N10 Assets LLC bought a new position in American Express Company (NYSE:AXP – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 15,305 shares of the payment services company’s stock, valued at approximately $5,177,000. American Express makes up about 2.2% of N10 Assets LLC’s holdings, making the stock its 20th biggest position.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of American Express in the 2nd quarter worth approximately $14,208,662,000. Norges Bank bought a new position in shares of American Express during the 4th quarter valued at $2,464,215,000. Corient Private Wealth LP bought a new position in shares of American Express during the 2nd quarter valued at $253,945,000. Bank of New York Mellon Corp purchased a new position in American Express in the 2nd quarter worth $1,263,787,000. Finally, Legal & General Group Plc purchased a new position in American Express in the 2nd quarter worth $1,138,054,000. 84.33% of the stock is currently owned by institutional investors.
American Express Price Performance
AXP stock opened at $334.03 on Friday. The stock has a market capitalization of $225.57 billion, a price-to-earnings ratio of 20.27, a PEG ratio of 1.36 and a beta of 1.04. The firm’s 50-day moving average price is $342.96 and its two-hundred day moving average price is $326.13. The company has a current ratio of 1.55, a quick ratio of 1.54 and a debt-to-equity ratio of 1.66. American Express Company has a 12-month low of $290.97 and a 12-month high of $387.49.
American Express Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Thursday, July 2nd were issued a $0.95 dividend. The ex-dividend date was Thursday, July 2nd. This represents a $3.80 annualized dividend and a yield of 1.1%. American Express’s dividend payout ratio (DPR) is 23.06%.
Analysts Set New Price Targets
Several analysts have issued reports on the stock. 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. Guggenheim assumed coverage on American Express in a report on Monday, July 13th. They issued a “buy” rating on the stock. HSBC boosted their target price on American Express from $312.00 to $329.00 and gave the company a “hold” rating in a research note on Monday, July 13th. UBS Group reduced their price target on American Express from $386.00 to $384.00 and set a “neutral” rating on the stock in a research report on Monday, August 3rd. Finally, Freedom Capital raised American Express from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $373.32.
Check Out Our Latest Stock Analysis on AXP
About American Express
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.
See Also
- Five stocks we like better than American Express
- Nutanix’s Rally Has a Bigger Story Than Earnings as AMD’s AI Bet Takes Shape
- SEC Probe Puts Wall Street Leverage Risk Back in Focus
- A Bearish-Dollar Options Surge Raises the Stakes for Warsh at Jackson Hole
- Five Below’s Turnaround Is Working—But Has the Stock Run Too Far?
Receive News & Ratings for American Express Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Express and related companies with MarketBeat.com's FREE daily email newsletter.
