Fidelis Capital Partners LLC has raised its holdings in American Express Company (NYSE: AXP) by 8.3% during the second quarter of 2023, according to data from HoldingsChannel.com. Following the acquisition of an additional 399 shares, the firm now owns 5,227 shares of the payment services company, valued at approximately $1.55 million as reported in its latest filing with the Securities and Exchange Commission (SEC).
A number of other investment firms have also adjusted their positions in American Express recently. Access Investment Management LLC and Briaud Financial Planning Inc both acquired new stakes in the company during the same quarter, each valued at around $26,000. Chung Wu Investment Group LLC purchased a stake worth approximately $37,000, while Solstein Capital LLC acquired shares valued at about $39,000. Additionally, Hughes Financial Services LLC entered a new position in American Express valued at approximately $35,000. Institutional investors now own 84.33% of the company’s stock.
Insider Transactions and Market Performance
In related developments, insider Denise Pickett sold 5,000 shares of American Express on October 22, 2023, at an average price of $350.73, resulting in a total sale value of $1,753,650. Following this transaction, Pickett’s ownership in the company decreased by 39.29%, leaving her with 7,726 shares valued at approximately $2.71 million. Another insider, Douglas Tabish, sold 2,515 shares on October 23, 2023, at an average price of $355.61, totaling $894,359.15. This sale represents a 50% decrease in his holdings.
Over the past quarter, insiders sold a combined total of 193,292 shares of American Express, valued at $65.36 million. Currently, insiders hold 0.20% of the company’s stock.
American Express shares opened at $368.90 on Monday, reflecting a market capitalization of $254.12 billion. The company has a price-to-earnings (P/E) ratio of 24.76, a price-to-earnings-growth (PEG) ratio of 1.90, and a beta of 1.27. American Express also has a debt-to-equity ratio of 1.78, with a quick ratio of 1.59 and a current ratio of 1.61. Over the past year, the stock has reached a low of $220.43 and a high of $370.00.
Strong Quarterly Earnings and Upcoming Dividend
American Express recently reported its quarterly earnings on October 17, 2023. The company posted earnings per share (EPS) of $4.14, exceeding analysts’ expectations of $3.98 by $0.16. The firm achieved a net margin of 14.97% and a return on equity of 33.41%. Revenue for the quarter reached $18.43 billion, surpassing the consensus estimate of $18.03 billion and reflecting an 11% increase compared to the same quarter last year. For fiscal year 2025, American Express has set guidance for EPS between $15.20 and $15.50. Analysts predict an average EPS of $15.33 for the current year.
In addition to its strong earnings, American Express has declared a quarterly dividend of $0.82, which will be paid on November 10, 2023, to investors of record as of October 10, 2023. This translates to an annualized dividend of $3.28 and a yield of 0.9%. The company’s payout ratio stands at 22.01%.
American Express operates as an integrated payments company across various regions, including the United States, Europe, the Middle East, and Africa, as well as the Asia Pacific, Australia, New Zealand, Latin America, Canada, and the Caribbean. The company functions through four main segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.
