Envestnet Asset Management Inc. Increases Stock Holdings in American Express Company $AXP

Key Points

• Envestnet Asset Management increased its American Express stake by 62.9% in the second quarter, acquiring 470,791 additional shares for a total of 1.22 million shares valued at approximately $412.6 million.
• Institutional ownership remains substantial at 84.33%, with BlackRock, State Street, Norges Bank and other major investors adding significant positions in AXP.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $373.05. American Express also exceeded quarterly EPS estimates, reporting $4.53 versus the $4.41 consensus.

Envestnet Asset Management Inc. increased its stake in shares of American Express Company (NYSE:AXP) by 62.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,219,787 shares of the payment services company's stock after purchasing an additional 470,791 shares during the quarter. Envestnet Asset Management Inc. owned 0.18% of American Express worth $412,593,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AXP. BlackRock Inc. bought a new stake in American Express in the second quarter worth about $14,208,662,000. State Street Corp raised its holdings in shares of American Express by 40.2% in the second quarter. State Street Corp now owns 40,967,262 shares of the payment services company's stock worth $13,857,176,000 after buying an additional 11,739,541 shares during the period. Norges Bank bought a new stake in shares of American Express during the 4th quarter worth approximately $2,464,215,000. Corient Private Wealth LP bought a new stake in shares of American Express during the 2nd quarter worth approximately $253,945,000. Finally, Bank of New York Mellon Corp purchased a new position in American Express during the 2nd quarter valued at $1,263,787,000. 84.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on AXP shares. Royal Bank Of Canada downgraded American Express from a "moderate buy" rating to a "hold" rating in a research report on Monday, July 13th. Guggenheim began coverage on shares of American Express in a research note on Monday, July 13th. They set a "buy" rating for the company. 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. Jefferies Financial Group upgraded shares of American Express from a "hold" rating to a "buy" rating in a report on Monday, July 13th. Finally, Piper Sandler boosted their price objective on shares of American Express from $396.00 to $405.00 and gave the company an "overweight" rating in a research report on Wednesday, August 12th. One investment 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 given a Sell rating to the company's stock. According to data from MarketBeat.com, American Express currently has an average rating of "Moderate Buy" and a consensus target price of $373.05.

American Express Price Performance

Shares of AXP stock opened at $301.56 on Thursday. American Express Company has a twelve month low of $290.97 and a twelve month high of $387.49. 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 has a fifty day simple moving average of $333.49 and a two-hundred day simple moving average of $324.61. The stock has a market capitalization of $203.65 billion, a price-to-earnings ratio of 18.30, a P/E/G ratio of 1.30 and a beta of 1.05.

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 (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 company had revenue of $14.99 billion for the quarter, compared to analysts' expectations of $19.70 billion. During the same period in the prior year, the business earned $4.08 EPS. The firm'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, analysts predict that American Express Company will post 17.67 EPS for the current fiscal year.

American Express Profile

American Express Company is a global payments and financial services company that provides payment products, services and experiences to consumers, businesses and institutions. Its offerings include credit and charge cards, consumer and commercial payment solutions, business financing, deposit products and expense-management tools.

The company also operates a global payments network connecting cardmembers, merchants and financial institutions. Through its merchant services business, American Express supports payment acceptance and provides data-driven marketing and customer-engagement solutions.

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