S&CO Inc. acquired a new position in American Express Company (NYSE:AXP) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,386 shares of the payment services company’s stock, valued at approximately $2,160,000.
Several other hedge funds also recently modified their holdings of AXP. Norges Bank bought a new stake in American Express during the fourth quarter worth $2,464,215,000. Capital World Investors lifted 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 valued at $2,780,424,000 after acquiring an additional 2,393,340 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in American Express by 350.0% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,236,438 shares of the payment services company’s stock worth $373,998,000 after acquiring an additional 961,698 shares during the last quarter. Pictet Asset Management Holding SA boosted its holdings in American Express by 73.8% during the 1st quarter. Pictet Asset Management Holding SA now owns 1,451,606 shares of the payment services company’s stock worth $438,975,000 after acquiring an additional 616,498 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of American Express by 7.7% in the 4th 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 acquiring an additional 558,533 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.
American Express Price Performance
Shares of NYSE AXP opened at $342.27 on Friday. The company has a current ratio of 1.55, a quick ratio of 1.54 and a debt-to-equity ratio of 1.66. The stock has a fifty day simple moving average of $341.33 and a two-hundred day simple moving average of $327.58. American Express Company has a 1-year low of $290.97 and a 1-year high of $387.49. The firm has a market cap of $231.14 billion, a price-to-earnings ratio of 20.77, a price-to-earnings-growth ratio of 1.38 and a beta of 1.04.
American Express Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Thursday, July 2nd were paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Thursday, July 2nd. American Express’s payout ratio is currently 23.06%.
Wall Street Analyst Weigh In
AXP has been the topic of a number of recent analyst reports. Bank of America raised their price target on shares of American Express from $387.00 to $391.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Loop Capital started coverage on shares of American Express in a research report on Thursday, May 21st. They issued a “buy” rating and a $389.00 price objective for the company. Morgan Stanley decreased their price objective on shares of American Express from $385.00 to $382.00 and set an “equal weight” rating for the company in a research note on Monday, July 27th. JPMorgan Chase & Co. raised American Express from a “neutral” rating to an “overweight” rating and raised their target price for the company from $328.00 to $400.00 in a research report on Monday, July 13th. Finally, Freedom Capital upgraded American Express from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $373.32.
Check Out Our Latest Report on American Express
Key American Express News
Here are the key news stories impacting American Express this week:
- Positive Sentiment: Expanded virtual-card capabilities: AXP is making American Express Virtual Cards available through its @ Work platform for U.S. corporate customers. The products offer adjustable spending limits, enhanced fraud protection and easier expense management, potentially increasing commercial-payment volumes and customer retention. American Express expands virtual cards for US commercial customers
- Positive Sentiment: Premium travel ecosystem strengthened: American Express added 350 luxury hotels across 116 countries to the Platinum Card travel program. More curated booking options could improve the value proposition of its premium cards, support spending and help justify annual fees. American Express adds 350 luxury hotels to Platinum Card travel program
- Positive Sentiment: Evidence of loyalty-driven spending: United Airlines’ results highlighted how American Express perks can help capture premium travel spending, even without a United co-branded card. The example supports AXP’s broader strategy of using travel benefits and partnerships to attract affluent customers. Popular legacy airline captures premium spend because of American Express perks
- Positive Sentiment: Constructive analyst outlook: Piper Sandler forecast meaningful appreciation potential for AXP shares, providing a positive signal following the company’s recent earnings beat and continued revenue growth. Piper Sandler Forecasts Strong Price Appreciation for American Express Stock
- Neutral Sentiment: Capital structure update: AXP issued Series E preferred shares and announced full redemption of Series D preferred shares. The move may improve funding flexibility, but it also adds preferred financing obligations and has limited direct impact on common-share earnings. American Express Issues New Series E Preferred Shares
- Neutral Sentiment: Mixed analyst sentiment: Coverage of AXP showed differing views, suggesting valuation and expectations remain areas of debate despite the company’s strong operating trends. Analysts Have Conflicting Sentiments on American Express
About American Express
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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