SummitTX Capital L.P. bought a new position in American Express Company (NYSE:AXP) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 5,651 shares of the payment services company’s stock, valued at approximately $1,709,000.
A number of other hedge funds also recently added to or reduced their stakes in AXP. Evolution Wealth Management Inc. grew its position in shares of American Express by 6,600.0% during the fourth quarter. Evolution Wealth Management Inc. now owns 67 shares of the payment services company’s stock worth $25,000 after acquiring an additional 66 shares during the last quarter. Joseph Group Capital Management acquired a new stake in shares of American Express in the 4th quarter worth about $26,000. Sfam LLC bought a new stake in American Express in the 4th quarter valued at about $26,000. Caitong International Asset Management Co. Ltd bought a new stake in American Express in the 4th quarter valued at about $28,000. Finally, Measured Wealth Private Client Group LLC acquired a new position in American Express during the 3rd quarter valued at about $28,000. 84.33% of the stock is currently owned by institutional investors.
American Express Stock Performance
AXP opened at $330.73 on Thursday. The business has a 50 day moving average price of $333.92 and a two-hundred day moving average price of $328.98. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.55 and a quick ratio of 1.62. The company has a market capitalization of $223.35 billion, a price-to-earnings ratio of 20.07, a price-to-earnings-growth ratio of 1.36 and a beta of 1.04. American Express Company has a 1-year low of $288.34 and a 1-year high of $387.49.
American Express Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Thursday, July 2nd will be given a $0.95 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $3.80 annualized dividend and a yield of 1.1%. American Express’s payout ratio is 23.06%.
Analysts Set New Price Targets
Several research analysts have commented on the stock. TD Cowen upped their target price on shares of American Express from $330.00 to $338.00 and gave the stock a “hold” rating in a research report on Tuesday, July 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of American Express in a report on Monday, July 13th. Piper Sandler downgraded American Express from an “overweight” rating to a “hold” rating in a research report on Monday, July 13th. DZ Bank raised American Express from a “hold” rating to a “buy” rating and set a $375.00 price objective for the company in a report on Thursday, June 18th. Finally, UBS Group raised their target price on American Express from $340.00 to $386.00 and gave the company a “neutral” rating in a research report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $372.95.
View Our Latest Stock Report on American Express
More American Express News
Here are the key news stories impacting American Express this week:
- Positive Sentiment: Jim Cramer characterized the post-earnings decline as a potential buying opportunity, pointing to American Express’ earnings beat, upgraded revenue guidance and continued business momentum. Jim Cramer says American Express’ post-earnings sell-off is a buying opportunity
- Positive Sentiment: American Express reported quarterly EPS of $4.53, above the $4.41 consensus, while revenue increased 10% year over year. Management’s full-year guidance and accelerating card spending support the outlook for continued fee and revenue growth. American Express lifts revenue guidance as card spending accelerates
- Positive Sentiment: KBW and Deutsche Bank maintained bullish views with Buy ratings, while valuation analysis from Yahoo Finance argued that AXP may still trade below its intrinsic value despite its strong long-term performance. American Express receives a Buy from KBW
- Neutral Sentiment: Analysts and financial comparisons present a mixed picture: American Express benefits from a premium customer base, strong returns and durable card-member retention, but its concentrated lending model carries more credit exposure than diversified financial companies such as Berkshire Hathaway. American Express versus Berkshire Hathaway
- Negative Sentiment: BTIG Research lowered its AXP price target to $315, and Jefferies retained a Hold rating. These cautious calls suggest limited near-term upside after the stock’s substantial multiyear gains and recent earnings-related volatility. BTIG lowers American Express price target
- Negative Sentiment: Investors remain concerned that premium valuation, potential changes in consumer credit quality and the possibility that growth expectations are already embedded in the share price could weigh on AXP, explaining the negative market reaction despite solid results. Bank of America versus American Express
American Express Company 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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