Connor Clark & Lunn Investment Management Ltd. Acquires New Stake in American Express Company $AXP

Key Points

• Connor Clark & Lunn Investment Management acquired 452,876 American Express shares worth approximately $153.2 million, representing about 0.07% of the company. Institutional investors collectively own 84.33% of AXP.
• Analyst sentiment remains favorable, with MarketBeat assigning American Express a consensus rating of “Moderate Buy” and an average price target of $373.32.
• American Express reported quarterly EPS of $4.53, exceeding estimates of $4.41, while revenue rose 10% year over year to $19.64 billion. The company also pays a quarterly dividend of $0.95, or $3.80 annually, yielding about 1.1%.

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of American Express Company (NYSE:AXP - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 452,876 shares of the payment services company's stock, valued at approximately $153,185,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.07% of American Express at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of American Express in the 2nd quarter worth $14,208,662,000. Norges Bank bought a new position in American Express during the fourth quarter valued at about $2,464,215,000. Bank of New York Mellon Corp acquired a new position in American Express during the second quarter worth about $1,263,787,000. Deutsche Bank AG acquired a new position in American Express during the second quarter worth about $927,950,000. Finally, Capital World Investors raised its position 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 worth $2,780,424,000 after acquiring an additional 2,393,340 shares in the last quarter. 84.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

AXP has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised shares of American Express from a "neutral" rating to an "overweight" rating and upped their price target for the company from $328.00 to $400.00 in a report on Monday, July 13th. Benchmark initiated coverage on shares of American Express in a research note on Monday, July 13th. They issued a "buy" rating on the stock. UBS Group dropped their target price on shares of American Express from $386.00 to $384.00 and set a "neutral" rating on the stock in a report on Monday, August 3rd. Truist Financial raised their target price on shares of American Express from $360.00 to $375.00 and gave the stock a "buy" rating in a report on Wednesday, June 24th. Finally, Guggenheim initiated coverage on American Express in a research note on Monday, July 13th. They set a "buy" rating for the company. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, American Express has an average rating of "Moderate Buy" and a consensus price target of $373.32.

American Express Stock Performance

Shares of NYSE AXP opened at $336.00 on Monday. American Express Company has a one year low of $290.97 and a one year high of $387.49. The firm has a market capitalization of $226.90 billion, a PE ratio of 20.39, a PEG ratio of 1.36 and a beta of 1.04. 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 business has a 50-day moving average price of $343.19 and a two-hundred day moving average price of $326.65.

American Express (NYSE:AXP - Get Free Report) last issued its earnings results on Friday, July 24th. The payment services company reported $4.53 earnings per share for the quarter, beating analysts' consensus estimates of $4.41 by $0.12. The company had revenue of $19.64 billion for the quarter, compared to the consensus estimate of $19.70 billion. American Express had a return on equity of 34.12% and a net margin of 15.07%.The firm's quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.08 EPS. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. As a group, analysts predict that American Express Company will post 17.67 earnings per share for the current fiscal year.

American Express Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Thursday, July 2nd were paid a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 1.1%. The ex-dividend date was Thursday, July 2nd. American Express's dividend payout ratio is currently 23.06%.

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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