Westpac Banking Corp Invests $1.26 Million in American Express Company $AXP

Westpac Banking Corp bought a new position in American Express Company (NYSE:AXP) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,721 shares of the payment services company’s stock, valued at approximately $1,259,000.

Several other hedge funds have also recently made changes to their positions in the company. Cornerstone Advisory LLC increased its holdings in American Express by 2.9% in the 4th quarter. Cornerstone Advisory LLC now owns 1,017 shares of the payment services company’s stock worth $376,000 after acquiring an additional 29 shares during the last quarter. Total Clarity Wealth Management Inc. lifted its holdings in American Express by 3.4% during the fourth quarter. Total Clarity Wealth Management Inc. now owns 874 shares of the payment services company’s stock valued at $323,000 after purchasing an additional 29 shares during the last quarter. Dover Advisors LLC lifted its holdings in American Express by 0.4% during the fourth quarter. Dover Advisors LLC now owns 7,977 shares of the payment services company’s stock valued at $2,951,000 after purchasing an additional 29 shares during the last quarter. Invenio Wealth Partners LLC boosted its position 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 worth $258,000 after purchasing an additional 29 shares during the period. Finally, Geneos Wealth Management Inc. boosted its position in American Express by 1.0% during the fourth quarter. Geneos Wealth Management Inc. now owns 3,167 shares of the payment services company’s stock worth $1,172,000 after purchasing an additional 30 shares during the period. 84.33% of the stock is currently owned by institutional investors.

American Express Stock Up 1.5%

Shares of NYSE:AXP opened at $336.00 on Friday. The stock has a market capitalization of $226.90 billion, a P/E ratio of 20.39, a price-to-earnings-growth ratio of 1.36 and a beta of 1.04. The stock’s 50-day moving average price is $343.19 and its 200-day moving average price is $326.83. The company has a current ratio of 1.55, a quick ratio of 1.54 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.

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 analysts’ consensus estimates of $4.41 by $0.12. American Express had a return on equity of 34.12% and a net margin of 15.07%.The company had revenue of $19.64 billion during the quarter, compared to analyst estimates of $19.70 billion. During the same quarter in the previous year, the company posted $4.08 EPS. American Express’s revenue for the quarter was up 10.0% on a year-over-year basis. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. On average, equities analysts anticipate that American Express Company will post 17.67 earnings per share for the current year.

American Express Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on AXP shares. Barclays lifted their price target on American Express from $322.00 to $364.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of American Express in a report on Monday, July 13th. Loop Capital assumed coverage on American Express in a research note on Thursday, May 21st. They issued a “buy” rating and a $389.00 target price for the company. TD Cowen lifted their target price on American Express from $330.00 to $338.00 and gave the company a “hold” rating in a report on Tuesday, July 7th. Finally, Truist Financial upped their price target on American Express from $360.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, American Express has a consensus rating of “Moderate Buy” and an average target price 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.