BlackRock Inc. bought a new stake in shares of American Express Company (NYSE:AXP) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 42,006,392 shares of the payment services company's stock, valued at approximately $14,208,662,000. BlackRock Inc. owned about 6.22% of American Express as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of AXP. Evolution Wealth Management Inc. boosted its holdings in American Express by 6,600.0% during the 4th quarter. Evolution Wealth Management Inc. now owns 67 shares of the payment services company's stock valued at $25,000 after acquiring an additional 66 shares during the period. Joseph Group Capital Management bought a new position in American Express in the 4th quarter valued at $26,000. Sfam LLC purchased a new stake in American Express in the fourth quarter worth $26,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of American Express during the fourth quarter worth $28,000. Finally, Wilkerson Advisory Group LLC bought a new stake in shares of American Express during the fourth quarter worth $29,000. 84.33% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
AXP has been the topic of a number of research analyst reports. Bank of America upped their price target on shares of American Express from $387.00 to $391.00 and gave the stock a "buy" rating in a report on Thursday, July 9th. Morgan Stanley decreased their price objective on shares of American Express from $385.00 to $382.00 and set an "equal weight" rating for the company in a report on Monday, July 27th. Royal Bank Of Canada cut shares of American Express from a "moderate buy" rating to a "hold" rating in a research report on Monday, July 13th. Freedom Capital upgraded shares of American Express from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 14th. Finally, UBS Group reduced their target price on shares of American Express from $386.00 to $384.00 and set a "neutral" rating on the stock in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, American Express currently has a consensus rating of "Moderate Buy" and an average price target of $373.32.
Check Out Our Latest Stock Report on AXP
American Express Stock Performance
Shares of American Express stock opened at $336.50 on Tuesday. 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 stock's fifty day moving average price is $341.81 and its 200-day moving average price is $327.17. The firm has a market cap of $227.24 billion, a P/E ratio of 20.42, a P/E/G ratio of 1.38 and a beta of 1.04. American Express Company has a 12 month low of $290.97 and a 12 month high of $387.49.
American Express (NYSE:AXP - Get Free Report) last released its quarterly earnings data on Friday, July 24th. The payment services company reported $4.53 earnings per share 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 company had revenue of $14.99 billion during the quarter, compared to analyst estimates of $19.70 billion. During the same period in the prior year, the firm earned $4.08 earnings per share. The firm's revenue for the quarter was up 10.0% compared to the same quarter last year. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. On average, equities research analysts expect that American Express Company will post 17.67 earnings per share for the current fiscal 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 given a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Thursday, July 2nd. American Express's dividend payout ratio is presently 23.06%.
About American Express
(
Free Report)
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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