Integrated Wealth Concepts LLC lifted its holdings in American Express Company (NYSE:AXP) by 8.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 30,277 shares of the payment services company’s stock after buying an additional 2,243 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in American Express were worth $10,241,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in AXP. Evolution Wealth Management Inc. increased its holdings in American Express by 6,600.0% in the 4th quarter. Evolution Wealth Management Inc. now owns 67 shares of the payment services company’s stock valued at $25,000 after purchasing an additional 66 shares in the last quarter. Archer Investment Corp purchased a new stake in shares of American Express in the second quarter worth about $25,000. Sfam LLC purchased a new stake in shares of American Express in the fourth quarter worth about $26,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of American Express in the fourth quarter valued at about $28,000. Finally, Measured Wealth Private Client Group LLC purchased a new stake in shares of American Express during the 3rd quarter valued at about $28,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts recently commented on the company. Truist Financial boosted their price target on American Express from $360.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Guggenheim assumed coverage on shares of American Express in a research note on Monday, July 13th. They set a “buy” rating on the stock. Piper Sandler boosted their target price on shares of American Express from $396.00 to $405.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 12th. Freedom Capital upgraded shares of American Express from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 14th. Finally, Bank of America lifted their price target 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 investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $373.32.
American Express Trading Down 0.3%
NYSE AXP opened at $320.73 on Friday. American Express Company has a 12 month low of $290.97 and a 12 month high of $387.49. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.55 and a quick ratio of 1.54. The company has a market capitalization of $216.59 billion, a price-to-earnings ratio of 19.46, a price-to-earnings-growth ratio of 1.37 and a beta of 1.05. The company’s fifty day moving average price is $339.99 and its two-hundred day moving average price is $324.69.
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 for the quarter, topping the consensus estimate of $4.41 by $0.12. The company had revenue of $19.64 billion during the quarter, compared to the consensus estimate of $19.70 billion. American Express had a net margin of 15.07% and a return on equity of 34.12%. The company’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.08 EPS. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. As a group, research analysts predict that American Express Company will post 17.68 earnings per share for the current fiscal year.
American Express Profile
American Express Company is a global payments and financial services company that provides payment products, services and experiences to consumers, businesses and institutions. Its offerings include credit and charge cards, consumer and commercial payment solutions, business financing, deposit products and expense-management tools.
The company also operates a global payments network connecting cardmembers, merchants and financial institutions. Through its merchant services business, American Express supports payment acceptance and provides data-driven marketing and customer-engagement solutions.
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