American Express Company $AXP is Provident Trust Co.’s 8th Largest Position

Provident Trust Co. raised its holdings in shares of American Express Company (NYSE:AXP) by 0.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 920,817 shares of the payment services company’s stock after buying an additional 3,786 shares during the quarter. American Express comprises approximately 6.5% of Provident Trust Co.’s holdings, making the stock its 8th largest holding. Provident Trust Co.’s holdings in American Express were worth $311,466,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AXP. BlackRock Inc. acquired a new position in American Express during the second quarter valued at $14,208,662,000. Norges Bank acquired a new stake in American Express during the 4th quarter worth about $2,464,215,000. Corient Private Wealth LP purchased a new position in shares of American Express during the 2nd quarter valued at about $253,945,000. Bank of New York Mellon Corp purchased a new position in shares of American Express during the 2nd quarter valued at about $1,263,787,000. Finally, Legal & General Group Plc acquired a new position in shares of American Express in the 2nd quarter valued at about $1,138,054,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

Wall Street Analyst Weigh In

AXP has been the topic of a number of recent research reports. Barclays upped their target price on American Express from $322.00 to $364.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 7th. Jefferies Financial Group raised American Express from a “hold” rating to a “buy” rating in a report on Monday, July 13th. Truist Financial upped their price objective on American Express from $360.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. BTIG Research dropped their price objective on shares of American Express from $324.00 to $315.00 and set a “sell” rating on the stock in a research note on Monday, July 27th. Finally, Freedom Capital raised shares of American Express from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 14th. 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 company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $373.32.

American Express Trading Down 0.2%

AXP stock opened at $333.64 on Friday. American Express Company has a 52-week low of $290.97 and a 52-week high of $387.49. The company has a quick ratio of 1.54, a current ratio of 1.55 and a debt-to-equity ratio of 1.66. The firm has a market cap of $225.31 billion, a P/E ratio of 20.25, a PEG ratio of 1.35 and a beta of 1.04. The company’s 50-day simple moving average is $342.85 and its 200-day simple moving average is $326.18.

American Express (NYSE:AXP) last announced its quarterly 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. The firm had revenue of $19.64 billion during the quarter, compared to analyst estimates of $19.70 billion. American Express had a return on equity of 34.12% and a net margin of 15.07%.American Express’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.08 EPS. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. As a group, equities analysts forecast that American Express Company will post 17.67 EPS for the current fiscal year.

American Express Announces Dividend

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

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.