Somerville Kurt F Has $5.95 Million Stock Holdings in American Express Company $AXP

Somerville Kurt F boosted its stake in shares of American Express Company (NYSE:AXP) by 46.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 17,914 shares of the payment services company’s stock after buying an additional 5,684 shares during the period. Somerville Kurt F’s holdings in American Express were worth $5,950,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. ZEGA Investments LLC acquired a new stake in American Express in the third quarter valued at approximately $1,080,000. Sumitomo Mitsui Trust Group Inc. raised its position in American Express by 0.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,598,743 shares of the payment services company’s stock valued at $531,038,000 after purchasing an additional 4,080 shares during the last quarter. Elite Wealth Management Inc. acquired a new stake in shares of American Express during the third quarter valued at about $2,763,000. Reliant Investment Management LLC grew its holdings in shares of American Express by 1.9% during the second quarter. Reliant Investment Management LLC now owns 26,189 shares of the payment services company’s stock worth $8,354,000 after purchasing an additional 480 shares during the last quarter. Finally, New York Life Investment Management LLC increased its stake in shares of American Express by 0.9% in the second quarter. New York Life Investment Management LLC now owns 82,883 shares of the payment services company’s stock valued at $26,438,000 after buying an additional 764 shares during the period. 84.33% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Ravikumar Radhakrishnan sold 15,000 shares of the stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $356.58, for a total transaction of $5,348,700.00. Following the completion of the transaction, the insider owned 8,945 shares in the company, valued at approximately $3,189,608.10. This represents a 62.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Denise Pickett sold 23,385 shares of the firm’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $356.91, for a total transaction of $8,346,340.35. Following the sale, the insider owned 7,754 shares of the company’s stock, valued at $2,767,480.14. This trade represents a 75.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 73,944 shares of company stock valued at $26,114,366 over the last quarter. 0.20% of the stock is owned by insiders.

American Express Stock Up 0.6%

AXP traded up $2.16 during midday trading on Friday, hitting $344.81. The company had a trading volume of 170,181 shares, compared to its average volume of 3,052,937. The stock’s 50 day moving average price is $364.73 and its 200 day moving average price is $347.76. American Express Company has a 52 week low of $220.43 and a 52 week high of $387.49. The company has a market capitalization of $236.75 billion, a price-to-earnings ratio of 22.20, a PEG ratio of 1.46 and a beta of 1.14. The company has a quick ratio of 1.58, a current ratio of 1.59 and a debt-to-equity ratio of 1.68.

American Express (NYSE:AXP) last issued its earnings results on Friday, January 30th. The payment services company reported $3.53 EPS for the quarter, missing analysts’ consensus estimates of $3.54 by ($0.01). American Express had a net margin of 15.00% and a return on equity of 33.49%. The firm had revenue of ($17,139.00) million during the quarter, compared to the consensus estimate of $18.91 billion. During the same period in the previous year, the firm earned $3.04 earnings per share. The business’s quarterly revenue was up 10.5% on a year-over-year basis. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. On average, research analysts anticipate that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 10th. Shareholders of record on Friday, January 2nd were paid a dividend of $0.82 per share. The ex-dividend date was Friday, January 2nd. This represents a $3.28 annualized dividend and a yield of 1.0%. American Express’s dividend payout ratio (DPR) is 21.31%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of American Express from $400.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 17th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $420.00 price target on shares of American Express in a research note on Tuesday, January 6th. Evercore set a $393.00 price objective on shares of American Express in a research note on Tuesday, February 10th. Weiss Ratings raised American Express from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, December 29th. Finally, Truist Financial dropped their price target on shares of American Express from $420.00 to $400.00 and set a “buy” rating on the stock in a research report on Monday, February 2nd. Nine investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, American Express presently has an average rating of “Hold” and a consensus price target of $352.73.

American Express Profile

American Express is a global financial services company primarily known for its payment card products, travel services and merchant network. Founded in 1850 as an express mail business, the company evolved through the 20th century into a payments and travel-focused organization. Its core activities include issuing consumer and commercial charge and credit cards, operating a global card acceptance and processing network, and providing travel-related services and customer loyalty programs.

American Express issues a range of products for individuals, small businesses and large corporations, including personal cards, business and corporate cards, and co‑brand partnerships with airlines, hotels and retailers.