Palisade Capital Management LP Buys Shares of 3,234 American Express Company $AXP

Palisade Capital Management LP purchased a new position in shares of American Express Company (NYSE:AXP) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,234 shares of the payment services company’s stock, valued at approximately $1,094,000.

Several other hedge funds also recently modified their holdings of the company. Evolution Wealth Management Inc. increased its holdings in American Express by 6,600.0% in 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 in the last quarter. Joseph Group Capital Management acquired a new position in shares of American Express in the fourth quarter valued at approximately $26,000. Sfam LLC bought a new position in American Express in the 4th quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd bought a new stake in American Express during the 4th quarter worth approximately $28,000. Finally, Measured Wealth Private Client Group LLC acquired a new stake in shares of American Express in the third quarter valued at about $28,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Performance

Shares of American Express stock opened at $336.32 on Thursday. The business has a 50-day simple moving average of $343.05 and a 200 day simple moving average of $326.31. American Express Company has a one year low of $290.97 and a one year high of $387.49. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.55 and a quick ratio of 1.54. The firm has a market capitalization of $227.12 billion, a price-to-earnings ratio of 20.41, a PEG 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 EPS for the quarter, beating analysts’ consensus estimates of $4.41 by $0.12. The firm had revenue of $19.64 billion during the quarter, compared to analysts’ expectations 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 last year, the firm posted $4.08 earnings per share. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. On average, research analysts anticipate that American Express Company will post 17.67 earnings per share for the current fiscal year.

American Express Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group raised shares of American Express from a “hold” rating to a “buy” rating in a research note on Monday, July 13th. HSBC upped their price target on shares of American Express from $312.00 to $329.00 and gave the company a “hold” rating in a research report on Monday, July 13th. Evercore set a $370.00 price objective on American Express in a research report on Monday, July 27th. Morgan Stanley dropped their price objective on American Express from $385.00 to $382.00 and set an “equal weight” rating on the stock in a research note on Monday, July 27th. Finally, Piper Sandler raised their target price on American Express from $396.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, American Express has an average rating of “Moderate Buy” and a consensus price target of $373.32.

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.