Elefante Mark B has significantly increased its investment in American Express Company (NYSE: AXP) by 72.8% during the third quarter of 2024. This information comes from the fund’s latest 13F filing with the Securities & Exchange Commission. As a result of acquiring an additional 1,899 shares, Elefante Mark B now holds 4,508 shares of the payment services giant, which were valued at approximately $1,497,000 at the close of the reporting period.
A number of other institutional investors have also made adjustments to their holdings in American Express recently. For instance, Valley Wealth Managers Inc. raised its stake in the company by 153.3%, now owning 76 shares valued at about $25,000 after acquiring an additional 46 shares in the last quarter. Additionally, Briaud Financial Planning Inc. and Access Investment Management LLC each bought new positions during the second quarter, valued at around $26,000. Manning & Napier Advisors LLC and Guerra Advisors Inc. also entered new stakes in the third quarter, valued at approximately $27,000 and $28,000, respectively. Currently, institutional investors own 84.33% of American Express stock.
In related developments, insider trading activity has also been notable. On February 5, 2025, insider Anna Marrs sold 27,425 shares at an average price of $350.01, totaling approximately $9,599,024.25. Following this sale, Marrs retains 20,394 shares valued at around $7,138,103.94, marking a 57.35% decrease in her ownership. Another insider, Denise Pickett, sold 23,385 shares on the same day for about $8,346,340.35, reducing her stake by 75.10% to 7,754 shares, valued at $2,767,480.14. In total, insiders have sold 73,944 shares worth approximately $26,114,366 over the past three months, with corporate insiders owning only 0.20% of the company’s stock.
American Express’s stock opened at $341.93 on Friday, with a market capitalization of $234.77 billion. The company currently holds a P/E ratio of 22.22 and a P/E/G ratio of 1.46, alongside a beta of 1.14. Key financial metrics indicate a debt-to-equity ratio of 1.68, a quick ratio of 1.58, and a current ratio of 1.59. The stock’s fifty-day moving average stands at $364.73, while the 200-day average is $347.76. Over the past year, American Express has seen a low of $220.43 and a high of $387.49.
The company last released its quarterly earnings on January 30, 2025. It reported earnings per share (EPS) of $3.53, slightly missing the consensus estimate of $3.54 by $0.01. Revenue for the quarter totaled approximately $17.14 billion, falling short of expectations of $18.91 billion. Despite this, American Express recorded a net margin of 15.00% and a return on equity of 33.49%, with quarterly revenue reflecting a year-over-year increase of 10.5%. The company has set its guidance for fiscal year 2026 at EPS between $17.30 and $17.90.
American Express also recently declared a quarterly dividend of $0.82 per share, which was paid on February 10, 2025. Investors of record as of January 2, 2025 received this dividend, marking an annualized total of $3.28 and a yield of 1.0%. The company’s dividend payout ratio currently stands at 21.31%.
Wall Street analysts have shared mixed reviews on American Express. Wall Street Zen downgraded the stock from a “buy” to a “hold” rating on November 9, 2024. Conversely, Evercore set a price target of $393.00 for the shares on February 10, 2025. JPMorgan Chase & Co. reduced their target from $385.00 to $375.00 with a “neutral” rating. Meanwhile, Weiss Ratings upgraded the stock from “hold (c+)” to “buy (b-)” on December 29, 2024. Currently, nine analysts rate American Express as a buy, fifteen as a hold, and one as a sell, resulting in a consensus rating of “hold” with an average target price of $352.73.
American Express continues to be a leading player in the financial services sector, focusing on payment card products, travel services, and a robust merchant network. Founded in 1850, the company has evolved significantly, with its core services encompassing consumer and commercial charge and credit cards, a global card acceptance network, and travel-related services.
