American Express Company $AXP Shares Acquired by Summit Wealth Group LLC Co.

Summit Wealth Group LLC Co. increased its position in shares of American Express Company (NYSE:AXP) by 440.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,099 shares of the payment services company’s stock after purchasing an additional 4,971 shares during the quarter. Summit Wealth Group LLC Co.’s holdings in American Express were worth $1,855,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Weiss Ratings raised American Express from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, October 26th. The Goldman Sachs Group boosted their price objective on American Express from $400.00 to $410.00 and gave the company a “buy” rating in a research report on Monday, July 6th. Jefferies Financial Group restated a “hold” rating and set a $330.00 price objective on shares of American Express in a research note on Friday, October 23rd. President Capital increased their target price on American Express from $359.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, August 19th. Finally, UBS Group increased their target price on American Express from $345.00 to $346.00 and gave the stock a “neutral” rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, American Express presently has an average rating of “Moderate Buy” and a consensus target price of $365.22.

American Express Stock Up 2.8%

AXP opened at $328.00 on Tuesday. American Express Company has a 12 month low of $290.97 and a 12 month high of $387.49. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.54. The stock has a market cap of $219.94 billion, a P/E ratio of 18.47, a P/E/G ratio of 1.35 and a beta of 1.08. The stock’s 50 day moving average price is $317.02 and its 200 day moving average price is $326.29.

American Express (NYSE:AXP) last announced 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. American Express had a return on equity of 34.19% and a net margin of 15.80%. The firm had revenue of $20.06 billion for the quarter, compared to the consensus estimate of $20.12 billion. During the same quarter in the previous year, the business earned $4.14 EPS. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. American Express has set its FY 2026 guidance at 17.600-17.900 EPS. As a group, research analysts predict that American Express Company will post 17.88 earnings per share for the current year.

American Express Dividend Announcement

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

About American Express

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.