Mirae Asset Global Investments Co. Ltd. bought a new position in shares of American Express Company (NYSE:AXP – Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 162,503 shares of the payment services company’s stock, valued at approximately $49,417,000.
Other hedge funds have also recently bought and sold shares of the company. Riverbend Wealth Management LLC grew its position in American Express by 0.8% in the third quarter. Riverbend Wealth Management LLC now owns 4,534 shares of the payment services company’s stock valued at $1,379,000 after acquiring an additional 34 shares in the last quarter. Valmark Advisers Inc. lifted its position in shares of American Express by 1.9% during the first quarter. Valmark Advisers Inc. now owns 1,878 shares of the payment services company’s stock worth $568,000 after purchasing an additional 35 shares in the last quarter. Cedar Mountain Advisors LLC boosted its stake in shares of American Express by 58.3% in the second quarter. Cedar Mountain Advisors LLC now owns 95 shares of the payment services company’s stock valued at $32,000 after purchasing an additional 35 shares during the period. Consilium Wealth Advisory LLC boosted its stake in shares of American Express by 4.6% in the third quarter. Consilium Wealth Advisory LLC now owns 793 shares of the payment services company’s stock valued at $241,000 after purchasing an additional 35 shares during the period. Finally, Gryphon Financial Partners LLC increased its stake in American Express by 1.5% during the 1st quarter. Gryphon Financial Partners LLC now owns 2,489 shares of the payment services company’s stock worth $753,000 after buying an additional 36 shares during the period. Hedge funds and other institutional investors own 84.33% of the company’s stock.
Key American Express News
Here are the key news stories impacting American Express this week:
- Positive Sentiment: American Express introduced a new redemption option allowing eligible consumer and business cash-back cardmembers to deposit Reward Dollars into American Express High Yield Savings Accounts and Business Checking Accounts. The feature could improve customer retention, deepen relationships across the company’s card and banking products, and support deposit growth. American Express Connects Cash Back to High Yield Savings Accounts and Business Checking Accounts
- Positive Sentiment: The launch of Canada’s first Hilton Honors American Express co-branded card expands the company’s international partnership with Hilton and could generate additional spending, fees, and customer acquisition. American Express and Hilton Launch Canada’s First Hilton Honors Credit Card
- Positive Sentiment: American Express benefited from positive payments-sector sentiment after Mastercard reported better-than-expected revenue and earnings, although the effect may be temporary. Mastercard Rises on Revenue and EPS Beat
- Neutral Sentiment: American Express issued $1.5 billion of fixed-to-floating-rate notes carrying a 5.447% rate. The financing provides capital, but increases interest expense and leverage exposure. American Express Issues New Fixed-to-Floating Rate Notes
- Neutral Sentiment: Analyst coverage remains mixed. Commentary favors Mastercard for faster growth, more diversified revenue, and lower credit risk, while other coverage highlights AXP’s strong profitability, revenue growth, share repurchases, and Berkshire Hathaway’s sizable stake.
- Negative Sentiment: A U.S. Bank risk executive is reportedly moving to American Express as the company deals with regulatory penalties related to anti-money-laundering compliance failures. The leadership addition may strengthen risk controls, but the penalties and compliance scrutiny create reputational and cost risks. U.S. Bank Risk Chief Heads to Amex
- Negative Sentiment: Relative-value analysis argues that Mastercard currently offers better growth prospects and lower credit risk than American Express, potentially limiting investor enthusiasm for AXP despite its lower valuation.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on AXP shares. Barclays reduced their target price on American Express from $342.00 to $340.00 and set an “equal weight” rating for the company in a research note on Monday, October 26th. Weiss Ratings raised shares of American Express from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, October 26th. Citigroup lowered their price objective on American Express from $340.00 to $335.00 and set a “neutral” rating for the company in a report on Tuesday, October 27th. Truist Financial dropped their price target on American Express from $375.00 to $370.00 and set a “buy” rating on the stock in a research report on Wednesday, September 23rd. Finally, William Blair restated an “outperform” rating on shares of American Express in a research note on Friday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $365.19.
Get Our Latest Research Report on AXP
American Express Stock Down 0.0%
American Express stock opened at $319.03 on Monday. The company has a market capitalization of $213.93 billion, a P/E ratio of 17.96, a P/E/G ratio of 1.35 and a beta of 1.09. The firm’s fifty day simple moving average is $317.18 and its 200-day simple moving average is $326.44. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.64. American Express Company has a 1-year low of $290.97 and a 1-year high of $387.49.
American Express (NYSE:AXP – Get Free Report) last issued its quarterly earnings data on Friday, October 23rd. The payment services company reported $4.68 earnings per share for the quarter, topping analysts’ consensus estimates of $4.50 by $0.18. The business had revenue of $20.06 billion during the quarter, compared to analysts’ expectations of $20.12 billion. American Express had a net margin of 15.80% and a return on equity of 34.19%. American Express’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the previous year, the company earned $4.14 earnings per share. American Express has set its FY 2026 guidance at 17.600-17.900 EPS. Sell-side analysts forecast that American Express Company will post 17.88 earnings per share for the current fiscal year.
American Express Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 10th. Stockholders of record on Friday, October 9th will be paid a $0.95 dividend. The ex-dividend date is Friday, October 9th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.2%. American Express’s payout ratio is presently 21.40%.
American Express Profile
American Express Company is a global financial services company that provides payment, lending, travel and expense management products and services. Its offerings include consumer and small-business charge and credit cards, corporate payment programs, business financing solutions, deposit products and digital payment services.
The company operates an integrated payments network that connects card members, merchants and financial institutions. American Express also provides merchant acquisition and payment processing services, data and analytics, fraud prevention tools, and customer loyalty programs.
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