L2 Asset Management LLC Purchases Shares of 3,041 American Express Company $AXP

L2 Asset Management LLC purchased a new position in American Express Company (NYSE:AXP) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,041 shares of the payment services company’s stock, valued at approximately $1,029,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Evolution Wealth Management Inc. lifted its position in shares of American Express by 6,600.0% in the fourth quarter. Evolution Wealth Management Inc. now owns 67 shares of the payment services company’s stock worth $25,000 after buying an additional 66 shares in the last quarter. Joseph Group Capital Management purchased a new position in American Express during the 4th quarter valued at approximately $26,000. Sfam LLC purchased a new position in American Express during the 4th quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd bought a new stake in American Express in the 4th quarter worth approximately $28,000. Finally, Measured Wealth Private Client Group LLC purchased a new stake in shares of American Express during the 3rd quarter worth approximately $28,000. Institutional investors own 84.33% of the company’s stock.

Analysts Set New Price Targets

AXP has been the subject of a number of research reports. Freedom Capital upgraded American Express from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 14th. HSBC boosted their price target on shares of American Express from $312.00 to $329.00 and gave the stock a “hold” rating in a research report on Monday, July 13th. UBS Group decreased their price target on shares of American Express from $386.00 to $384.00 and set a “neutral” rating on the stock in a research note on Monday, August 3rd. The Goldman Sachs Group lifted their price objective on shares of American Express from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Finally, Morgan Stanley reduced their target price on shares of American Express from $385.00 to $382.00 and set an “equal weight” rating on the stock in a report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $373.32.

American Express Price Performance

NYSE:AXP opened at $337.38 on Tuesday. The firm has a market capitalization of $227.84 billion, a price-to-earnings ratio of 20.47, a PEG ratio of 1.36 and a beta of 1.04. American Express Company has a 1 year low of $290.97 and a 1 year high of $387.49. The business has a 50 day simple moving average of $343.23 and a 200-day simple moving average of $326.56. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.55 and a quick ratio of 1.54.

American Express (NYSE:AXP) last released its earnings results on Friday, July 24th. The payment services company reported $4.53 earnings per share for the quarter, beating the consensus estimate of $4.41 by $0.12. The firm had revenue of $19.64 billion for the quarter, compared to the consensus estimate of $19.70 billion. American Express had a return on equity of 34.12% and a net margin of 15.07%.The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.08 EPS. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. Equities analysts forecast that American Express Company will post 17.67 EPS for the current year.

American Express Announces Dividend

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

American Express Company 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.