NewEdge Wealth LLC Cuts Stock Position in American Express Company $AXP

Key Points

• NewEdge Wealth LLC cut its American Express stake by 40.6% in the first quarter, selling 16,061 shares and leaving it with 23,497 shares worth about $7.1 million.
• Several other institutional investors adjusted their positions in AXP, and hedge funds and other institutions now own 84.33% of the company’s shares.
• American Express has been in focus ahead of Q2 earnings, with analysts maintaining a mixed but generally positive outlook, a consensus Moderate Buy rating, and a price target of $374.11.

NewEdge Wealth LLC trimmed its position in shares of American Express Company (NYSE:AXP - Free Report) by 40.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,497 shares of the payment services company's stock after selling 16,061 shares during the period. NewEdge Wealth LLC's holdings in American Express were worth $7,107,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of AXP. First Trust Advisors LP lifted its holdings in shares of American Express by 11.0% in the 1st quarter. First Trust Advisors LP now owns 1,421,221 shares of the payment services company's stock worth $429,891,000 after acquiring an additional 141,242 shares during the last quarter. a16z Perennial Management L.P. grew its holdings in shares of American Express by 17,113.6% during the 1st quarter. a16z Perennial Management L.P. now owns 116,708 shares of the payment services company's stock valued at $35,302,000 after purchasing an additional 116,030 shares during the last quarter. Oslo Pensjonsforsikring AS purchased a new position in American Express in the 1st quarter worth $657,000. Mathes Company Inc. raised its position in American Express by 3.8% in the 1st quarter. Mathes Company Inc. now owns 15,285 shares of the payment services company's stock worth $4,623,000 after purchasing an additional 562 shares during the period. Finally, Andra AP fonden lifted its stake in American Express by 33.3% in the first quarter. Andra AP fonden now owns 89,320 shares of the payment services company's stock worth $27,018,000 after purchasing an additional 22,320 shares during the last quarter. Hedge funds and other institutional investors own 84.33% of the company's stock.

Key Headlines Impacting American Express

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

• Positive Sentiment: American Express announced a new global partnership with ALL Accor that will add elite status matching and Membership Rewards points transfers for eligible cardholders, expanding the appeal of its premium travel and loyalty ecosystem. American Express and ALL Accor Expand the Power of Membership with New Global Partnership
• Positive Sentiment: American Express also expanded its B2B payments tools, including new automation features and a Bottomline partnership, which could strengthen commercial payments growth and improve efficiency. Here's How AXP Strengthens Its B2B Payments Beyond the Platinum Card
• Positive Sentiment: Jim Cramer highlighted strong travel spending trends as a tailwind for American Express, pointing to its premium cardholder base and high-margin annual-fee model. Jim Cramer Highlights Strong Travel Numbers as Fuel for American Express
• Neutral Sentiment: Multiple previews say investors are focused on Friday’s Q2 earnings release, with analysts watching for results to confirm whether spending strength and credit quality can support the stock’s recent momentum. American Express (AXP) Reports Q2 Earnings Tomorrow. Let’s See What Analysts Expect.
• Neutral Sentiment: Options traders are pricing in a sizable post-earnings move, signaling elevated expectations and the potential for volatility after the report. What American Express (AXP) Options Traders Are Expecting Ahead of Earnings
• Negative Sentiment: Near-term trading may stay cautious because the company is entering earnings with investors debating whether the print will meet high expectations, which can pressure the shares if results disappoint. Will American Express Stock Rise or Fall After Earnings?

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Benchmark assumed coverage on American Express in a research note on Monday, July 13th. They set a "buy" rating on the stock. Royal Bank Of Canada cut American Express from a "moderate buy" rating to a "hold" rating in a research note on Monday, July 13th. Morgan Stanley upgraded American Express from a "positive" rating to an "overweight" rating in a research report on Monday, July 13th. Weiss Ratings reissued a "hold (c+)" rating on shares of American Express in a research note on Monday, July 13th. Finally, HSBC raised their target price on shares of American Express from $312.00 to $329.00 and gave the stock a "hold" rating in a report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $374.11.

American Express Trading Down 2.3%

AXP opened at $340.61 on Friday. American Express Company has a one year low of $288.34 and a one year high of $387.49. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.57 and a quick ratio of 1.56. The business has a 50 day simple moving average of $332.26 and a two-hundred day simple moving average of $330.36. The firm has a market capitalization of $232.41 billion, a price-to-earnings ratio of 21.25, a PEG ratio of 1.41 and a beta of 1.04.

American Express (NYSE:AXP - Get Free Report) last posted its earnings results on Thursday, April 23rd. The payment services company reported $4.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.01 by $0.27. The firm had revenue of $14.21 billion for the quarter, compared to analysts' expectations of $18.60 billion. American Express had a return on equity of 33.95% and a net margin of 15.13%.The business's revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.64 earnings per share. Analysts predict that American Express Company will post 17.67 EPS for the current year.

American Express Dividend Announcement

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

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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