Long Corridor Asset Management Ltd Takes $21.31 Million Position in American Express Company $AXP

Key Points

• Long Corridor Asset Management acquired 63,000 American Express shares worth approximately $21.31 million, making AXP its fourth-largest holding and representing 6.4% of its portfolio.
• Institutional ownership remains high at 84.33%, with major investors including BlackRock, State Street, Fisher Asset Management, Bank of America, and Capital World Investors increasing or initiating positions.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $373.32. American Express recently exceeded quarterly EPS estimates, reported 10% year-over-year revenue growth, and pays an annualized dividend of $3.80 per share.

Long Corridor Asset Management Ltd purchased a new position in American Express Company (NYSE:AXP) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 63,000 shares of the payment services company's stock, valued at approximately $21,310,000. American Express comprises approximately 6.4% of Long Corridor Asset Management Ltd's investment portfolio, making the stock its 4th largest position.

A number of other institutional investors have also made changes to their positions in the stock. BlackRock Inc. acquired a new position in American Express in the second quarter valued at about $14,208,662,000. State Street Corp grew its position in shares of American Express by 1.3% during 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 buying an additional 369,967 shares during the period. Fisher Asset Management LLC grew its position in shares of American Express by 1.6% during 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 buying an additional 141,936 shares during the period. Bank of America Corp DE increased its stake in shares of 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 valued at $2,904,218,000 after acquiring an additional 558,533 shares during the last quarter. Finally, Capital World Investors increased its stake in shares of 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 valued at $2,780,424,000 after acquiring an additional 2,393,340 shares during the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AXP has been the topic of several recent analyst reports. UBS Group reduced their price objective on shares of American Express from $386.00 to $384.00 and set a "neutral" rating on the stock in a research note on Monday, August 3rd. Truist Financial upped their target price on shares of American Express from $360.00 to $375.00 and gave the company a "buy" rating in a research note on Wednesday, June 24th. Royal Bank Of Canada lowered shares of American Express from a "moderate buy" rating to a "hold" rating in a report on Monday, July 13th. TD Cowen lifted their price target on shares of American Express from $330.00 to $338.00 and gave the stock a "hold" rating in a research report on Tuesday, July 7th. Finally, The Goldman Sachs Group boosted their price target on shares of American Express from $360.00 to $400.00 and gave the company a "buy" rating in a report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $373.32.

American Express Price Performance

NYSE AXP opened at $336.00 on Friday. The business has a 50 day simple moving average of $343.19 and a 200 day simple moving average of $326.83. American Express Company has a 52-week low of $290.97 and a 52-week 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 stock has a market cap of $226.90 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 1.34 and a beta of 1.04.

American Express (NYSE:AXP - Get Free Report) last announced its quarterly 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. The firm had revenue of $19.64 billion for 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 business's revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.08 earnings per share. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. Analysts anticipate that American Express Company will post 17.67 earnings per share for the current fiscal year.

American Express Announces Dividend

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