Geode Capital Management LLC recently announced the acquisition of new stake in American Express Co. (NYSE:AXP). The institutional investor has increased its shareholding in the Financial company by 0.08% to 10.83 million shares with purchase of 8412.0 shares. This fresh investment now brings its stake to 1.49% valued currently at $2.03 billion.
Currently, there are 728.75M common shares owned by the public and among those 727.88M shares have been available to trade.
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Insiders at the company have transacted a total of 55 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 25 of these insider trades were purchases, accounting for 494,972 shares. Insider sales of the common stock occurred on 30 occasions, with total insider shares sold totaling 349,699 shares.
The top 3 mutual fund holders in American Express Co. are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Vanguard Dividend Growth Fund. Vanguard Total Stock Market ETF owns 17.15 million shares of the company’s stock, all valued at over $3.21 billion. The company sold -0.16 million shares recently to bring their total holdings to about 2.35% of the shares outstanding. Vanguard 500 Index Fund sold -0.12 million shares to see its total holdings shrink to 14.06 million shares valued at over $2.63 billion and representing 1.93% of the shares outstanding. Vanguard Dividend Growth Fund now owns shares totaling to 1.06% of the shares outstanding.
The company’s stock has a 5-day price change of 9.97% and 40.35% over the past three months. AXP shares are trading 7.52% year to date (YTD), with the 12-month market performance up to 28.49% higher. It has a 12-month low price of $140.91 and touched a high of $189.51 over the same period. AXP has an average intraday trading volume of 2.98 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 8.58%, 14.11%, and 22.86% respectively.
Institutional ownership of American Express Co. (NYSE: AXP) shares accounts for 85.40% of the company’s 728.75M shares outstanding. Mutual fund holders own 34.28%, while other institutional holders and individual stakeholders account for 51.47% and 0.90% respectively.
It has a market capitalization of $146.79B and a beta (3y monthly) value of 1.22. The stock’s trailing 12-month PE ratio is 17.96, while the earnings-per-share (ttm) stands at $11.21. The company has a PEG of 1.23 and the debt-to-equity ratio at 1.75. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.22% over the week and 1.59% over the month.
Analysts forecast that American Express Co. (AXP) will achieve an EPS of $2.43 for the current quarter, $2.71 for the next quarter and $11.42 for 2024. The lowest estimate earnings-per-share for the quarter is $2.33 while analysts give the company a high EPS estimate of $2.69. Comparatively, EPS for the current quarter was $2.07 a year ago. Earnings per share for the fiscal year are expected to increase by 11.85%, and 15.34% over the next financial year. EPS should grow at an annualized rate of 14.60% over the next five years, compared to 7.25% over the past 5-year period.
Looking at the support for the AXP, a number of firms have released research notes about the stock. Deutsche Bank stated their Buy rating for the stock in a research note on January 10, 2024, with the firm’s price target at $235.
