6% in the second quarter. Provident Trust Co. now owns 1,108,971 shares of the payment services company’s stock worth $353,740,000 after acquiring an additional 640,214 shares during the period. Institutional investors own 84.33% of the company’s stock.

American Express Trading Down 2.3%

Shares of American Express stock opened at $361.96 on Tuesday. The stock has a market capitalization of $249.34 billion, a PE ratio of 24.29, a price-to-earnings-growth ratio of 1.67 and a beta of 1.14. American Express Company has a 52 week low of $220.43 and a 52 week high of $377.23. The stock has a 50 day moving average price of $351.09 and a two-hundred day moving average price of $326.13. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.59 and a current ratio of 1.61.

American Express (NYSE:AXP) last issued its earnings results on Friday, October 17th. The payment services company reported $4.14 earnings per share for the quarter, topping analysts’ consensus estimates of $3.98 by $0.16. American Express had a return on equity of 33.41% and a net margin of 14.97%.The company had revenue of $17.14 billion for the quarter, compared to analyst estimates of $18.03 billion. During the same period in the prior year, the firm earned $3.49 earnings per share. American Express’s revenue for the quarter was up 11.0% on a year-over-year basis. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. As a group, equities analysts anticipate that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 10th. Shareholders of record on Friday, October 10th were paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Friday, October 10th. American Express’s dividend payout ratio is 22.01%.

Insider Activity

In related news, insider Denise Pickett sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, October 22nd. The shares were sold at an average price of $350.73, for a total transaction of $1,753,650.00. Following the completion of the sale, the insider owned 7,726 shares in the company, valued at approximately $2,709,739.98. This trade represents a 39.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CMO Elizabeth Rutledge sold 50,000 shares of American Express stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $360.21, for a total transaction of $18,010,500.00. Following the completion of the sale, the chief marketing officer directly owned 85,577 shares in the company, valued at approximately $30,825,691.17. This represents a 36.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 57,515 shares of company stock valued at $20,658,509 in the last ninety days. 0.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on AXP shares. Wall Street Zen lowered shares of American Express from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Keefe, Bruyette & Woods lifted their target price on shares of American Express from $371.00 to $394.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. Wells Fargo & Company boosted their target price on shares of American Express from $375.00 to $400.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Wolfe Research started coverage on American Express in a report on Monday. They set a “peer perform” rating for the company. Finally, DZ Bank raised American Express from a “sell” rating to a “hold” rating and set a $340.00 price objective on the stock in a research note on Tuesday, October 21st. Nine research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $332.65.

About American Express

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.