Corient Private Wealth LP Makes New $253.94 Million Investment in American Express Company $AXP

Corient Private Wealth LP purchased a new position in American Express Company (NYSE:AXP) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,772,934 shares of the payment services company’s stock, valued at approximately $253,945,000.

Several other hedge funds also recently made changes to their positions in AXP. Evolution Wealth Management Inc. lifted its holdings in 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 in the last quarter. Joseph Group Capital Management purchased a new position in American Express during the 4th quarter valued at about $26,000. Sfam LLC purchased a new position in American Express during the 4th quarter valued at about $26,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of American Express during the fourth quarter valued at about $28,000. Finally, Measured Wealth Private Client Group LLC bought a new stake in shares of American Express during the third quarter valued at about $28,000. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

American Express Trading Up 0.1%

Shares of American Express stock opened at $336.32 on Thursday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.55 and a quick ratio of 1.54. American Express Company has a 1 year low of $290.97 and a 1 year high of $387.49. The firm has a market cap of $227.12 billion, a PE ratio of 20.41, a PEG ratio of 1.36 and a beta of 1.04. The company has a 50 day simple moving average of $343.05 and a two-hundred day simple moving average of $326.31.

American Express (NYSE:AXP) last posted its quarterly earnings data on Friday, July 24th. The payment services company reported $4.53 earnings per share for the quarter, beating the consensus estimate of $4.41 by $0.12. American Express had a net margin of 15.07% and a return on equity of 34.12%. The firm had revenue of $19.64 billion for the quarter, compared to analysts’ expectations of $19.70 billion. During the same quarter last year, the company posted $4.08 EPS. The business’s quarterly revenue was up 10.0% on a year-over-year basis. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. Analysts expect that American Express Company will post 17.67 earnings per share for the current fiscal year.

American Express Announces Dividend

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

Analyst Ratings Changes

A number of research firms have recently commented on AXP. HSBC raised their price objective 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. JPMorgan Chase & Co. raised shares of 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 report on Monday, July 13th. Piper Sandler increased their target price on shares of American Express from $396.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. Royal Bank Of Canada downgraded shares of American Express from a “moderate buy” rating to a “hold” rating in a report on Monday, July 13th. Finally, DZ Bank upgraded shares of American Express from a “hold” rating to a “buy” rating and set a $375.00 price target for the company in a research report on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.