Glenview Trust Co Purchases 30,667 Shares of American Express Company $AXP

Glenview Trust Co increased its position in American Express Company (NYSE:AXP) by 170.1% in the first quarter, Holdings Channel.com reports. The firm owned 48,695 shares of the payment services company’s stock after acquiring an additional 30,667 shares during the period. Glenview Trust Co’s holdings in American Express were worth $14,729,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in American Express during the 4th quarter valued at about $2,464,215,000. Capital World Investors grew its position in shares of 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 worth $2,780,424,000 after buying an additional 2,393,340 shares during the period. Pictet Asset Management Holding SA grew its position in shares of American Express by 73.8% during the 1st quarter. Pictet Asset Management Holding SA now owns 1,451,606 shares of the payment services company’s stock worth $438,975,000 after buying an additional 616,498 shares during the period. Bank of America Corp DE raised its stake in shares of American Express by 7.7% during the fourth quarter. Bank of America Corp DE now owns 7,850,298 shares of the payment services company’s stock worth $2,904,218,000 after buying an additional 558,533 shares during the last quarter. Finally, Amundi raised its stake in shares of American Express by 23.9% during the third quarter. Amundi now owns 2,787,580 shares of the payment services company’s stock worth $925,449,000 after buying an additional 537,205 shares during the last quarter. 84.33% of the stock is owned by institutional investors.

American Express Stock Performance

Shares of NYSE:AXP opened at $351.81 on Tuesday. The firm’s 50 day simple moving average is $330.18 and its 200 day simple moving average is $330.87. American Express Company has a fifty-two week low of $288.34 and a fifty-two week high of $387.49. The company has a market capitalization of $240.05 billion, a price-to-earnings ratio of 21.95, a P/E/G ratio of 1.43 and a beta of 1.04. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.57 and a quick ratio of 1.56.

American Express (NYSE:AXP) last issued its quarterly earnings data on Thursday, April 23rd. The payment services company reported $4.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.01 by $0.27. American Express had a net margin of 15.13% and a return on equity of 33.95%. The firm had revenue of $14.21 billion during the quarter, compared to analysts’ expectations of $18.60 billion. During the same quarter in the previous year, the company earned $3.64 earnings per share. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. As a group, sell-side analysts forecast that American Express Company will post 17.67 earnings per share for the current year.

American Express Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Thursday, July 2nd will be given 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 is Thursday, July 2nd. American Express’s dividend payout ratio (DPR) is currently 23.71%.

Analysts Set New Price Targets

A number of brokerages have issued reports on AXP. Wells Fargo & Company reduced their price objective on shares of American Express from $425.00 to $415.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. UBS Group upped their target price on shares of American Express from $340.00 to $386.00 and gave the company a “neutral” rating in a research report on Tuesday, July 7th. Truist Financial increased their price target on American Express from $360.00 to $375.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. DZ Bank upgraded American Express from a “hold” rating to a “buy” rating and set a $375.00 price target on the stock in a research report on Thursday, June 18th. Finally, The Goldman Sachs Group lifted their price objective on American Express from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. 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 issued a Sell rating to the company’s stock. According to MarketBeat, American Express currently has a consensus rating of “Moderate Buy” and a consensus target price of $374.11.

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.