Cornerstone Advisors LLC Purchases Shares of 50,301 American Express Company $AXP

Cornerstone Advisors LLC purchased a new position in shares of American Express Company (NYSE:AXP) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 50,301 shares of the payment services company’s stock, valued at approximately $17,014,000.

A number of other large investors also recently modified their holdings of the company. Evolution Wealth Management Inc. grew its holdings in shares of American Express by 6,600.0% during the 4th quarter. Evolution Wealth Management Inc. now owns 67 shares of the payment services company’s stock worth $25,000 after purchasing an additional 66 shares during the period. Joseph Group Capital Management purchased a new position in American Express in the fourth quarter valued at approximately $26,000. Sfam LLC acquired a new position in American Express during the fourth quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd acquired a new position in American Express during the fourth quarter valued at approximately $28,000. Finally, Measured Wealth Private Client Group LLC purchased a new stake in American Express during the third quarter worth approximately $28,000. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

American Express Price Performance

Shares of AXP stock opened at $336.50 on Tuesday. The firm has a fifty day simple moving average of $341.81 and a 200-day simple moving average of $327.17. The company has a market capitalization of $227.24 billion, a PE ratio of 20.42, a price-to-earnings-growth ratio of 1.38 and a beta of 1.04. American Express Company has a twelve month low of $290.97 and a twelve month high of $387.49. The company has a current ratio of 1.55, a quick ratio of 1.54 and a debt-to-equity ratio of 1.66.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, July 24th. The payment services company reported $4.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.41 by $0.12. The firm had revenue of $14.99 billion for the quarter, compared to the consensus estimate of $19.70 billion. American Express had a net margin of 15.07% and a return on equity of 34.12%. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.08 EPS. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. Equities research analysts anticipate that American Express Company will post 17.67 earnings per share for the current fiscal year.

American Express Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on AXP shares. UBS Group dropped their price objective on shares of American Express from $386.00 to $384.00 and set a “neutral” rating for the company in a research report on Monday, August 3rd. Loop Capital initiated coverage on American Express in a research report on Thursday, May 21st. They issued a “buy” rating and a $389.00 price objective on the stock. JPMorgan Chase & Co. raised American Express from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $328.00 to $400.00 in a research report on Monday, July 13th. Weiss Ratings reiterated a “hold (c+)” rating on shares of American Express in a research note on Monday, July 13th. Finally, Evercore set a $370.00 target price on American Express in a report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $373.32.

About American Express

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.