Sterling Capital Management LLC Purchases 124,834 Shares of American Express Company $AXP

Sterling Capital Management LLC lifted its position in shares of American Express Company (NYSE:AXP) by 1,540.6% in the first quarter, Holdings Channel reports. The institutional investor owned 132,937 shares of the payment services company’s stock after acquiring an additional 124,834 shares during the period. Sterling Capital Management LLC’s holdings in American Express were worth $40,211,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. State Street Corp increased its position in American Express by 1.3% during the fourth quarter. State Street Corp now owns 29,464,868 shares of the payment services company’s stock worth $10,900,528,000 after acquiring an additional 369,967 shares during the period. Fisher Asset Management LLC boosted its holdings in American Express by 1.6% in the 4th quarter. Fisher Asset Management LLC now owns 9,023,482 shares of the payment services company’s stock valued at $3,338,238,000 after purchasing an additional 141,936 shares during the period. Bank of America Corp DE boosted its holdings in American Express by 7.7% in the 4th quarter. Bank of America Corp DE now owns 7,850,298 shares of the payment services company’s stock valued at $2,904,218,000 after purchasing an additional 558,533 shares during the period. Capital World Investors grew its position in shares of American Express by 46.7% during the 4th quarter. Capital World Investors now owns 7,515,675 shares of the payment services company’s stock worth $2,780,424,000 after purchasing an additional 2,393,340 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of American Express during the 4th quarter worth approximately $2,464,215,000. Institutional investors own 84.33% of the company’s stock.

American Express Price Performance

Shares of NYSE:AXP opened at $341.11 on Friday. The firm has a 50 day moving average of $320.91 and a 200-day moving average of $334.24. The stock has a market capitalization of $232.75 billion, a PE ratio of 21.28, a PEG ratio of 1.41 and a beta of 1.06. The company has a current ratio of 1.57, a quick ratio of 1.56 and a debt-to-equity ratio of 1.73. American Express Company has a 12 month low of $288.34 and a 12 month high of $387.49.

American Express (NYSE:AXP) last posted its quarterly earnings results on Thursday, April 23rd. The payment services company reported $4.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.01 by $0.27. The business had revenue of $14.21 billion for the quarter, compared to analyst estimates of $18.60 billion. American Express had a net margin of 15.13% and a return on equity of 33.95%. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the business posted $3.64 EPS. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. On average, equities research analysts predict that American Express Company will post 17.64 EPS for the current fiscal year.

American Express Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Thursday, July 2nd will be paid a dividend of $0.95 per share. The ex-dividend date is Thursday, July 2nd. This represents a $3.80 annualized dividend and a yield of 1.1%. American Express’s dividend payout ratio is presently 23.71%.

Analyst Ratings Changes

A number of research firms have recently weighed in on AXP. Morgan Stanley dropped their price target on shares of American Express from $395.00 to $385.00 and set an “equal weight” rating for the company in a research report on Thursday, April 16th. Wells Fargo & Company reduced their price target on American Express from $425.00 to $415.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. DZ Bank upgraded American Express from a “hold” rating to a “buy” rating and set a $375.00 price objective on the stock in a research note on Thursday, June 18th. Freedom Capital raised American Express from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 14th. Finally, BTIG Research reiterated a “sell” rating and set a $285.00 target price on shares of American Express in a research report on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $361.55.

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.