Cornerstone Advisors LLC Invests $17.01 Million in American Express Company $AXP

Cornerstone Advisors LLC purchased a new position in American Express Company (NYSE:AXP) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 50,301 shares of the payment services company’s stock, valued at approximately $17,014,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Evolution Wealth Management Inc. grew its holdings in American Express by 6,600.0% during 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. Joseph Group Capital Management acquired a new stake in shares of American Express in the 4th quarter valued at about $26,000. Sfam LLC acquired a new stake in shares of American Express in the 4th quarter valued at about $26,000. Caitong International Asset Management Co. Ltd bought a new position in shares of American Express during the fourth quarter worth about $28,000. Finally, Measured Wealth Private Client Group LLC bought a new position in shares of American Express during the third quarter worth about $28,000. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Price Performance

AXP opened at $336.50 on Tuesday. 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’s 50-day moving average price is $341.81 and its 200 day moving average price is $327.17. American Express Company has a fifty-two week low of $290.97 and a fifty-two week high of $387.49. The firm has a market cap of $227.24 billion, a price-to-earnings ratio of 20.42, a price-to-earnings-growth ratio of 1.38 and a beta of 1.04.

American Express (NYSE:AXP) last posted its 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 company had revenue of $14.99 billion for 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 quarterly revenue was up 10.0% compared to the same quarter last year. During the same period last year, the business posted $4.08 earnings per share. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. As a group, sell-side analysts expect that American Express Company will post 17.67 earnings per share for the current year.

American Express Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Thursday, July 2nd were given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Thursday, July 2nd. American Express’s payout ratio is 23.06%.

Analyst Ratings Changes

Several brokerages recently weighed in on AXP. Bank of America boosted their price objective on American Express from $387.00 to $391.00 and gave the company a “buy” rating in a report on Thursday, July 9th. The Goldman Sachs Group lifted their target price on American Express from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. DZ Bank upgraded American Express from a “hold” rating to a “buy” rating and set a $375.00 price target for the company in a report on Thursday, June 18th. Piper Sandler upped their price target on American Express from $396.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. Finally, HSBC raised their price objective on American Express from $312.00 to $329.00 and gave the stock a “hold” rating in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, American Express presently has an average rating of “Moderate Buy” and an average target price of $373.32.

American Express Profile

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.