Saudi Central Bank Grows Holdings in American Express Company $AXP

Key Points

• Saudi Central Bank increased its American Express stake by 82.9% in the second quarter, ending with 37,204 shares valued at approximately $12.6 million.
• American Express exceeded quarterly earnings expectations, reporting $4.53 in EPS versus the $4.41 consensus estimate, while revenue rose 10% year over year to $19.64 billion.
• Analysts maintain a “Moderate Buy” consensus on AXP, with an average price target of $373.32, although the stock recently traded at $326.11.

Saudi Central Bank raised its holdings in shares of American Express Company (NYSE:AXP - Free Report) by 82.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,204 shares of the payment services company's stock after purchasing an additional 16,863 shares during the quarter. Saudi Central Bank's holdings in American Express were worth $12,584,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in AXP. Evolution Wealth Management Inc. increased its stake in 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 buying an additional 66 shares during the period. Sfam LLC purchased a new stake in American Express in the 4th quarter valued at about $26,000. Archer Investment Corp bought a new position in American Express in the 2nd quarter worth about $25,000. Caitong International Asset Management Co. Ltd bought a new position in American Express in the 4th quarter worth about $28,000. Finally, Wilkerson Advisory Group LLC purchased a new position in shares of American Express during the fourth quarter worth approximately $29,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Stock Performance

Shares of American Express stock opened at $326.11 on Friday. 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 company has a market capitalization of $220.23 billion, a PE ratio of 19.79, a P/E/G ratio of 1.39 and a beta of 1.05. The company has a 50-day simple moving average of $341.66 and a two-hundred day simple moving average of $325.37. American Express Company has a one year low of $290.97 and a one year high of $387.49.

American Express (NYSE:AXP - Get Free Report) last released its quarterly earnings results on Friday, July 24th. The payment services company reported $4.53 EPS for the quarter, beating analysts' consensus estimates of $4.41 by $0.12. The company had revenue of $19.64 billion during the quarter, compared to analysts' expectations of $19.70 billion. American Express had a return on equity of 34.12% and a net margin of 15.07%.During the same period last year, the business posted $4.08 earnings per share. The firm's revenue was up 10.0% compared to the same quarter last year. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. Research analysts expect that American Express Company will post 17.68 EPS for the current fiscal year.

Analysts Set New Price Targets

AXP has been the subject of several research analyst reports. Bank of America lifted their price target on shares of American Express from $387.00 to $391.00 and gave the company a "buy" rating in a research note on Thursday, July 9th. Morgan Stanley dropped their price objective on American Express from $385.00 to $382.00 and set an "equal weight" rating on the stock in a research note on Monday, July 27th. Loop Capital initiated coverage on American Express in a report on Thursday, May 21st. They set a "buy" rating and a $389.00 price objective on the stock. DZ Bank raised American Express from a "hold" rating to a "buy" rating and set a $375.00 target price for the company in a research report on Thursday, June 18th. Finally, TD Cowen upped their target price on American Express from $330.00 to $338.00 and gave the stock a "hold" rating in a report on Tuesday, July 7th. 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 company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $373.32.

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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