American Express Company $AXP Holdings Trimmed by Parr Mcknight Wealth Management Group LLC

Parr Mcknight Wealth Management Group LLC lowered its stake in American Express Company (NYSE:AXP) by 38.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 13,818 shares of the payment services company’s stock after selling 8,470 shares during the quarter. Parr Mcknight Wealth Management Group LLC’s holdings in American Express were worth $4,202,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of American Express in the 2nd quarter worth about $14,208,662,000. State Street Corp increased its position in shares of American Express by 40.2% during the second quarter. State Street Corp now owns 40,967,262 shares of the payment services company’s stock valued at $13,857,176,000 after buying an additional 11,739,541 shares during the period. Bank of America Corp DE increased its position in shares of American Express by 8.4% during the second quarter. Bank of America Corp DE now owns 7,969,555 shares of the payment services company’s stock valued at $2,695,702,000 after buying an additional 614,981 shares during the period. Corient Private Wealth LP raised its stake in American Express by 492.2% in the second quarter. Corient Private Wealth LP now owns 4,771,292 shares of the payment services company’s stock worth $1,613,890,000 after buying an additional 3,965,582 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in American Express in the second quarter worth about $1,263,787,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express News Summary

Here are the key news stories impacting American Express this week:

• Positive Sentiment: American Express expanded its longstanding NBA and WNBA partnership globally, adding international fan experiences and cardmember benefits. The broader reach could strengthen customer engagement, though no financial impact was disclosed. Article: American Express, NBA and WNBA Expand Longstanding Partnership Globally
• Positive Sentiment: American Express completed its acquisition of TheFork, potentially bolstering its dining-related offerings and customer proposition. Article: American Express Completes Acquisition of TheFork
• Neutral Sentiment: UBS raised its AXP price target slightly, from $345 to $346, but maintained a neutral rating. UBS Group ratings
• Neutral Sentiment: Eligible cash-back cardholders can now deposit Reward Dollars into qualifying American Express bank accounts, adding redemption flexibility; the near-term financial effect is unclear. Article: Amex Adds a Reward Dollars Redemption Option
• Negative Sentiment: Two insiders reported substantial sales on November 2. Anna Marrs sold 44,910 shares, reducing her holdings by 68.65%; Laureen Seeger sold 69,860 shares, cutting her holdings by 88.59%. The transactions may weigh on sentiment, although insider sales alone do not establish a negative outlook. Anna Marrs SEC filing Laureen Seeger SEC filing

American Express Stock Down 0.8%

Shares of American Express stock opened at $325.21 on Wednesday. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.58. The company has a 50-day moving average of $316.78 and a 200 day moving average of $326.13. The firm has a market cap of $218.07 billion, a price-to-earnings ratio of 18.31, a PEG ratio of 1.39 and a beta of 1.09. American Express Company has a 1 year low of $290.97 and a 1 year high of $387.49.

American Express (NYSE:AXP) last posted its quarterly earnings data on Friday, October 23rd. The payment services company reported $4.68 EPS for the quarter, topping the consensus estimate of $4.50 by $0.18. The business had revenue of $20.06 billion for the quarter, compared to analyst estimates of $20.12 billion. American Express had a net margin of 15.80% and a return on equity of 34.19%. American Express’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.14 earnings per share. American Express has set its FY 2026 guidance at 17.600-17.900 EPS. As a group, sell-side analysts anticipate that American Express Company will post 17.88 earnings per share for the current fiscal year.

American Express Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 10th. Stockholders of record on Friday, October 9th will be given a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, October 9th. American Express’s payout ratio is currently 21.40%.

Wall Street Analyst Weigh In

AXP has been the subject of several research analyst reports. William Blair restated an “outperform” rating on shares of American Express in a report on Friday, October 23rd. Evercore set a $330.00 target price on American Express in a report on Tuesday, October 27th. Benchmark assumed coverage on American Express in a research report on Monday, July 13th. They issued a “buy” rating for the company. President Capital raised their target price on American Express from $359.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, August 19th. Finally, JPMorgan Chase & Co. lifted their price target on American Express from $360.00 to $365.00 and gave the company an “overweight” rating in a research report on Monday, October 26th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $365.22.

Insider Buying and Selling

In other American Express news, insider Anna Marrs sold 44,910 shares of American Express stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $327.20, for a total transaction of $14,694,552.00. Following the completion of the transaction, the insider owned 20,509 shares in the company, valued at approximately $6,710,544.80. The trade was a 68.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Laureen Seeger sold 69,860 shares of the business’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $328.17, for a total value of $22,925,956.20. Following the completion of the sale, the insider directly owned 9,002 shares in the company, valued at $2,954,186.34. This trade represents a 88.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.14% of the company’s stock.

American Express Profile

American Express Company is a global financial services company that provides payment, lending, travel and expense management products and services. Its offerings include consumer and small-business charge and credit cards, corporate payment programs, business financing solutions, deposit products and digital payment services.

The company operates an integrated payments network that connects card members, merchants and financial institutions. American Express also provides merchant acquisition and payment processing services, data and analytics, fraud prevention tools, and customer loyalty programs.