Tripletail Wealth Management LLC Acquires Shares of 1,955 American Express Company $AXP

Tripletail Wealth Management LLC acquired a new stake in shares of American Express Company (NYSE:AXP) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,955 shares of the payment services company’s stock, valued at approximately $579,000. American Express makes up 0.9% of Tripletail Wealth Management LLC’s investment portfolio, making the stock its 28th largest holding.

Other hedge funds also recently made changes to their positions in the company. Capital Asset Advisory Services LLC grew its holdings in American Express by 2.8% during the 2nd quarter. Capital Asset Advisory Services LLC now owns 1,191 shares of the payment services company’s stock valued at $384,000 after buying an additional 32 shares in the last quarter. DLK Investment Management LLC boosted its position in shares of American Express by 3.8% during the 2nd quarter. DLK Investment Management LLC now owns 869 shares of the payment services company’s stock valued at $277,000 after acquiring an additional 32 shares during the last quarter. Bahl & Gaynor Inc. grew its holdings in shares of American Express by 1.0% in the second quarter. Bahl & Gaynor Inc. now owns 3,291 shares of the payment services company’s stock valued at $1,050,000 after purchasing an additional 33 shares in the last quarter. PFG Advisors grew its holdings in shares of American Express by 0.7% in the second quarter. PFG Advisors now owns 5,059 shares of the payment services company’s stock valued at $1,614,000 after purchasing an additional 34 shares in the last quarter. Finally, Financial Engines Advisors L.L.C. increased its position in American Express by 4.7% in the first quarter. Financial Engines Advisors L.L.C. now owns 772 shares of the payment services company’s stock worth $208,000 after purchasing an additional 35 shares during the last quarter. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Truist Financial increased their price objective on shares of American Express from $375.00 to $395.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Wall Street Zen downgraded shares of American Express from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. UBS Group lifted their price target on American Express from $330.00 to $340.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Weiss Ratings restated a “buy (b-)” rating on shares of American Express in a research report on Monday, December 1st. Finally, Keefe, Bruyette & Woods raised their price objective on American Express from $371.00 to $394.00 and gave the company an “outperform” rating in a research note on Wednesday, October 1st. Nine investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $332.65.

Insiders Place Their Bets

In other news, insider Douglas Tabish sold 2,515 shares of American Express stock in a transaction on Thursday, October 23rd. The stock was sold at an average price of $355.61, for a total transaction of $894,359.15. Following the completion of the sale, the insider directly owned 2,515 shares in the company, valued at approximately $894,359.15. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Denise Pickett sold 5,000 shares of the company’s stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $350.73, for a total transaction of $1,753,650.00. Following the completion of the transaction, the insider owned 7,726 shares in the company, valued at approximately $2,709,739.98. The trade was a 39.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 57,515 shares of company stock worth $20,658,509 over the last quarter. Company insiders own 0.20% of the company’s stock.

American Express Stock Performance

American Express stock opened at $361.96 on Tuesday. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.61 and a quick ratio of 1.59. The firm has a market capitalization of $249.34 billion, a P/E ratio of 24.29, a price-to-earnings-growth ratio of 1.67 and a beta of 1.14. American Express Company has a 1-year low of $220.43 and a 1-year high of $377.23. The company’s 50-day moving average is $351.09 and its 200 day moving average is $326.13.

American Express (NYSE:AXP) last announced its earnings results on Friday, October 17th. The payment services company reported $4.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.98 by $0.16. American Express had a return on equity of 33.41% and a net margin of 14.97%.The business had revenue of $17.14 billion during the quarter, compared to analyst estimates of $18.03 billion. During the same quarter in the previous year, the business earned $3.49 earnings per share. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. Research analysts forecast that American Express Company will post 15.33 EPS for the current 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 given a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Friday, October 10th. American Express’s dividend payout ratio is 22.01%.

American Express Company Profile

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.