American Express Company $AXP Shares Sold by Provident Trust Co.

Provident Trust Co. trimmed its holdings in shares of American Express Company (NYSE:AXP) by 31.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 631,564 shares of the payment services company’s stock after selling 289,253 shares during the period. American Express comprises about 6.0% of Provident Trust Co.’s portfolio, making the stock its 7th largest position. Provident Trust Co. owned approximately 0.09% of American Express worth $192,059,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in AXP. Woodmont Investment Counsel LLC raised its stake in American Express by 1.9% in the third quarter. Woodmont Investment Counsel LLC now owns 8,588 shares of the payment services company’s stock worth $2,611,000 after buying an additional 159 shares in the last quarter. Traynor Capital Management Inc. boosted its position in American Express by 6.0% during the 3rd quarter. Traynor Capital Management Inc. now owns 742 shares of the payment services company’s stock valued at $226,000 after acquiring an additional 42 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its position in American Express by 30.5% during the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,715 shares of the payment services company’s stock valued at $1,130,000 after acquiring an additional 869 shares in the last quarter. Columbia Bank increased its holdings in shares of American Express by 7.2% in the 3rd quarter. Columbia Bank now owns 2,826 shares of the payment services company’s stock valued at $859,000 after acquiring an additional 191 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of American Express in the 3rd quarter worth $49,417,000. Hedge funds and other institutional investors 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. Jefferies Financial Group reaffirmed a “hold” rating and set a $330.00 price objective on shares of American Express in a research report on Friday, October 23rd. Loop Capital decreased their price target on shares of American Express from $389.00 to $386.00 and set a “buy” rating for the company in a research report on Monday, July 27th. Guggenheim began coverage on shares of American Express in a research report on Monday, July 13th. They set a “buy” rating for the company. TD Cowen cut their price objective on shares of American Express from $338.00 to $335.00 and set a “hold” rating on the stock in a research report on Tuesday, October 6th. Finally, Evercore set a $330.00 price objective on shares of American Express in a research note on Tuesday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $365.19.

American Express Stock Down 0.0%

American Express stock opened at $319.03 on Monday. American Express Company has a 1-year low of $290.97 and a 1-year high of $387.49. The business has a fifty day moving average price of $317.18 and a 200-day moving average price of $326.44. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.58. The stock has a market capitalization of $213.93 billion, a price-to-earnings ratio of 17.96, a PEG ratio of 1.35 and a beta of 1.09.

American Express (NYSE:AXP) last announced its earnings results on Friday, October 23rd. The payment services company reported $4.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.50 by $0.18. American Express had a return on equity of 34.19% and a net margin of 15.80%. The company had revenue of $20.06 billion for the quarter, compared to analyst estimates of $20.12 billion. During the same period in the prior year, the company posted $4.14 EPS. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. American Express has set its FY 2026 guidance at 17.600-17.900 EPS. Equities research analysts forecast that American Express Company will post 17.88 EPS for the current fiscal year.

American Express Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 10th. Stockholders of record on Friday, October 9th will be paid a dividend of $0.95 per share. The ex-dividend date is Friday, October 9th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.2%. American Express’s payout ratio is presently 21.40%.

About American Express

American Express Company is a global financial services company that provides payment, lending, travel and expense management products and services. Its offerings include consumer and small-business charge and credit cards, corporate payment programs, business financing solutions, deposit products and digital payment services.

The company operates an integrated payments network that connects card members, merchants and financial institutions. American Express also provides merchant acquisition and payment processing services, data and analytics, fraud prevention tools, and customer loyalty programs.