Geode Capital Management LLC has recently announced that it has increased stake in American Express Co. (NYSE:AXP) by 0.08%. After grabbing 10.83 million shares, the institutional investor is now in possession of 8412.0 shares of the Financial Company. The new investment brought the stake of investor firm to 1.49% having worth around $1.58 billion.
American Express Co. (AXP) concluded trading on 12/14/23 at a closing price of $178.86, with 4.55 million shares of worth about $813.46 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 2.91% during that period and on Thursday the price saw a gain of about 2.46%. Currently the company’s common shares owned by public are about 743.00M shares, out of which, 727.88M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 57 times over the past 12 months. They bought 504,008 shares in 26 of the transactions. In 31 selling transactions, insiders dumped 353,452 shares.
Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Vanguard Dividend Growth Fund are the top 3 mutual funds which are holding stakes in American Express Co. Vanguard Total Stock Market ETF is currently holding 17.28 million shares of worth totaling $2.52 billion. The company recently came buying 77645.0 shares which brought its stake up to 2.37% of the company’s outstanding shares. Vanguard 500 Index Fund bought 68940.0 shares, after which its hold over company’s outstanding shares expand to 1.93%, leaving 14.05 million shares with the mutual fund that have a worth of about $2.05 billion. Vanguard Dividend Growth Fund, after buying 7.74 million shares, have now control over 1.06% of the stake in the company. It holds 0.33 million shares of worth $1.13 billion.
Stock saw a price change of 6.07% in past 5 days and over the past one month there was a price change of 13.99%. Year-to-date (YTD), AXP shares are showing a performance of 21.06% which increased to 13.55% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $140.91 but also hit the highest price of $182.15 during that period. The average intraday trading volume for American Express Co. shares is 3.11 million. The stock is currently trading 7.12% above its 20-day simple moving average (SMA20), while that difference is up 14.37% for SMA50 and it goes to 10.95% higher than SMA200.
Geode Capital Management LLC acquired 10.83 million shares of American Express Co. having value of about $1.58 billion. Data submitted at the U.S SEC by Geode Capital Management LLC revealed that the firm now holds 8412.0 shares in the company valued at close to $1504570.32, or have control over 0.08% stake in the company. American Express Co. (NYSE: AXP) currently have 743.00M outstanding shares and institutions hold larger chunk of about 85.35% of that. Holding of mutual funds in the company is about 34.16% while other institutional holders and individual stake holders have control over 51.64% and 0.90% of the stake respectively.
The stock has a current market capitalization of $130.34B and its 3Y-monthly beta is at 1.21. PE ratio of stock for trailing 12 months is 16.77, while it has posted earnings per share of $10.67 in the same period. Its PEG reads 1.18 while making debt-to-equity ratio of 1.76. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for AXP, volatility over the week remained 1.80% while standing at 1.71% over the month.
Analysts are in expectations that American Express Co. (AXP) stock would likely to be making an EPS of $2.45 in the current quarter, while forecast for next quarter EPS is $2.67 and it is $11.44 for next year. For the current quarter EPS, analysts have given the company a lowest target $2.32 which is $2.7 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $2.07 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 14.18% while it is estimated to increase by 9.76% in next year. EPS is likely to shrink at an annualized rate of 14.20% for next 5-years, compared to annual growth of 26.90% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Barclays on November 15, 2023 offering an Overweight rating for the stock and assigned a target price of $184 to it.
