Evolve Private Wealth LLC Invests $5.17 Million in American Express Company $AXP

Evolve Private Wealth LLC purchased a new stake in American Express Company (NYSE:AXP - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 15,292 shares of the payment services company's stock, valued at approximately $5,172,000.

Several other hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in American Express in the 2nd quarter valued at about $14,208,662,000. State Street Corp lifted its position in American Express by 1.3% during the fourth quarter. State Street Corp now owns 29,464,868 shares of the payment services company's stock worth $10,900,528,000 after acquiring an additional 369,967 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of American Express by 1.6% during the fourth quarter. Fisher Asset Management LLC now owns 9,023,482 shares of the payment services company's stock worth $3,338,238,000 after acquiring an additional 141,936 shares during the period. Bank of America Corp DE grew its position in shares of American Express by 7.7% in the fourth quarter. Bank of America Corp DE now owns 7,850,298 shares of the payment services company's stock valued at $2,904,218,000 after purchasing an additional 558,533 shares during the last quarter. Finally, Capital World Investors grew its position in shares of 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 valued at $2,780,424,000 after purchasing an additional 2,393,340 shares during the last quarter. Institutional investors and hedge funds own 84.33% of the company's stock.

Wall Street Analyst Weigh In

AXP has been the topic of several research reports. Morgan Stanley decreased their price target on shares of American Express from $385.00 to $382.00 and set an "equal weight" rating on the stock in a research note on Monday, July 27th. Evercore set a $370.00 target price on shares of American Express in a report on Monday, July 27th. DZ Bank upgraded shares of American Express from a "hold" rating to a "buy" rating and set a $375.00 price target for the company in a research report on Thursday, June 18th. Barclays boosted their price target on American Express from $322.00 to $364.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 7th. Finally, Jefferies Financial Group upgraded American Express from a "hold" rating to a "buy" rating in a research note on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, American Express presently has a consensus rating of "Moderate Buy" and a consensus target price of $373.32.

American Express Stock Up 1.5%

Shares of AXP opened at $336.00 on Friday. The stock's 50-day moving average price is $343.19 and its two-hundred day moving average price is $326.83. 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 company 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. 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, beating 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 business had revenue of $19.64 billion during the quarter, compared to the consensus estimate of $19.70 billion. During the same quarter in the prior year, the firm posted $4.08 EPS. The company'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, analysts anticipate that American Express Company will post 17.67 EPS for the current year.

American Express Announces Dividend

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