Provident Trust Co. Has $311.47 Million Position in American Express Company $AXP

Key Points

• Provident Trust Co. increased its American Express stake by 0.4% in the second quarter to 920,817 shares valued at approximately $311.5 million, representing 6.5% of its portfolio.
• Analysts maintain a consensus “Moderate Buy” rating on AXP, with an average price target of $373.32; institutional investors own 84.33% of the company’s stock.
• American Express reported quarterly EPS of $4.53, exceeding estimates of $4.41, while revenue rose 10% year over year to $19.64 billion. The company also pays a quarterly dividend of $0.95 per share, yielding about 1.1%.

Provident Trust Co. lifted its holdings in American Express Company (NYSE:AXP - Free Report) by 0.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 920,817 shares of the payment services company's stock after purchasing an additional 3,786 shares during the period. American Express comprises 6.5% of Provident Trust Co.'s holdings, making the stock its 8th biggest position. Provident Trust Co. owned 0.14% of American Express worth $311,466,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of AXP. Evolution Wealth Management Inc. raised its position in shares of American Express by 6,600.0% in the 4th quarter. Evolution Wealth Management Inc. now owns 67 shares of the payment services company's stock worth $25,000 after acquiring an additional 66 shares in the last quarter. Archer Investment Corp purchased a new stake in shares of American Express during the 2nd quarter worth $25,000. Sfam LLC bought a new stake in American Express during the fourth quarter valued at about $26,000. Caitong International Asset Management Co. Ltd purchased a new position in American Express in the fourth quarter valued at about $28,000. Finally, Measured Wealth Private Client Group LLC bought a new position in American Express in the third quarter worth about $28,000. Institutional investors own 84.33% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on AXP shares. Loop Capital initiated coverage on shares of American Express in a research report on Thursday, May 21st. They set a "buy" rating and a $389.00 price target for the company. Barclays boosted their price objective on shares of American Express from $322.00 to $364.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 7th. BTIG Research decreased their target price on shares of American Express from $324.00 to $315.00 and set a "sell" rating for the company in a research report on Monday, July 27th. HSBC raised their target price on shares of American Express from $312.00 to $329.00 and gave the company a "hold" rating in a research note on Monday, July 13th. Finally, Guggenheim began coverage on American Express in a research report on Monday, July 13th. They set a "buy" rating on the stock. One research 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 company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $373.32.

American Express Stock Performance

AXP opened at $333.64 on Friday. American Express Company has a 52-week low of $290.97 and a 52-week high of $387.49. 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 cap of $225.31 billion, a P/E ratio of 20.25, a price-to-earnings-growth ratio of 1.35 and a beta of 1.04. The firm's 50-day moving average price is $342.85 and its 200-day moving average price is $326.18.

American Express (NYSE:AXP - Get Free Report) last announced its quarterly earnings data on Friday, July 24th. The payment services company reported $4.53 EPS for the quarter, beating 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 firm had revenue of $19.64 billion during the quarter, compared to analyst estimates of $19.70 billion. During the same period last year, the firm posted $4.08 EPS. American Express's 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. As a group, equities analysts anticipate that American Express Company will post 17.67 EPS for the current fiscal year.

American Express Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Thursday, July 2nd were paid 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 payout ratio 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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