Glenview Trust Co Buys 10,051 Shares of American Express Company $AXP

Key Points

• Glenview Trust Co. increased its American Express stake by 20.6% in the second quarter, purchasing 10,051 additional shares and bringing its holdings to 58,746 shares valued at approximately $19.9 million.
• Institutional ownership remains high at 84.33%, with several other investment firms also adding new or expanded positions in American Express.
• American Express exceeded quarterly EPS expectations, reporting $4.53 versus the $4.41 consensus estimate, while revenue rose 10% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $373.32.

Glenview Trust Co raised its stake in shares of American Express Company (NYSE:AXP) by 20.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 58,746 shares of the payment services company's stock after buying an additional 10,051 shares during the quarter. Glenview Trust Co's holdings in American Express were worth $19,871,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Flputnam Investment Management Co. purchased a new position in American Express in the 2nd quarter worth approximately $12,879,000. Evolve Private Wealth LLC purchased a new stake in shares of American Express during the 2nd quarter valued at $5,172,000. Swiss Life Asset Management Ltd lifted its holdings in shares of American Express by 34.1% during the 4th quarter. Swiss Life Asset Management Ltd now owns 139,887 shares of the payment services company's stock worth $51,751,000 after acquiring an additional 35,533 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new stake in shares of American Express during the 2nd quarter worth $11,642,000. Finally, Peapack Gladstone Financial Corp grew its position in American Express by 6.2% in the fourth quarter. Peapack Gladstone Financial Corp now owns 65,997 shares of the payment services company's stock worth $24,416,000 after acquiring an additional 3,855 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors.

American Express Stock Performance

American Express stock opened at $334.03 on Friday. The company has a quick ratio of 1.54, a current ratio of 1.55 and a debt-to-equity ratio of 1.66. The company has a market capitalization of $225.57 billion, a PE ratio of 20.27, a P/E/G ratio of 1.36 and a beta of 1.04. The firm has a fifty day simple moving average of $342.96 and a two-hundred day simple moving average of $326.13. American Express Company has a twelve month low of $290.97 and a twelve month high of $387.49.

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, beating the consensus estimate of $4.41 by $0.12. The business had revenue of $19.64 billion during the quarter, compared to analyst estimates of $19.70 billion. American Express had a net margin of 15.07% and a return on equity of 34.12%. The company's revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the business posted $4.08 earnings per share. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. Research analysts expect that American Express Company will post 17.67 EPS for the current year.

American Express Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Thursday, July 2nd were given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 1.1%. The ex-dividend date was Thursday, July 2nd. American Express's dividend payout ratio (DPR) is presently 23.06%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. UBS Group lowered their price target on American Express from $386.00 to $384.00 and set a "neutral" rating on the stock in a research report on Monday, August 3rd. Barclays upped their price objective on American Express from $322.00 to $364.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 7th. BTIG Research decreased their price objective on American Express from $324.00 to $315.00 and set a "sell" rating on the stock in a report on Monday, July 27th. Evercore set a $370.00 price objective on American Express in a report on Monday, July 27th. Finally, DZ Bank raised American Express from a "hold" rating to a "buy" rating and set a $375.00 target price for the company in a research note on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $373.32.

About American Express

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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