CX Institutional Cuts Holdings in American Express Company $AXP

Key Points

• CX Institutional cut its American Express stake by 36.8% in the third quarter, selling 14,637 shares and retaining 25,173 shares valued at approximately $8.07 million.
• Institutional investors own 84.33% of AXP, while analyst sentiment remains mixed: the stock has a consensus “Hold” rating and an average price target of $366.96.
• American Express reported quarterly EPS of $4.53, ahead of estimates, with revenue up 10% year over year. The company also declared a quarterly dividend of $0.95 per share, representing a 1.3% annualized yield.

CX Institutional decreased its position in shares of American Express Company (NYSE:AXP - Free Report) by 36.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,173 shares of the payment services company's stock after selling 14,637 shares during the period. CX Institutional's holdings in American Express were worth $8,068,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in AXP. Evolution Wealth Management Inc. raised its holdings in shares of American Express by 6,600.0% in the fourth quarter. Evolution Wealth Management Inc. now owns 67 shares of the payment services company's stock worth $25,000 after buying an additional 66 shares during the period. Archer Investment Corp purchased a new stake in American Express in the second quarter worth $25,000. Frazier Financial Advisors LLC lifted its position in shares of American Express by 66.7% during the first quarter. Frazier Financial Advisors LLC now owns 100 shares of the payment services company's stock worth $30,000 after purchasing an additional 40 shares during the last quarter. Whipplewood Advisors LLC boosted its stake in shares of American Express by 2,550.0% during the first quarter. Whipplewood Advisors LLC now owns 106 shares of the payment services company's stock valued at $32,000 after purchasing an additional 102 shares during the period. Finally, Cedar Mountain Advisors LLC lifted its holdings in American Express by 58.3% during the 2nd quarter. Cedar Mountain Advisors LLC now owns 95 shares of the payment services company's stock valued at $32,000 after buying an additional 35 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on AXP shares. TD Cowen raised their price target on shares of American Express from $330.00 to $338.00 and gave the company a "hold" rating in a report on Tuesday, July 7th. President Capital increased their target price on shares of American Express from $359.00 to $400.00 and gave the company a "buy" rating in a research report on Wednesday, August 19th. Loop Capital lowered their target price on shares of American Express from $389.00 to $386.00 and set a "buy" rating for the company in a research note on Monday, July 27th. HSBC lifted their price target on shares of American Express from $312.00 to $329.00 and gave the stock a "hold" rating in a report on Monday, July 13th. Finally, UBS Group decreased their price objective on American Express from $386.00 to $384.00 and set a "neutral" rating for the company in a report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $366.96.

American Express Stock Performance

Shares of American Express stock traded up $0.67 during midday trading on Friday, hitting $302.76. The company had a trading volume of 2,637,918 shares, compared to its average volume of 3,246,236. The company has a fifty day simple moving average of $327.94 and a 200 day simple moving average of $324.71. The stock has a market cap of $204.46 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 1.29 and a beta of 1.08. The company has a quick ratio of 1.54, a current ratio of 1.55 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 (NYSE:AXP - Get Free Report) last released its earnings results on Friday, July 24th. The payment services company reported $4.53 earnings per share 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 company had revenue of $14.99 billion for the quarter, compared to the consensus estimate of $19.70 billion. During the same quarter in the previous year, the firm earned $4.08 EPS. American Express's revenue 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. As a group, analysts predict that American Express Company will post 17.68 earnings per share for the current fiscal year.

American Express Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 10th. Stockholders of record on Friday, October 9th will be issued a dividend of $0.95 per share. The ex-dividend date of this dividend is Friday, October 9th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.3%. American Express's payout ratio is 23.06%.

American Express Profile

American Express Company NYSE: AXP is a global financial services company that provides payment, lending, travel and related products to consumers, small businesses and corporate customers. Its offerings include consumer and business charge and credit cards, payment solutions, commercial financing, deposit products and rewards programs.

American Express also operates a worldwide merchant network and provides businesses with payment acceptance services, transaction-processing capabilities and data-driven marketing solutions.

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