K.J. Harrison & Partners Inc Takes Position in American Express Company $AXP

K.J. Harrison & Partners Inc purchased a new stake in American Express Company (NYSE:AXP) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 3,072 shares of the payment services company’s stock, valued at approximately $1,039,000.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in American Express in the 2nd quarter valued at $14,208,662,000. Norges Bank purchased a new position in shares of American Express during the 4th quarter worth $2,464,215,000. Bank of New York Mellon Corp purchased a new position in shares of American Express during the 2nd quarter worth $1,263,787,000. Deutsche Bank AG acquired a new position in shares of American Express during the 2nd quarter valued at about $927,950,000. Finally, Capital World Investors grew its holdings in shares of American Express by 46.7% in the fourth quarter. Capital World Investors now owns 7,515,675 shares of the payment services company’s stock valued at $2,780,424,000 after purchasing an additional 2,393,340 shares during the period. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AXP. Morgan Stanley cut their price objective on shares of American Express from $385.00 to $382.00 and set an “equal weight” rating for the company in a research report on Monday, July 27th. Jefferies Financial Group raised shares of American Express from a “hold” rating to a “buy” rating in a research note on Monday, July 13th. Evercore set a $370.00 price target on shares of American Express in a report on Monday, July 27th. Guggenheim initiated coverage on shares of American Express in a research report on Monday, July 13th. They set a “buy” rating on the stock. Finally, Piper Sandler upped their price objective on American Express from $396.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, American Express has a consensus rating of “Moderate Buy” and a consensus target price of $373.32.

American Express Stock Down 1.7%

Shares of NYSE:AXP opened at $336.50 on Tuesday. The company has a market capitalization of $227.24 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 1.38 and a beta of 1.04. American Express Company has a 12-month low of $290.97 and a 12-month high of $387.49. The business has a 50-day moving average price of $341.81 and a 200 day moving average price of $327.17. 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 (NYSE:AXP) last posted its earnings results on Friday, July 24th. The payment services company reported $4.53 EPS for the quarter, beating analysts’ consensus estimates of $4.41 by $0.12. The company had revenue of $14.99 billion for the quarter, compared to analysts’ expectations of $19.70 billion. American Express had a net margin of 15.07% and a return on equity of 34.12%. American Express’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.08 earnings per share. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. Sell-side analysts expect that American Express Company will post 17.67 EPS for the current year.

American Express Dividend Announcement

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