First Manhattan CO. LLC. Cuts Stock Position in American Express Company $AXP

Key Points

• First Manhattan CO. LLC trimmed its stake in American Express by 1.9% in the fourth quarter, selling 9,268 shares and ending with 479,895 shares valued at about $177.5 million.
• Other large institutional investors mostly added to their positions, and hedge funds and institutions now own about 84.33% of American Express shares.
• American Express recently posted strong quarterly EPS of $4.28, beat estimates, and raised its full-year guidance, but analyst sentiment remains mixed with BTIG reiterating a sell rating and a $285 target.

First Manhattan CO. LLC. lessened its stake in American Express Company (NYSE:AXP - Free Report) by 1.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 479,895 shares of the payment services company's stock after selling 9,268 shares during the quarter. First Manhattan CO. LLC. owned approximately 0.07% of American Express worth $177,537,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. State Street Corp increased its holdings in American Express by 1.3% in the 4th 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 in the last quarter. Fisher Asset Management LLC increased its holdings in American Express by 1.6% in the 4th 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 in the last quarter. Bank of America Corp DE increased its holdings in American Express by 7.7% in the 4th quarter. Bank of America Corp DE now owns 7,850,298 shares of the payment services company's stock worth $2,904,218,000 after acquiring an additional 558,533 shares in the last quarter. Capital World Investors increased its holdings in American Express by 46.7% in the 4th 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. Finally, Norges Bank purchased a new stake in American Express in the 4th quarter worth $2,464,215,000. Hedge funds and other institutional investors own 84.33% of the company's stock.

Trending Headlines about American Express

Here are the key news stories impacting American Express this week:

• Positive Sentiment: American Express agreed to buy Tripadvisor’s TheFork platform for about $700 million in cash, expanding its European dining network and potentially making its premium card offerings more attractive to customers. TheFork Joins AmEx's Growing Global Dining Network in $700M Deal
• Positive Sentiment: Several reports noted that the TheFork deal could be viewed as value-creating and supportive of American Express’s long-term growth strategy, reinforcing its push into dining and experiences. TheFork Joins AmEx's Growing Global Dining Network in $700M Deal
• Neutral Sentiment: Analyst commentary remains mixed, with some firms highlighting American Express as an attractive value/growth name while others continue to recommend caution, creating an uneven sentiment backdrop for the shares. Analysts Have Conflicting Sentiments on These Financial Companies: Progressive (PGR) and American Express (AXP)
• Neutral Sentiment: BTIG reiterated a sell rating and a $285 price target, which suggests some downside risk and may temper enthusiasm around the recent gains. Benzinga report on BTIG rating

American Express Price Performance

American Express stock opened at $340.25 on Thursday. American Express Company has a 52-week low of $288.34 and a 52-week high of $387.49. The firm has a market capitalization of $232.16 billion, a price-to-earnings ratio of 21.23, a PEG ratio of 1.38 and a beta of 1.06. The company has a fifty day simple moving average of $318.05 and a 200-day simple moving average of $335.33. The company has a quick ratio of 1.56, a current ratio of 1.57 and a debt-to-equity ratio of 1.73.

American Express (NYSE:AXP - Get Free Report) last released its earnings results on Thursday, April 23rd. The payment services company reported $4.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.01 by $0.27. American Express had a net margin of 15.13% and a return on equity of 33.95%. The business had revenue of $14.22 billion during the quarter, compared to analyst estimates of $18.60 billion. During the same quarter in the prior year, the firm earned $3.64 earnings per share. The company's revenue for the quarter was up 11.4% compared to the same quarter last year. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. On average, equities analysts anticipate that American Express Company will post 17.6 EPS for the current fiscal year.

American Express Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Thursday, July 2nd will be given a dividend of $0.95 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $3.80 annualized dividend and a dividend yield of 1.1%. American Express's payout ratio is presently 23.71%.

Analyst Ratings Changes

AXP has been the subject of several recent analyst reports. Evercore set a $345.00 price target on shares of American Express in a report on Wednesday, April 29th. Freedom Capital raised shares of American Express from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 14th. JPMorgan Chase & Co. dropped their target price on shares of American Express from $375.00 to $325.00 and set a "neutral" rating for the company in a report on Thursday, April 9th. Truist Financial dropped their target price on shares of American Express from $400.00 to $360.00 and set a "buy" rating for the company in a report on Monday, March 23rd. Finally, The Goldman Sachs Group upped their target price on shares of American Express from $360.00 to $400.00 and gave the stock a "buy" rating in a report on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, American Express currently has an average rating of "Hold" and a consensus target price of $359.05.

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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