Resona Asset Management Co. Ltd. Decreases Position in American Express Company $AXP

Key Points

• Resona Asset Management cut its American Express stake by 4.5% in the fourth quarter, selling 8,080 shares and ending with 172,025 shares valued at about $63.8 million.
• American Express reported strong quarterly earnings, posting $4.28 EPS versus $4.01 expected, while revenue rose 11.4% year over year to $14.22 billion.
• The company raised its quarterly dividend to $0.95 per share from $0.82, bringing the annualized payout to $3.80 and the dividend yield to 1.2%.

Resona Asset Management Co. Ltd. reduced its position in shares of American Express Company (NYSE:AXP - Free Report) by 4.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 172,025 shares of the payment services company's stock after selling 8,080 shares during the period. Resona Asset Management Co. Ltd.'s holdings in American Express were worth $63,810,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Conway Capital Management Inc. lifted its position in shares of American Express by 7.4% during the 4th quarter. Conway Capital Management Inc. now owns 3,625 shares of the payment services company's stock worth $1,341,000 after purchasing an additional 250 shares during the last quarter. Hartford Funds Management Co LLC lifted its position in shares of American Express by 15.6% during the 4th quarter. Hartford Funds Management Co LLC now owns 9,167 shares of the payment services company's stock worth $3,393,000 after purchasing an additional 1,238 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of American Express by 10.7% during the 4th quarter. ProShare Advisors LLC now owns 230,470 shares of the payment services company's stock worth $85,262,000 after purchasing an additional 22,262 shares during the last quarter. Auxano Advisors LLC lifted its position in shares of American Express by 2.6% during the 4th quarter. Auxano Advisors LLC now owns 2,548 shares of the payment services company's stock worth $942,000 after purchasing an additional 65 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its position in shares of American Express by 136.9% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 21,064 shares of the payment services company's stock worth $7,789,000 after purchasing an additional 12,173 shares during the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Price Performance

Shares of AXP opened at $312.42 on Tuesday. American Express Company has a 1-year low of $281.46 and a 1-year high of $387.49. The stock has a market cap of $213.17 billion, a PE ratio of 19.49, a price-to-earnings-growth ratio of 1.27 and a beta of 1.08. 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 firm has a fifty day moving average price of $310.84 and a 200 day moving average price of $341.93.

American Express (NYSE:AXP - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The payment services company reported $4.28 EPS for the quarter, beating analysts' consensus estimates of $4.01 by $0.27. The company had revenue of $14.22 billion for the quarter, compared to analyst estimates of $18.60 billion. American Express had a net margin of 15.13% and a return on equity of 33.95%. American Express's quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the business posted $3.64 earnings per share. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. As a group, sell-side analysts anticipate that American Express Company will post 17.59 EPS for the current year.

American Express Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Friday, April 3rd were paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.2%. This is a positive change from American Express's previous quarterly dividend of $0.82. The ex-dividend date was Thursday, April 2nd. American Express's dividend payout ratio (DPR) is presently 23.71%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on AXP shares. Royal Bank Of Canada set a $415.00 price objective on shares of American Express in a research report on Friday, April 10th. Bank of America lifted their price objective on shares of American Express from $381.00 to $387.00 and gave the stock a "buy" rating in a research report on Friday, April 24th. UBS Group reaffirmed a "neutral" rating and set a $395.00 price objective on shares of American Express in a research report on Wednesday, February 4th. Weiss Ratings cut shares of American Express from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, April 15th. 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 research report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $357.47.

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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