Envestnet Portfolio Solutions Inc. Buys 10,781 Shares of American Express Company $AXP

Key Points

• Envestnet Portfolio Solutions increased its American Express stake by 49.8% in the second quarter, adding 10,781 shares for a total holding of 32,440 shares valued at approximately $10.97 million.
• Institutional ownership remains substantial at 84.33%, with State Street, Envestnet Asset Management and other investors also increasing their positions in AXP.
• American Express exceeded quarterly EPS expectations with $4.53 versus $4.41 forecast, while revenue rose 10% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $373.05.

Envestnet Portfolio Solutions Inc. lifted its position in American Express Company (NYSE:AXP) by 49.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,440 shares of the payment services company's stock after buying an additional 10,781 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in American Express were worth $10,973,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AXP. Envestnet Asset Management Inc. raised its position in shares of American Express by 62.9% in the second quarter. Envestnet Asset Management Inc. now owns 1,219,787 shares of the payment services company's stock valued at $412,593,000 after purchasing an additional 470,791 shares during the period. State Street Corp boosted its holdings in shares of American Express by 40.2% during the 2nd 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. Silicon Valley Capital Partners grew its stake in American Express by 14.9% in the 2nd quarter. Silicon Valley Capital Partners now owns 41,480 shares of the payment services company's stock valued at $14,030,000 after buying an additional 5,365 shares during the last quarter. Security National Bank of Sioux City Iowa IA acquired a new position in American Express in the 2nd quarter valued at about $96,000. Finally, Reynders McVeigh Capital Management LLC raised its holdings in American Express by 1,439.5% in the 2nd quarter. Reynders McVeigh Capital Management LLC now owns 58,210 shares of the payment services company's stock valued at $19,690,000 after acquiring an additional 54,429 shares during the period. 84.33% of the stock is currently owned by institutional investors and hedge funds.

American Express Price Performance

Shares of NYSE:AXP opened at $301.56 on Thursday. The firm has a 50 day moving average of $333.49 and a 200-day moving average of $324.61. American Express Company has a 12 month low of $290.97 and a 12 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 market capitalization of $203.65 billion, a PE ratio of 18.30, a PEG ratio of 1.30 and a beta of 1.05.

American Express (NYSE:AXP - Get Free Report) last posted its quarterly 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 business had revenue of $14.99 billion for the quarter, compared to analyst estimates of $19.70 billion. During the same quarter last year, the business posted $4.08 EPS. The firm's revenue for the quarter 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, equities research analysts predict that American Express Company will post 17.67 EPS for the current fiscal year.

Analyst Ratings Changes

AXP has been the subject of several research reports. HSBC raised their price objective on shares of American Express from $312.00 to $329.00 and gave the stock a "hold" rating in a research report on Monday, July 13th. Truist Financial lowered their target price on American Express from $375.00 to $370.00 and set a "buy" rating on the stock in a research note on Wednesday. Benchmark initiated coverage on American Express in a report on Monday, July 13th. They set a "buy" rating for the company. Bank of America boosted their price target on American Express from $387.00 to $391.00 and gave the company a "buy" rating in a research note on Thursday, July 9th. Finally, TD Cowen increased their price objective on American Express from $330.00 to $338.00 and gave the stock a "hold" rating in a research report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, American Express currently has a consensus rating of "Moderate Buy" and an average price target of $373.05.

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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