American Express Company $AXP Stock: Provident Trust Co. Lowers Holdings

Provident Trust Co. cut its stake in shares of American Express Company (NYSE:AXP) by 31.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 631,564 shares of the payment services company’s stock after selling 289,253 shares during the quarter. American Express accounts for about 6.0% of Provident Trust Co.’s investment portfolio, making the stock its 7th biggest holding. Provident Trust Co.’s holdings in American Express were worth $192,059,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in American Express during the 2nd quarter worth about $14,208,662,000. State Street Corp increased its holdings in shares of American Express by 40.2% in 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 period. Bank of America Corp DE increased its holdings in shares of American Express by 8.4% in the second quarter. Bank of America Corp DE now owns 7,969,555 shares of the payment services company’s stock valued at $2,695,702,000 after purchasing an additional 614,981 shares during the period. Corient Private Wealth LP increased its holdings in shares of American Express by 492.2% in the second quarter. Corient Private Wealth LP now owns 4,771,292 shares of the payment services company’s stock valued at $1,613,890,000 after purchasing an additional 3,965,582 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in shares of American Express in the second quarter worth about $1,263,787,000. 84.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AXP shares. The Goldman Sachs Group lifted their target price on American Express from $400.00 to $410.00 and gave the stock a “buy” rating in a report on Monday, July 6th. William Blair restated an “outperform” rating on shares of American Express in a research note on Friday, October 23rd. Benchmark assumed coverage on shares of American Express in a research note on Monday, July 13th. They issued a “buy” rating on the stock. Loop Capital cut their price objective on shares of American Express from $389.00 to $386.00 and set a “buy” rating on the stock in a research note on Monday, July 27th. Finally, Evercore set a $330.00 price target on American Express in a report on Tuesday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, American Express presently has a consensus rating of “Moderate Buy” and a consensus target price of $365.19.

American Express Trading Down 0.0%

Shares of AXP stock opened at $319.03 on Monday. The stock’s fifty day moving average is $317.18 and its two-hundred day moving average is $326.44. 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 firm has a market capitalization of $213.93 billion, a P/E ratio of 17.96, a PEG ratio of 1.35 and a beta of 1.09. American Express Company has a fifty-two week low of $290.97 and a fifty-two week high of $387.49.

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

American Express Announces Dividend

The company 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. The ex-dividend date is Friday, October 9th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.2%. 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.