Rice Partnership LLC Cuts Stock Holdings in American Express Company $AXP

Rice Partnership LLC lowered its holdings in American Express Company (NYSE:AXP) by 12.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 44,450 shares of the payment services company’s stock after selling 6,173 shares during the quarter. American Express makes up 1.8% of Rice Partnership LLC’s portfolio, making the stock its 16th biggest position. Rice Partnership LLC’s holdings in American Express were worth $13,445,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Keybank National Association OH boosted its stake in American Express by 3.0% in the fourth quarter. Keybank National Association OH now owns 359,261 shares of the payment services company’s stock valued at $132,909,000 after acquiring an additional 10,495 shares in the last quarter. Swiss Life Asset Management Ltd increased its position in shares of American Express by 34.1% during the fourth quarter. Swiss Life Asset Management Ltd now owns 139,887 shares of the payment services company’s stock worth $51,751,000 after purchasing an additional 35,533 shares in the last quarter. Country Trust Bank increased its position in shares of American Express by 14.0% during the fourth quarter. Country Trust Bank now owns 121,774 shares of the payment services company’s stock worth $45,050,000 after purchasing an additional 14,931 shares in the last quarter. Peapack Gladstone Financial Corp lifted 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 valued at $24,416,000 after purchasing an additional 3,855 shares during the last quarter. Finally, Thames Capital Management LLC lifted its holdings in shares of American Express by 189.6% during the 4th quarter. Thames Capital Management LLC now owns 80,463 shares of the payment services company’s stock valued at $29,767,000 after purchasing an additional 52,679 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AXP. Jefferies Financial Group upgraded American Express from a “hold” rating to a “buy” rating in a research note on Monday, July 13th. HSBC increased their price target on American Express from $312.00 to $329.00 and gave the company a “hold” rating in a research note on Monday, July 13th. Morgan Stanley raised American Express from a “positive” rating to an “overweight” rating in a report on Monday, July 13th. Guggenheim assumed coverage on shares of American Express in a report on Monday, July 13th. They set a “buy” rating on the stock. Finally, Freedom Capital raised shares of American Express from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 14th. 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 issued a Sell rating to the stock. According to data from MarketBeat.com, American Express has a consensus rating of “Moderate Buy” and an average target price of $374.11.

American Express Stock Down 1.0%

American Express stock opened at $351.81 on Tuesday. American Express Company has a fifty-two week low of $288.34 and a fifty-two week high of $387.49. The company has a market cap of $240.05 billion, a PE ratio of 21.95, a PEG ratio of 1.43 and a beta of 1.04. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.56 and a current ratio of 1.57. The business’s 50-day simple moving average is $330.18 and its two-hundred day simple moving average is $330.87.

American Express (NYSE:AXP) last released its earnings results on Thursday, April 23rd. The payment services company reported $4.28 EPS for the quarter, topping analysts’ consensus estimates of $4.01 by $0.27. The firm had revenue of $14.21 billion during the quarter, compared to the consensus estimate of $18.60 billion. American Express had a return on equity of 33.95% and a net margin of 15.13%.The company’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.64 earnings per share. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. Equities analysts anticipate that American Express Company will post 17.67 EPS for the current year.

American Express Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Thursday, July 2nd will be given a dividend of $0.95 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $3.80 dividend on an annualized basis and a yield of 1.1%. American Express’s dividend payout ratio (DPR) is currently 23.71%.

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.