Empirical Asset Management LLC bought a new position in shares of American Express Company (NYSE:AXP – Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,333 shares of the payment services company’s stock, valued at approximately $789,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. purchased a new position in American Express during the 2nd quarter worth approximately $14,208,662,000. Norges Bank purchased a new stake in American Express in the fourth quarter valued at approximately $2,464,215,000. Bank of New York Mellon Corp acquired a new stake in shares of American Express in the second quarter valued at approximately $1,263,787,000. Deutsche Bank AG acquired a new stake in shares of American Express in the second quarter valued at approximately $927,950,000. Finally, Capital World Investors grew its position in shares of American Express by 46.7% during the fourth quarter. Capital World Investors now owns 7,515,675 shares of the payment services company’s stock worth $2,780,424,000 after acquiring an additional 2,393,340 shares during the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities analysts have recently commented on AXP shares. Truist Financial lifted their target price on shares of American Express from $360.00 to $375.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. BTIG Research lowered their price objective on shares of American Express from $324.00 to $315.00 and set a “sell” rating on the stock in a research report on Monday, July 27th. TD Cowen lifted their price objective on shares of American Express from $330.00 to $338.00 and gave the company a “hold” rating in a research note on Tuesday, July 7th. Morgan Stanley reduced their target price on shares of American Express from $385.00 to $382.00 and set an “equal weight” rating for the company in a report on Monday, July 27th. Finally, Bank of America increased their target price on shares of American Express from $387.00 to $391.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, American Express presently has an average rating of “Moderate Buy” and an average price target of $373.32.
American Express Trading Up 0.6%
NYSE AXP opened at $338.10 on Wednesday. The company has a quick ratio of 1.54, a current ratio of 1.55 and a debt-to-equity ratio of 1.66. The stock has a market capitalization of $228.32 billion, a P/E ratio of 20.52, a P/E/G ratio of 1.38 and a beta of 1.04. American Express Company has a 52-week low of $290.97 and a 52-week high of $387.49. The firm has a 50-day moving average price of $342.20 and a 200 day moving average price of $327.04.
American Express (NYSE:AXP – Get Free Report) last released its earnings results on Friday, July 24th. The payment services company reported $4.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.41 by $0.12. The company had revenue of $14.99 billion for the quarter, compared to analysts’ expectations of $19.70 billion. American Express had a return on equity of 34.12% and a net margin of 15.07%.The firm’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.08 EPS. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. Equities research analysts expect that American Express Company will post 17.67 EPS for the current year.
American Express Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Thursday, July 2nd were given a $0.95 dividend. The ex-dividend date was Thursday, July 2nd. This represents a $3.80 annualized dividend and a yield of 1.1%. American Express’s dividend payout ratio is presently 23.06%.
American Express 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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