Varma Mutual Pension Insurance Co acquired a new stake in shares of American Express Company (NYSE:AXP) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 112,035 shares of the payment services company’s stock, valued at approximately $37,896,000.
Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in American Express in the second quarter worth approximately $14,208,662,000. Norges Bank purchased a new position in shares of American Express during the fourth quarter worth approximately $2,464,215,000. Bank of New York Mellon Corp purchased a new position in shares of American Express during the second quarter worth approximately $1,263,787,000. Deutsche Bank AG bought a new stake in shares of American Express in the 2nd quarter worth approximately $927,950,000. Finally, Capital World Investors boosted its stake in shares of American Express by 46.7% in the 4th quarter. Capital World Investors now owns 7,515,675 shares of the payment services company’s stock valued at $2,780,424,000 after purchasing an additional 2,393,340 shares in the last quarter. Institutional investors own 84.33% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts recently commented on the stock. TD Cowen lifted 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. Truist Financial upped their price target on shares of American Express from $360.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. Piper Sandler raised their price objective on American Express from $396.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Benchmark initiated coverage on American Express in a report on Monday, July 13th. They issued a “buy” rating on the stock. Finally, Bank of America increased their target price on American Express from $387.00 to $391.00 and gave the company a “buy” rating in a report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $373.32.
American Express Trading Up 1.5%
NYSE:AXP opened at $336.00 on Friday. The company has a fifty day moving average of $343.19 and a 200 day moving average of $326.83. American Express Company has a 52 week low of $290.97 and a 52 week high of $387.49. The company has a quick ratio of 1.54, a current ratio of 1.55 and a debt-to-equity ratio of 1.66. The firm has a market capitalization of $226.90 billion, a P/E ratio of 20.39, a P/E/G ratio of 1.36 and a beta of 1.04.
American Express (NYSE:AXP – Get Free Report) last announced its quarterly earnings results on Friday, July 24th. The payment services company reported $4.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.41 by $0.12. American Express had a net margin of 15.07% and a return on equity of 34.12%. The business 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 earned $4.08 EPS. The company’s revenue was up 10.0% on a year-over-year basis. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. On average, research analysts predict that American Express Company will post 17.67 earnings per share for the current year.
American Express Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Thursday, July 2nd were issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Thursday, July 2nd. American Express’s dividend payout ratio is currently 23.06%.
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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