Corient Private Wealth LP lessened its holdings in American Express Company (NYSE:AXP) by 10.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 718,481 shares of the payment services company’s stock after selling 87,229 shares during the period. Corient Private Wealth LP’s holdings in American Express were worth $243,026,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of AXP. California State Teachers Retirement System boosted its stake in shares of American Express by 32,491.3% during the second quarter. California State Teachers Retirement System now owns 269,392,448 shares of the payment services company’s stock valued at $91,121,996,000 after acquiring an additional 268,565,871 shares during the last quarter. BlackRock Inc. acquired a new position in American Express in the 2nd quarter valued at about $14,208,662,000. Norges Bank acquired a new position in American Express in the 4th quarter valued at about $2,464,215,000. Bank of New York Mellon Corp purchased a new position in American Express in the 2nd quarter valued at about $1,263,787,000. Finally, Legal & General Group Plc purchased a new position in American Express in the 2nd quarter valued at about $1,138,054,000. 84.33% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on AXP shares. Benchmark assumed coverage on shares of American Express in a report on Monday, July 13th. They set a “buy” rating for the company. Piper Sandler upped their price objective on shares of American Express from $396.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Loop Capital assumed coverage on shares of American Express in a research note on Thursday, May 21st. They issued a “buy” rating and a $389.00 target price for the company. Evercore set a $370.00 price target on American Express in a report on Monday, July 27th. Finally, BTIG Research reduced their price target on American Express from $324.00 to $315.00 and set a “sell” rating on the stock in a research note on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, American Express has an average rating of “Moderate Buy” and a consensus price target of $373.32.
American Express Stock Performance
NYSE AXP opened at $320.73 on Friday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.55 and a quick ratio of 1.54. American Express Company has a 1-year low of $290.97 and a 1-year high of $387.49. The firm has a market capitalization of $216.59 billion, a P/E ratio of 19.46, a P/E/G ratio of 1.37 and a beta of 1.05. The business’s 50-day simple moving average is $339.99 and its 200-day simple moving average is $324.69.
American Express (NYSE:AXP – Get Free Report) last posted its quarterly earnings results on Friday, July 24th. The payment services company reported $4.53 EPS for the quarter, beating the consensus estimate of $4.41 by $0.12. American Express had a net margin of 15.07% and a return on equity of 34.12%. The firm had revenue of $19.64 billion for the quarter, compared to analyst estimates of $19.70 billion. During the same quarter last year, the firm posted $4.08 earnings per share. American Express’s revenue for the quarter was up 10.0% compared to the same quarter last year. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. Equities analysts predict that American Express Company will post 17.68 EPS for the current year.
About American Express
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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