Equitable Holdings Inc. Has $10.50 Million Stake in American Express Company $AXP

Equitable Holdings Inc. reduced its stake in American Express Company (NYSE:AXP) by 10.6% in the 2nd quarter, Holdings Channel reports. The firm owned 31,046 shares of the payment services company’s stock after selling 3,687 shares during the period. Equitable Holdings Inc.’s holdings in American Express were worth $10,501,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AXP. Total Clarity Wealth Management Inc. boosted its holdings in shares of American Express by 3.4% during the 4th quarter. Total Clarity Wealth Management Inc. now owns 874 shares of the payment services company’s stock worth $323,000 after buying an additional 29 shares during the period. Dover Advisors LLC lifted its position in American Express by 0.4% during the 4th quarter. Dover Advisors LLC now owns 7,977 shares of the payment services company’s stock worth $2,951,000 after acquiring an additional 29 shares during the last quarter. Invenio Wealth Partners LLC boosted its holdings in American Express by 3.9% during the third quarter. Invenio Wealth Partners LLC now owns 776 shares of the payment services company’s stock valued at $258,000 after acquiring an additional 29 shares during the period. Strait & Sound Wealth Management LLC boosted its holdings in American Express by 2.7% during the fourth quarter. Strait & Sound Wealth Management LLC now owns 1,137 shares of the payment services company’s stock valued at $421,000 after acquiring an additional 30 shares during the period. Finally, Onyx Bridge Wealth Group LLC grew its position in shares of American Express by 3.6% in the first quarter. Onyx Bridge Wealth Group LLC now owns 869 shares of the payment services company’s stock valued at $263,000 after purchasing an additional 30 shares during the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

Analyst Ratings Changes

AXP has been the subject of several recent analyst reports. Truist Financial increased their target price on American Express from $360.00 to $375.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. JPMorgan Chase & Co. raised American Express from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $328.00 to $400.00 in a research report on Monday, July 13th. Jefferies Financial Group upgraded shares of American Express from a “hold” rating to a “buy” rating in a research note on Monday, July 13th. Freedom Capital raised shares of American Express from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 14th. Finally, Benchmark began coverage on shares of American Express in a research note on Monday, July 13th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, American Express currently has an average rating of “Moderate Buy” and an average target price of $373.32.

American Express Trading Down 0.6%

American Express stock opened at $334.03 on Friday. The business has a 50 day moving average price of $342.96 and a two-hundred day moving average price of $326.13. The company has a quick ratio of 1.54, a current ratio of 1.55 and a debt-to-equity ratio of 1.66. American Express Company has a 12 month low of $290.97 and a 12 month high of $387.49. The stock has a market cap of $225.57 billion, a price-to-earnings ratio of 20.27, a price-to-earnings-growth ratio of 1.36 and a beta of 1.04.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, July 24th. The payment services company reported $4.53 earnings per share for the quarter, topping the consensus estimate of $4.41 by $0.12. The company had revenue of $19.64 billion for the quarter, compared to analyst estimates of $19.70 billion. American Express had a return on equity of 34.12% and a net margin of 15.07%.American Express’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm earned $4.08 EPS. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. As a group, equities analysts forecast 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 was paid on Monday, August 10th. Shareholders of record on Thursday, July 2nd were paid a dividend of $0.95 per share. The ex-dividend date was Thursday, July 2nd. This represents a $3.80 dividend on an annualized basis and a yield of 1.1%. American Express’s payout ratio is currently 23.06%.

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.