Glenview Trust Co Buys 30,667 Shares of American Express Company $AXP

Key Points

• Glenview Trust Co increased its American Express stake by 170.1% in the first quarter, buying 30,667 additional shares and bringing its total holding to 48,695 shares worth about $14.7 million.
• Wall Street sentiment on American Express (NYSE:AXP) remains mixed but constructive, with a consensus rating of Moderate Buy and an average price target of $374.11.
• The company recently reported Q1 earnings of $4.28 per share, beating estimates, and it also announced a quarterly dividend of $0.95 per share, payable on August 10.

Glenview Trust Co lifted its stake in American Express Company (NYSE:AXP - Free Report) by 170.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,695 shares of the payment services company's stock after buying an additional 30,667 shares during the period. Glenview Trust Co's holdings in American Express were worth $14,729,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Keybank National Association OH grew its holdings in shares of American Express by 3.0% in the 4th quarter. Keybank National Association OH now owns 359,261 shares of the payment services company's stock worth $132,909,000 after purchasing an additional 10,495 shares during the last quarter. Swiss Life Asset Management Ltd increased its position 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 purchasing an additional 35,533 shares in the last quarter. Country Trust Bank lifted its holdings in American Express by 14.0% during the 4th quarter. Country Trust Bank now owns 121,774 shares of the payment services company's stock valued at $45,050,000 after purchasing an additional 14,931 shares during the last quarter. Thames Capital Management LLC lifted its holdings in American Express by 189.6% during the 4th quarter. Thames Capital Management LLC now owns 80,463 shares of the payment services company's stock valued at $29,767,000 after purchasing an additional 52,679 shares during the last quarter. Finally, Peapack Gladstone Financial Corp boosted 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 valued at $24,416,000 after buying an additional 3,855 shares in the last quarter. Institutional investors own 84.33% of the company's stock.

Wall Street Analyst Weigh In

AXP has been the topic of several research analyst reports. JPMorgan Chase & Co. raised shares of American Express from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $328.00 to $400.00 in a research note on Monday, July 13th. Royal Bank Of Canada cut shares of American Express from a "moderate buy" rating to a "hold" rating in a research note on Monday, July 13th. DZ Bank raised American Express from a "hold" rating to a "buy" rating and set a $375.00 target price on the stock in a report on Thursday, June 18th. Evercore started coverage on American Express in a research report on Monday, July 13th. They set a "neutral" rating on the stock. Finally, Truist Financial raised their price target on American Express from $360.00 to $375.00 and gave the company a "buy" rating in a report on Wednesday, June 24th. 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $374.11.

American Express Stock Down 1.0%

Shares of NYSE:AXP opened at $351.81 on Tuesday. The company has a quick ratio of 1.56, a current ratio of 1.57 and a debt-to-equity ratio of 1.73. The firm has a market cap of $240.05 billion, a P/E ratio of 21.95, a P/E/G ratio of 1.43 and a beta of 1.04. American Express Company has a 12 month low of $288.34 and a 12 month high of $387.49. The company's 50-day moving average price is $330.18 and its two-hundred day moving average price is $330.87.

American Express (NYSE:AXP - Get Free Report) last announced its earnings results on Thursday, April 23rd. The payment services company reported $4.28 earnings per share 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 company had revenue of $14.21 billion during the quarter, compared to the consensus estimate of $18.60 billion. During the same period in the previous year, the firm posted $3.64 earnings per share. The company's revenue was up 11.4% on a year-over-year basis. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. As a group, research analysts forecast that American Express Company will post 17.67 EPS for the current fiscal year.

American Express Dividend Announcement

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

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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