Ally Financial Inc. Purchases Shares of 7,000 American Express Company $AXP

Ally Financial Inc. purchased a new stake in American Express Company (NYSE:AXP) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 7,000 shares of the payment services company's stock, valued at approximately $2,368,000.

Several other large investors also recently made changes to their positions in AXP. Brighton Jones LLC raised its position in American Express by 24.4% during the fourth quarter. Brighton Jones LLC now owns 6,481 shares of the payment services company's stock valued at $1,924,000 after buying an additional 1,273 shares during the period. Sivia Capital Partners LLC boosted its position in American Express by 13.0% during the second quarter. Sivia Capital Partners LLC now owns 1,738 shares of the payment services company's stock valued at $554,000 after purchasing an additional 200 shares during the last quarter. Schnieders Capital Management LLC. purchased a new position in American Express in the second quarter valued at about $428,000. Howland Capital Management LLC increased its position in American Express by 4.2% in the 2nd quarter. Howland Capital Management LLC now owns 2,216 shares of the payment services company's stock worth $707,000 after purchasing an additional 90 shares during the last quarter. Finally, HUB Investment Partners LLC increased its position in American Express by 19.9% in the 2nd quarter. HUB Investment Partners LLC now owns 2,898 shares of the payment services company's stock worth $924,000 after purchasing an additional 481 shares during the last quarter. Institutional investors own 84.33% of the company's stock.

American Express Price Performance

NYSE AXP opened at $336.00 on Monday. The company has a current ratio of 1.55, a quick ratio of 1.54 and a debt-to-equity ratio of 1.66. The company has a fifty day simple moving average of $343.19 and a 200 day simple moving average of $326.65. The company has a market cap 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 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 announced its earnings results on Friday, July 24th. The payment services company reported $4.53 EPS for the quarter, topping the consensus estimate of $4.41 by $0.12. American Express had a net margin of 15.07% and a return on equity of 34.12%. The firm had revenue of $19.64 billion for the quarter, compared to the consensus estimate of $19.70 billion. During the same quarter last year, the firm posted $4.08 EPS. The business's quarterly 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, sell-side analysts predict that American Express Company will post 17.67 EPS for the current year.

American Express Dividend Announcement

The firm also recently declared 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. The ex-dividend date was Thursday, July 2nd. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.1%. American Express's payout ratio is 23.06%.

Analysts Set New Price Targets

A number of equities analysts recently commented on AXP shares. BTIG Research dropped their price objective on American Express from $324.00 to $315.00 and set a "sell" rating on the stock in a report on Monday, July 27th. Morgan Stanley reduced their target price on shares of American Express from $385.00 to $382.00 and set an "equal weight" rating for the company in a research note on Monday, July 27th. Loop Capital began coverage on shares of American Express in a research report on Thursday, May 21st. They issued a "buy" rating and a $389.00 target price for the company. TD Cowen increased their price target on shares of American Express from $330.00 to $338.00 and gave the stock a "hold" rating in a research note on Tuesday, July 7th. Finally, HSBC raised their target price on American Express from $312.00 to $329.00 and gave the company a "hold" rating in a report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $373.32.

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.

Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express Company (NYSE:AXP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source