American Express Company $AXP Stock Acquired by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System increased its stake in shares of American Express Company (NYSE:AXP) by 13.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 32,246 shares of the payment services company’s stock after purchasing an additional 3,841 shares during the period. Maryland State Retirement & Pension System’s holdings in American Express were worth $9,806,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Ritholtz Wealth Management boosted its stake in shares of American Express by 3.7% in the third quarter. Ritholtz Wealth Management now owns 15,394 shares of the payment services company’s stock worth $4,681,000 after acquiring an additional 550 shares during the last quarter. NBH Bank increased its position in shares of American Express by 8.8% during the third quarter. NBH Bank now owns 2,018 shares of the payment services company’s stock worth $614,000 after purchasing an additional 164 shares in the last quarter. Jacobi Capital Management LLC raised its stake in American Express by 1.3% in the 3rd quarter. Jacobi Capital Management LLC now owns 11,383 shares of the payment services company’s stock valued at $3,462,000 after purchasing an additional 146 shares during the last quarter. Machina Capital S.A.S. acquired a new position in American Express in the 3rd quarter valued at $2,336,000. Finally, Silver Grove Financial Group Inc. raised its stake in American Express by 14.2% in the 3rd quarter. Silver Grove Financial Group Inc. now owns 925 shares of the payment services company’s stock valued at $281,000 after purchasing an additional 115 shares during the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Performance

Shares of American Express stock opened at $318.50 on Friday. American Express Company has a one year low of $290.97 and a one year high of $387.49. The company has a market cap of $213.57 billion, a price-to-earnings ratio of 17.93, a PEG ratio of 1.36 and a beta of 1.09. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.58 and a current ratio of 1.58. The business’s 50 day moving average price is $315.64 and its 200 day moving average price is $324.84.

American Express (NYSE:AXP) last released its quarterly earnings data on Friday, October 23rd. The payment services company reported $4.68 earnings per share for the quarter, topping analysts’ consensus estimates of $4.50 by $0.18. The company had revenue of $20.06 billion for the quarter, compared to analyst estimates of $20.12 billion. American Express had a return on equity of 34.19% and a net margin of 15.80%. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.14 earnings per share. American Express has set its FY 2026 guidance at 17.600-17.900 EPS. On average, research analysts predict that American Express Company will post 17.98 EPS for the current year.

American Express Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 10th. Stockholders of record on Friday, October 9th were 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 was Friday, October 9th. American Express’s payout ratio is currently 21.40%.

Analysts Set New Price Targets

A number of brokerages have weighed in on AXP. BTIG Research decreased their price objective on American Express from $315.00 to $230.00 and set a “sell” rating on the stock in a report on Monday, September 7th. Royal Bank Of Canada dropped their target price on shares of American Express from $415.00 to $400.00 and set an “outperform” rating for the company in a report on Friday, October 9th. Citigroup dropped their target price on shares of American Express from $340.00 to $335.00 and set a “neutral” rating for the company in a report on Tuesday, October 27th. Morgan Stanley reduced 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 report on Monday, October 12th. Finally, BMO Capital Markets assumed coverage on shares of American Express in a research note on Thursday, October 8th. They issued an “outperform” rating and a $380.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $365.42.

Insider Activity

In other news, insider Anna Marrs sold 44,910 shares of the business’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $327.20, for a total transaction of $14,694,552.00. Following the transaction, the insider owned 20,509 shares of the company’s stock, valued at approximately $6,710,544.80. The trade was a 68.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Laureen Seeger sold 69,860 shares of the company’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $328.17, for a total transaction of $22,925,956.20. Following the completion of the sale, the insider directly owned 9,002 shares of the company’s stock, valued at $2,954,186.34. This represents a 88.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 414,171 shares of company stock valued at $137,069,544. 0.14% of the stock is currently owned by insiders.

About American Express

American Express Company is a global payments and financial services company that operates a card-issuing business and a payments network. Its products and services include consumer, small-business and corporate cards, payment processing, lending, travel services and expense-management solutions. Founded in 1850 as an express mail business, the company expanded into financial services and became known for its charge cards and travel-related services. Today, it serves cardholders and businesses in the United States and markets around the world, connecting customers, merchants and financial institutions through its network.