Nadler Financial Group Inc. Raises Position in American Express (NYSE:AXP)

01 Nov 2024, 11:32 by Renee Jackson · The Cerbat Gem

Nadler Financial Group Inc. grew its position in shares of American Express (NYSE:AXP) by 10.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,177 shares of the payment services company’s stock after buying an additional 110 shares during the quarter. Nadler Financial Group Inc.’s holdings in American Express were worth $319,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in AXP. DHJJ Financial Advisors Ltd. grew its holdings in American Express by 42.2% during the second quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock valued at $38,000 after purchasing an additional 49 shares during the period. BNP Paribas bought a new position in shares of American Express during the 1st quarter valued at approximately $40,000. POM Investment Strategies LLC bought a new position in shares of American Express during the 2nd quarter valued at approximately $42,000. Founders Capital Management purchased a new stake in American Express in the 2nd quarter worth approximately $46,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new position in American Express during the third quarter valued at approximately $46,000. Institutional investors own 84.33% of the company’s stock.

American Express Stock Up 0.9 %

NYSE AXP traded up $2.34 on Friday, hitting $272.42. The stock had a trading volume of 226,142 shares, compared to its average volume of 2,905,062. American Express has a 52-week low of $148.33 and a 52-week high of $286.36. The business’s fifty day moving average price is $265.59 and its 200 day moving average price is $246.87. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.63 and a quick ratio of 1.63. The stock has a market cap of $191.91 billion, a price-to-earnings ratio of 19.88, a price-to-earnings-growth ratio of 1.49 and a beta of 1.21.

American Express (NYSE:AXP – Get Free Report) last released its earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.22. American Express had a return on equity of 32.46% and a net margin of 15.32%. The firm had revenue of $16.64 billion for the quarter, compared to the consensus estimate of $16.68 billion. During the same period in the prior year, the firm earned $3.30 EPS. The firm’s revenue was up 8.2% on a year-over-year basis. Equities research analysts anticipate that American Express will post 13.41 earnings per share for the current year.

American Express Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s dividend payout ratio (DPR) is 20.60%.

Insider Activity at American Express

In other American Express news, insider Anre D. Williams sold 77,887 shares of American Express stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $270.26, for a total transaction of $21,049,740.62. Following the completion of the sale, the insider now directly owns 111,656 shares in the company, valued at approximately $30,176,150.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Anre D. Williams sold 77,887 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now owns 111,656 shares of the company’s stock, valued at $30,176,150.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total value of $3,552,818.78. Following the completion of the sale, the insider now owns 109,691 shares in the company, valued at $29,724,067.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.12% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

AXP has been the topic of several recent analyst reports. TD Cowen raised their price objective on shares of American Express from $260.00 to $268.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Compass Point assumed coverage on shares of American Express in a research note on Tuesday, July 16th. They set a “neutral” rating and a $260.00 target price for the company. Jefferies Financial Group boosted their price target on shares of American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a research note on Tuesday, July 9th. The Goldman Sachs Group lifted their target price on American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Finally, Wells Fargo & Company raised 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. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $253.09.

Check Out Our Latest Report on American Express

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