abrdn plc Increases Stock Position in American Express (NYSE:AXP)

abrdn plc increased its stake in American Express (NYSE:AXP - Free Report) by 2.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,270,814 shares of the payment services company's stock after acquiring an additional 27,859 shares during the quarter. American Express makes up about 0.6% of abrdn plc's portfolio, making the stock its 24th biggest holding. abrdn plc owned 0.18% of American Express worth $343,437,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Cantor Fitzgerald Investment Advisors L.P. acquired a new stake in shares of American Express in the third quarter worth approximately $1,079,000. Smith Group Asset Management LLC lifted its holdings in American Express by 1.4% in the 3rd quarter. Smith Group Asset Management LLC now owns 120,186 shares of the payment services company's stock valued at $32,594,000 after purchasing an additional 1,633 shares in the last quarter. Strategic Wealth Investment Group LLC boosted its stake in American Express by 7.3% during the 3rd quarter. Strategic Wealth Investment Group LLC now owns 40,933 shares of the payment services company's stock worth $10,995,000 after purchasing an additional 2,778 shares during the last quarter. Old Port Advisors grew its holdings in shares of American Express by 7.9% during the third quarter. Old Port Advisors now owns 1,122 shares of the payment services company's stock worth $304,000 after buying an additional 82 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in shares of American Express by 3.6% in the third quarter. Nisa Investment Advisors LLC now owns 274,192 shares of the payment services company's stock worth $74,361,000 after buying an additional 9,471 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AXP. Hsbc Global Res cut shares of American Express from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, October 8th. Wells Fargo & Company boosted their target price on shares of American Express from $285.00 to $300.00 and gave the company an "overweight" rating in a report on Monday, September 30th. BTIG Research downgraded shares of American Express from a "neutral" rating to a "sell" rating and set a $230.00 price target for the company. in a report on Tuesday, October 8th. HSBC cut American Express from a "buy" rating to a "hold" rating and upped their price objective for the company from $265.00 to $270.00 in a report on Tuesday, October 8th. Finally, TD Cowen lifted their target price on American Express from $260.00 to $268.00 and gave the company a "hold" rating in a research report on Monday, October 21st. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $253.09.

Insider Transactions at American Express

In related news, insider Anre D. Williams sold 77,887 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $270.26, for a total value of $21,049,740.62. Following the transaction, the insider now owns 111,656 shares of the company's stock, valued at $30,176,150.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.12% of the company's stock.

American Express Stock Down 0.4 %

NYSE:AXP traded down $1.04 during midday trading on Tuesday, reaching $270.43. The company had a trading volume of 1,742,851 shares, compared to its average volume of 2,924,519. American Express has a 12-month low of $141.73 and a 12-month high of $286.36. The firm has a market capitalization of $194.52 billion, a price-to-earnings ratio of 22.37, a PEG ratio of 1.50 and a beta of 1.21. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74. The stock's fifty day simple moving average is $264.23 and its 200-day simple moving average is $246.14.

American Express (NYSE:AXP - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $16.64 billion during 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%. The business's revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the company posted $3.30 earnings per share. On average, sell-side analysts anticipate that American Express will post 13.14 earnings per share for the current fiscal year.

American Express Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 4th will be issued a $0.70 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.04%. American Express's payout ratio is 23.06%.

American Express 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.