Reynders McVeigh Capital Management LLC Acquires 54,429 Shares of American Express Company $AXP

Key Points

• Reynders McVeigh Capital Management increased its American Express stake by 1,439.5% in the second quarter, acquiring 54,429 additional shares for a total holding of 58,210 shares valued at approximately $19.69 million.
• Institutional investors own 84.33% of American Express, with major holders including BlackRock, State Street, Fisher Asset Management, Bank of America and Capital World Investors.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $373.32, while AXP recently traded down 1.1% to $324.28. The company exceeded quarterly EPS expectations and reported year-over-year revenue growth of 10%.

Reynders McVeigh Capital Management LLC lifted its stake in American Express Company (NYSE:AXP) by 1,439.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,210 shares of the payment services company's stock after buying an additional 54,429 shares during the period. Reynders McVeigh Capital Management LLC's holdings in American Express were worth $19,690,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in American Express during the 2nd quarter valued at about $14,208,662,000. State Street Corp lifted its position in American Express by 1.3% during the fourth quarter. State Street Corp now owns 29,464,868 shares of the payment services company's stock valued at $10,900,528,000 after buying an additional 369,967 shares during the period. Fisher Asset Management LLC lifted its position in 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 valued at $3,338,238,000 after acquiring an additional 141,936 shares during the period. Bank of America Corp DE boosted its position in shares of American Express by 8.4% in the 2nd quarter. Bank of America Corp DE now owns 7,969,555 shares of the payment services company's stock worth $2,695,702,000 after purchasing an additional 614,981 shares in the last quarter. Finally, Capital World Investors boosted its holdings in American Express by 46.7% in the fourth quarter. Capital World Investors now owns 7,515,675 shares of the payment services company's stock worth $2,780,424,000 after acquiring an additional 2,393,340 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AXP has been the topic of a number of recent analyst reports. Jefferies Financial Group upgraded shares of American Express from a "hold" rating to a "buy" rating in a report on Monday, July 13th. HSBC upped their price target on shares of American Express from $312.00 to $329.00 and gave the company a "hold" rating in a research report on Monday, July 13th. BTIG Research lowered their target price on American Express from $324.00 to $315.00 and set a "sell" rating on the stock in a research report on Monday, July 27th. Royal Bank Of Canada lowered shares of American Express from a "moderate buy" rating to a "hold" rating in a research report on Monday, July 13th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of American Express in a research report on Monday, July 13th. One research 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 issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $373.32.

Trending Headlines about American Express

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

• Positive Sentiment: American Express launched a high-yield savings account for businesses, expanding its banking offerings and potentially attracting more commercial deposits. The product could strengthen relationships with small and midsize businesses while providing a new source of funding and cross-selling opportunities. American Express Launches New Savings Account for Businesses
• Positive Sentiment: A commentary on Berkshire Hathaway’s leadership transition said American Express could remain one of Berkshire’s three largest holdings for decades. Continued confidence from a major long-term shareholder may support investor sentiment and reinforce AXP’s reputation as a durable franchise. Did Greg Abel Already Make His First Big Mistake as Berkshire Hathaway CEO?
• Neutral Sentiment: Analyst coverage comparing American Express with other financial-services stocks focused on relative valuation and investment appeal. The discussion may influence value-oriented investors, but no clearly defined rating change or new earnings estimate was provided. Analysts Offer Insights on Financial Companies: American Express and Robinhood
• Negative Sentiment: High-end card-market changes are increasing costs and intensifying competition among issuers. A limited pool of affluent customers and cardholder churn could make premium products less profitable, creating a potential headwind for American Express’s luxury-card strategy. The High-End Card Changes That Are Challenging Banks

American Express Trading Down 1.1%

NYSE AXP traded down $3.50 during trading hours on Tuesday, hitting $324.28. 2,058,934 shares of the company were exchanged, compared to its average volume of 3,198,391. The stock has a 50-day moving average price of $338.89 and a 200 day moving average price of $324.77. The stock has a market cap of $218.99 billion, a PE ratio of 19.68, a price-to-earnings-growth ratio of 1.38 and a beta of 1.05. The company has a quick ratio of 1.54, a current ratio of 1.55 and a debt-to-equity ratio of 1.66. American Express Company has a 52 week low of $290.97 and a 52 week high of $387.49.

American Express (NYSE:AXP - Get Free Report) last released its quarterly earnings data on Friday, July 24th. The payment services company reported $4.53 earnings per share for the quarter, topping analysts' consensus estimates of $4.41 by $0.12. The firm had revenue of $14.99 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 quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.08 earnings per share. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. Analysts forecast that American Express Company will post 17.68 earnings per share for the current fiscal year.

About American Express

American Express Company is a global payments and financial services company that provides payment products, services and experiences to consumers, businesses and institutions. Its offerings include credit and charge cards, consumer and commercial payment solutions, business financing, deposit products and expense-management tools.

The company also operates a global payments network connecting cardmembers, merchants and financial institutions. Through its merchant services business, American Express supports payment acceptance and provides data-driven marketing and customer-engagement solutions.

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