American Express Company $AXP Stake Lifted by Summit Wealth Group LLC Co.

Summit Wealth Group LLC Co. lifted its stake in shares of American Express Company (NYSE:AXP) by 440.7% during the third quarter, Holdings Channel.com reports. The fund owned 6,099 shares of the payment services company’s stock after purchasing an additional 4,971 shares during the period. Summit Wealth Group LLC Co.’s holdings in American Express were worth $1,855,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Flputnam Investment Management Co. bought a new stake in shares of American Express in the 2nd quarter worth $12,879,000. State Street Corp boosted its stake in American Express by 40.2% during the second quarter. State Street Corp now owns 40,967,262 shares of the payment services company’s stock valued at $13,857,176,000 after buying an additional 11,739,541 shares in the last quarter. Evolve Private Wealth LLC bought a new position in American Express during the second quarter valued at about $5,172,000. Silicon Valley Capital Partners grew its holdings in American Express by 14.9% during the second quarter. Silicon Valley Capital Partners now owns 41,480 shares of the payment services company’s stock worth $14,030,000 after acquiring an additional 5,365 shares during the period. Finally, OMERS ADMINISTRATION Corp acquired a new position in American Express during the second quarter worth about $11,642,000. Institutional investors own 84.33% of the company’s stock.

Analyst Upgrades and Downgrades

AXP has been the topic of several research reports. UBS Group boosted their price target on shares of American Express from $345.00 to $346.00 and gave the stock a “neutral” rating in a research report on Monday. Barclays reduced their price objective on shares of American Express from $342.00 to $340.00 and set an “equal weight” rating for the company in a research report on Monday, October 26th. Piper Sandler lifted their price objective on shares of American Express from $396.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. Guggenheim initiated coverage on shares of American Express in a report on Monday, July 13th. They issued a “buy” rating on the stock. Finally, Morgan Stanley cut their target price on shares of American Express from $382.00 to $380.00 and set an “equal weight” rating for the company in a research note on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $365.22.

American Express Trading Up 2.8%

Shares of NYSE AXP opened at $328.00 on Tuesday. American Express Company has a one year low of $290.97 and a one year high of $387.49. The firm has a market capitalization of $219.94 billion, a PE ratio of 18.47, a PEG ratio of 1.35 and a beta of 1.08. The company has a current ratio of 1.58, a quick ratio of 1.54 and a debt-to-equity ratio of 1.64. The business has a 50-day moving average price of $317.02 and a two-hundred day moving average price of $326.29.

American Express (NYSE:AXP) last released its earnings results on Friday, October 23rd. The payment services company reported $4.68 earnings per share for the quarter, beating the consensus estimate of $4.50 by $0.18. The company had revenue of $20.06 billion for the quarter, compared to analysts’ expectations of $20.12 billion. American Express had a return on equity of 34.19% and a net margin of 15.80%. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.14 EPS. American Express has set its FY 2026 guidance at 17.600-17.900 EPS. As a group, analysts predict that American Express Company will post 17.88 earnings per share for the current fiscal year.

American Express Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 10th. Investors of record on Friday, October 9th will be issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, October 9th. American Express’s dividend payout ratio (DPR) is currently 21.40%.

American Express Profile

American Express Company is a global financial services company that provides payment, lending, travel and expense management products and services. Its offerings include consumer and small-business charge and credit cards, corporate payment programs, business financing solutions, deposit products and digital payment services.

The company operates an integrated payments network that connects card members, merchants and financial institutions. American Express also provides merchant acquisition and payment processing services, data and analytics, fraud prevention tools, and customer loyalty programs.