American Express Company $AXP Position Trimmed by Ibex Wealth Advisors

Key Points

• Ibex Wealth Advisors sharply reduced its American Express stake in Q1, cutting holdings by 81.7% and leaving it with 3,669 shares worth about $1.11 million.
• Several major institutions continue to build positions in AXP, including Norges Bank and Capital World Investors, and roughly 84.33% of the stock is owned by institutional investors and hedge funds.
• Analyst sentiment remains mixed but generally constructive: Bank of America raised its price target to $391 and kept a buy rating, while American Express also reported a quarterly earnings beat and announced a $0.95 dividend.

Ibex Wealth Advisors trimmed its holdings in shares of American Express Company (NYSE:AXP - Free Report) by 81.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,669 shares of the payment services company's stock after selling 16,360 shares during the period. Ibex Wealth Advisors' holdings in American Express were worth $1,110,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of AXP. Norges Bank bought a new stake in shares of American Express during the 4th quarter valued at about $2,464,215,000. Capital World Investors boosted its stake in American Express by 46.7% in the fourth quarter. Capital World Investors now owns 7,515,675 shares of the payment services company's stock valued at $2,780,424,000 after acquiring an additional 2,393,340 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of American Express by 27.0% during the third quarter. Ameriprise Financial Inc. now owns 3,970,416 shares of the payment services company's stock valued at $1,310,515,000 after purchasing an additional 845,283 shares during the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of American Express by 73.8% during the first quarter. Pictet Asset Management Holding SA now owns 1,451,606 shares of the payment services company's stock valued at $438,975,000 after purchasing an additional 616,498 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of American Express by 7.7% during the 4th quarter. Bank of America Corp DE now owns 7,850,298 shares of the payment services company's stock worth $2,904,218,000 after purchasing an additional 558,533 shares during the period. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express News Roundup

Here are the key news stories impacting American Express this week:

• Positive Sentiment: Bank of America raised its price target on American Express to $391 from $387 and kept a buy rating, signaling confidence in further upside from current levels.
• Positive Sentiment: American Express broke ground on its new global headquarters at 2 World Trade Center, a high-profile milestone that highlights long-term investment in the brand and its New York footprint. American Express Breaks Ground on New Headquarters at 2 World Trade Center
• Positive Sentiment: Several recent articles point to solid spending growth, rising revenues, and strong premium-customer positioning, which supports the view that AXP remains a quality long-term financial stock.
• Neutral Sentiment: Market commentary and options-market articles suggest traders are watching for a potential near-term move, but these pieces are more speculative than fundamental.
• Negative Sentiment: AXP was reported to have fallen more than the broader market in the prior session, reflecting some short-term volatility and profit-taking after its recent run-up.

Analyst Ratings Changes

AXP has been the topic of several recent research reports. Bank of America raised their price target on American Express from $387.00 to $391.00 and gave the stock a "buy" rating in a report on Thursday. Royal Bank Of Canada set a $415.00 target price on American Express in a research note on Friday, April 10th. The Goldman Sachs Group boosted their price target on shares of American Express from $360.00 to $400.00 and gave the company a "buy" rating in a report on Tuesday, April 28th. TD Cowen upped their price target on shares of American Express from $330.00 to $338.00 and gave the stock a "hold" rating in a research report on Tuesday. Finally, Weiss Ratings cut shares of American Express from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, American Express presently has a consensus rating of "Hold" and a consensus target price of $368.70.

American Express Trading Up 3.0%

NYSE:AXP opened at $346.34 on Friday. The stock has a market cap of $236.32 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 1.39 and a beta of 1.04. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.56 and a current ratio of 1.57. American Express Company has a 1 year low of $288.34 and a 1 year high of $387.49. The business has a fifty day moving average of $324.91 and a 200-day moving average of $332.08.

American Express (NYSE:AXP - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The payment services company reported $4.28 earnings per share for the quarter, beating analysts' consensus estimates of $4.01 by $0.27. The business had revenue of $14.21 billion for the quarter, compared to analysts' expectations of $18.60 billion. American Express had a net margin of 15.13% and a return on equity of 33.95%. The company's revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the business earned $3.64 earnings per share. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. Equities analysts predict that American Express Company will post 17.66 earnings per share for the current year.

American Express Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Thursday, July 2nd will be paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, July 2nd. American Express's payout ratio is currently 23.71%.

American Express 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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