K.J. Harrison & Partners Inc Invests $1.04 Million in American Express Company $AXP

Key Points

• K.J. Harrison & Partners initiated a $1.04 million position in American Express during the second quarter, while institutional investors and hedge funds collectively own 84.33% of the stock.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $373.32; recent targets range from $375 to $405.
• American Express beat quarterly EPS estimates with $4.53 versus $4.41 expected, while revenue rose 10% year over year. The company also declared a $0.95 quarterly dividend, representing a 1.1% yield.

K.J. Harrison & Partners Inc bought a new position in shares of American Express Company (NYSE:AXP - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,072 shares of the payment services company's stock, valued at approximately $1,039,000.

A number of other large investors also recently bought and sold shares of AXP. Flputnam Investment Management Co. acquired a new position in American Express in the 2nd quarter worth about $12,879,000. Keybank National Association OH grew its holdings in American Express by 3.0% in the fourth quarter. Keybank National Association OH now owns 359,261 shares of the payment services company's stock valued at $132,909,000 after purchasing an additional 10,495 shares during the period. Swiss Life Asset Management Ltd increased its position in shares of American Express by 34.1% in the fourth quarter. Swiss Life Asset Management Ltd now owns 139,887 shares of the payment services company's stock valued at $51,751,000 after buying an additional 35,533 shares in the last quarter. Peapack Gladstone Financial Corp raised its stake in shares of American Express by 6.2% during the 4th quarter. Peapack Gladstone Financial Corp now owns 65,997 shares of the payment services company's stock worth $24,416,000 after buying an additional 3,855 shares during the period. Finally, Thames Capital Management LLC raised its stake in shares of 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 worth $29,767,000 after buying an additional 52,679 shares during the period. 84.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Loop Capital assumed coverage on shares of American Express in a research note on Thursday, May 21st. They issued a "buy" rating and a $389.00 price target on the stock. Truist Financial lifted their target price on shares of American Express from $360.00 to $375.00 and gave the company a "buy" rating in a research report on Wednesday, June 24th. DZ Bank raised shares of 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. Morgan Stanley reduced their price target on shares of American Express from $385.00 to $382.00 and set an "equal weight" rating for the company in a research report on Monday, July 27th. Finally, Piper Sandler raised their price target on shares of American Express from $396.00 to $405.00 and gave the company an "overweight" rating in a research note on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $373.32.

American Express Stock Down 1.7%

NYSE AXP opened at $336.50 on Tuesday. The business has a fifty day moving average price of $341.81 and a 200 day moving average price of $327.17. American Express Company has a one year low of $290.97 and a one year high of $387.49. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.54 and a current ratio of 1.55. The company has a market cap of $227.24 billion, a P/E ratio of 20.42, a P/E/G ratio of 1.38 and a beta of 1.04.

American Express (NYSE:AXP - Get Free Report) last announced its 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 company had revenue of $14.99 billion for the quarter, compared to analysts' expectations of $19.70 billion. During the same quarter in the previous year, the company posted $4.08 EPS. The firm's quarterly revenue was up 10.0% on a year-over-year basis. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. Research analysts anticipate that American Express Company will post 17.67 EPS for the current fiscal year.

American Express Announces Dividend

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

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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