The Manufacturers Life Insurance Company Buys 10,134 Shares of American Express Company $AXP

Key Points

• The Manufacturers Life Insurance Company increased its American Express stake by 2.4% in the second quarter, purchasing 10,134 additional shares and bringing its holdings to 430,789 shares valued at approximately $145.7 million.
• Institutional ownership remains high at 84.33%, with several other funds initiating or expanding positions in American Express during recent quarters.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $373.32. American Express also exceeded quarterly EPS expectations, reporting $4.53 versus the $4.41 consensus estimate.

The Manufacturers Life Insurance Company raised its stake in shares of American Express Company (NYSE:AXP) by 2.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 430,789 shares of the payment services company's stock after purchasing an additional 10,134 shares during the period. The Manufacturers Life Insurance Company owned 0.06% of American Express worth $145,715,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of AXP. Flputnam Investment Management Co. acquired a new position in American Express during the 2nd quarter valued at $12,879,000. Evolve Private Wealth LLC acquired a new stake in American Express in the 2nd quarter worth $5,172,000. OMERS ADMINISTRATION Corp bought a new position in shares of American Express during the 2nd quarter worth about $11,642,000. Peapack Gladstone Financial Corp increased its holdings in shares of American Express by 6.2% during the 4th quarter. Peapack Gladstone Financial Corp now owns 65,997 shares of the payment services company's stock worth $24,416,000 after purchasing an additional 3,855 shares during the period. Finally, Blue Capital Inc. acquired a new position in shares of American Express during the fourth quarter valued at about $2,838,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AXP. DZ Bank upgraded shares of American Express from a "hold" rating to a "buy" rating and set a $375.00 target price for the company in a research note on Thursday, June 18th. BTIG Research cut their price target on American Express from $324.00 to $315.00 and set a "sell" rating for the company in a report on Monday, July 27th. Bank of America raised their price objective on American Express from $387.00 to $391.00 and gave the stock a "buy" rating in a research report on Thursday, July 9th. UBS Group decreased their price objective on American Express from $386.00 to $384.00 and set a "neutral" rating on the stock in a report on Monday, August 3rd. Finally, JPMorgan Chase & Co. upgraded American Express from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $328.00 to $400.00 in a research report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, American Express currently has an average rating of "Moderate Buy" and an average price target of $373.32.

American Express Price Performance

NYSE:AXP opened at $324.64 on Friday. 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 firm has a market cap of $219.23 billion, a PE ratio of 19.70, a price-to-earnings-growth ratio of 1.36 and a beta of 1.05. American Express Company has a 12 month low of $290.97 and a 12 month high of $387.49. The company's 50-day moving average price is $339.45 and its two-hundred day moving average price is $324.69.

American Express (NYSE:AXP - Get Free Report) last released its quarterly earnings results on Friday, July 24th. The payment services company reported $4.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.41 by $0.12. The business 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%.The firm's revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the previous year, the business posted $4.08 earnings per share. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. On average, equities analysts anticipate that American Express Company will post 17.68 EPS 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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