Jag Capital Management LLC lessened its position in American Express Company (NYSE:AXP) by 47.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,313 shares of the payment services company’s stock after selling 20,333 shares during the quarter. Jag Capital Management LLC’s holdings in American Express were worth $6,749,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in American Express in the 4th quarter valued at $2,464,215,000. Capital World Investors boosted its stake in American Express by 46.7% during the 4th quarter. Capital World Investors now owns 7,515,675 shares of the payment services company’s stock worth $2,780,424,000 after purchasing an additional 2,393,340 shares during the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of American Express by 73.8% during the first quarter. Pictet Asset Management Holding SA now owns 1,451,606 shares of the payment services company’s stock worth $438,975,000 after buying an additional 616,498 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of American Express by 7.7% during the fourth quarter. Bank of America Corp DE now owns 7,850,298 shares of the payment services company’s stock worth $2,904,218,000 after buying an additional 558,533 shares in the last quarter. Finally, Amundi raised its position in shares of American Express by 23.9% in the third quarter. Amundi now owns 2,787,580 shares of the payment services company’s stock valued at $925,449,000 after buying an additional 537,205 shares during the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.
American Express Trading Up 0.8%
Shares of American Express stock opened at $361.23 on Friday. The stock has a 50 day moving average of $328.60 and a 200 day moving average of $331.16. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.56 and a current ratio of 1.57. The firm has a market capitalization of $246.48 billion, a price-to-earnings ratio of 22.53, a PEG ratio of 1.44 and a beta of 1.04. American Express Company has a fifty-two week low of $288.34 and a fifty-two week high of $387.49.
American Express Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Thursday, July 2nd will be given a $0.95 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $3.80 dividend on an annualized basis and a yield of 1.1%. American Express’s dividend payout ratio is presently 23.71%.
More American Express News
Here are the key news stories impacting American Express this week:
- Positive Sentiment: American Express raised the annual fee on its Platinum card to $895, a 29% increase that could lift card-fee revenue if retention stays strong, as recent reports suggest. American Express Raised Its Platinum Annual Fee to $895. Here’s What the 29% Hike Means for Card-Fee Revenue.
- Positive Sentiment: Analyst coverage continues to frame American Express as a strong financial-services name, which can support investor confidence heading into the next earnings report. Analysts Offer Insights on Financial Companies: American Express (AXP) and Metlife (MET)
- Positive Sentiment: Some investors are looking for a pre-earnings setup in American Express before the July 24 report, suggesting expectations for another solid quarter. The 1 Simple Reason to Buy American Express Before July 24 Earnings
- Neutral Sentiment: One article asks whether American Express is overpriced, but it appears to be a valuation discussion rather than a new operational issue. Is American Express (NYSE:AXP) Priced Too High?
- Neutral Sentiment: Broader payment-industry news, including Visa’s AI banking tool and PayPal-related takeover speculation, may influence sentiment for card networks, but it does not directly change American Express fundamentals. Visa Strengthens Value-Added Services With AI Assistant for Banks
Analyst Ratings Changes
A number of research firms recently weighed in on AXP. Truist Financial boosted their price target on shares of American Express from $360.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. BTIG Research increased their price objective on shares of American Express from $285.00 to $324.00 and gave the company a “sell” rating in a report on Tuesday, June 30th. Jefferies Financial Group raised shares of American Express from a “hold” rating to a “buy” rating in a research note on Monday. Morgan Stanley upgraded American Express from a “positive” rating to an “overweight” rating in a report on Monday. Finally, The Goldman Sachs Group increased their price target on American Express from $360.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $374.15.
Get Our Latest Stock Analysis on American Express
American Express Company Profile
American Express is a global financial services company primarily known for its payment card products, travel services and merchant network. Founded in 1850 as an express mail business, the company evolved through the 20th century into a payments and travel-focused organization. Its core activities include issuing consumer and commercial charge and credit cards, operating a global card acceptance and processing network, and providing travel-related services and customer loyalty programs.
American Express issues a range of products for individuals, small businesses and large corporations, including personal cards, business and corporate cards, and co‑brand partnerships with airlines, hotels and retailers.
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