Everhart Financial Group Inc. increased its position in shares of American Express Company (NYSE:AXP – Free Report) by 45.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,581 shares of the payment services company’s stock after buying an additional 2,373 shares during the period. Everhart Financial Group Inc.’s holdings in American Express were worth $2,305,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of American Express during the 2nd quarter worth about $14,208,662,000. State Street Corp boosted its holdings in American Express by 40.2% in the second quarter. State Street Corp now owns 40,967,262 shares of the payment services company’s stock worth $13,857,176,000 after purchasing an additional 11,739,541 shares during the last quarter. Bank of America Corp DE increased its holdings in American Express by 8.4% during the second quarter. Bank of America Corp DE now owns 7,969,555 shares of the payment services company’s stock valued at $2,695,702,000 after buying an additional 614,981 shares during the last quarter. Nuveen LLC boosted its holdings in American Express by 6.0% during the 4th quarter. Nuveen LLC now owns 5,172,484 shares of the payment services company’s stock valued at $1,913,560,000 after acquiring an additional 293,107 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of American Express by 1.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,806,554 shares of the payment services company’s stock valued at $1,778,185,000 after purchasing an additional 83,083 shares during the period. 84.33% of the stock is owned by institutional investors and hedge funds.
American Express Trading Down 0.1%
NYSE:AXP traded down $0.43 during trading hours on Thursday, reaching $303.82. The company’s stock had a trading volume of 1,322,388 shares, compared to its average volume of 3,230,448. The firm has a market capitalization of $205.17 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 1.31 and a beta of 1.08. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.54 and a current ratio of 1.55. The firm has a 50-day simple moving average of $325.66 and a 200-day simple moving average of $324.90. American Express Company has a 1 year low of $290.97 and a 1 year high of $387.49.
American Express Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 10th. Shareholders of record on Friday, October 9th will be paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, October 9th. American Express’s payout ratio is 23.06%.
Analyst Ratings Changes
Several research firms have commented on AXP. Jefferies Financial Group upgraded American Express from a “hold” rating to a “buy” rating in a research note on Monday, July 13th. Guggenheim started coverage on American Express in a report on Monday, July 13th. They issued a “buy” rating for the company. Barclays decreased their target price on American Express from $364.00 to $342.00 and set an “equal weight” rating on the stock in a report on Monday. Loop Capital dropped their price objective on shares of American Express from $389.00 to $386.00 and set a “buy” rating for the company in a research note on Monday, July 27th. Finally, Truist Financial dropped their price objective on shares of American Express from $375.00 to $370.00 and set a “buy” rating for the company in a report on Wednesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, sixteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $364.50.
Check Out Our Latest Analysis on American Express
American Express News Summary
Here are the key news stories impacting American Express this week:
- Positive Sentiment: Corporate spending expansion: American Express launched an integrated Corporate Cashback platform combining new cards, expense-management software and AI tools for spending controls and reporting. The company also said its cards are accepted at more than 190 million locations worldwide, supporting potential volume and fee growth. American Express Rolls Out Corporate Cashback Platform
- Positive Sentiment: Opportunity in AI-enabled commerce: Amex is advising merchants on preparing for consumers who use artificial-intelligence agents to compare and purchase products. Its proposed support for transactions that go wrong could help build trust and strengthen Amex’s role in emerging commerce channels. Amex advises businesses on AI
- Positive Sentiment: Premium customer engagement: The planned expansion of the Newark Centurion Lounge and Amex’s Hong Kong Wine & Dine sponsorship reinforce its premium travel and lifestyle ecosystem, potentially supporting card acquisition and retention. Amex Supersizes Newark Airport Centurion Lounge
- Positive Sentiment: Dividend appeal: Investors must own the stock by October 9 to qualify for the November 10 dividend, highlighting AXP’s appeal as an income-and-growth holding despite its relatively modest yield. American Express Dividend Article
- Neutral Sentiment: Heightened attention: AXP is trending among Zacks users, but the coverage mainly recaps existing fundamentals rather than identifying a new business catalyst. AXP Is a Trending Stock
- Neutral Sentiment: Analyst stance: UBS maintained a Hold rating, suggesting limited near-term conviction at current valuation levels. UBS Keeps Their Hold Rating
- Negative Sentiment: AI execution and liability risks: Amex’s agentic-commerce initiative may require the company to absorb losses when autonomous transactions fail, creating uncertainty around costs, fraud exposure and profitability. Rising demand for Centurion Lounges may also require substantial investment.
American Express Profile
American Express Company (NYSE: AXP) is a global financial services company that provides payment, lending, travel and related products to consumers, small businesses and corporate customers. Its offerings include consumer and business charge and credit cards, payment solutions, commercial financing, deposit products and rewards programs.
American Express also operates a worldwide merchant network and provides businesses with payment acceptance services, transaction-processing capabilities and data-driven marketing solutions.
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