Harbor Investment Advisory LLC Sells 1,985 Shares of American Express Company $AXP

Harbor Investment Advisory LLC trimmed its stake in shares of American Express Company (NYSE:AXP) by 46.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,318 shares of the payment services company’s stock after selling 1,985 shares during the period. Harbor Investment Advisory LLC’s holdings in American Express were worth $784,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. State Street Corp increased its holdings in shares of American Express by 1.3% in 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 purchasing an additional 369,967 shares during the last quarter. Fisher Asset Management LLC boosted its stake in American Express by 1.6% during the fourth 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 buying an additional 141,936 shares during the last quarter. Bank of America Corp DE grew its holdings in American Express by 7.7% during 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 buying an additional 558,533 shares in the last quarter. Capital World Investors grew its holdings in 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 valued at $2,780,424,000 after buying an additional 2,393,340 shares in the last quarter. Finally, Norges Bank bought a new stake in American Express in the 4th quarter worth approximately $2,464,215,000. 84.33% of the stock is currently owned by institutional investors.

American Express Price Performance

NYSE:AXP opened at $348.94 on Thursday. The firm has a market capitalization of $235.64 billion, a price-to-earnings ratio of 21.17, a PEG ratio of 1.40 and a beta of 1.04. 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 business has a 50 day simple moving average of $337.07 and a 200-day simple moving average of $328.33. American Express Company has a 1 year low of $290.63 and a 1 year high of $387.49.

American Express (NYSE:AXP) last released its earnings results 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 return on equity of 34.12% and a net margin of 15.07%.The firm had revenue of $14.99 billion for the quarter, compared to the consensus estimate of $19.70 billion. During the same quarter in the previous year, the company posted $4.08 EPS. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. Equities analysts forecast that American Express Company will post 17.67 EPS for the current year.

American Express Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AXP. 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 report on Wednesday, June 24th. Morgan Stanley reduced their price target on shares of American Express from $385.00 to $382.00 and set an “equal weight” rating on the stock in a research report on Monday, July 27th. The Goldman Sachs Group upped their price target on shares of American Express from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Bank of America increased their price objective on shares of American Express from $387.00 to $391.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Finally, TD Cowen lifted their price objective on shares of American Express from $330.00 to $338.00 and gave the stock a “hold” rating in a research note on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $372.84.

American Express Company 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.