Elefante Mark B Invests $4.50 Million in American Express Company $AXP

Elefante Mark B purchased a new stake in shares of American Express Company (NYSE:AXP) during the second quarter, HoldingsChannel reports. The institutional investor purchased 13,298 shares of the payment services company’s stock, valued at approximately $4,498,000. American Express makes up about 1.9% of Elefante Mark B’s investment portfolio, making the stock its 24th largest position.

Several other institutional investors and hedge funds also recently made changes to their positions in AXP. Evolution Wealth Management Inc. increased its holdings in shares of American Express by 6,600.0% in the 4th quarter. Evolution Wealth Management Inc. now owns 67 shares of the payment services company’s stock worth $25,000 after purchasing an additional 66 shares in the last quarter. Joseph Group Capital Management bought a new position in shares of American Express during the fourth quarter valued at $26,000. Sfam LLC bought a new position in shares of American Express during the fourth quarter valued at $26,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of American Express during the fourth quarter valued at $28,000. Finally, Measured Wealth Private Client Group LLC purchased a new stake in shares of American Express during the third quarter valued at $28,000. Institutional investors own 84.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Freedom Capital raised American Express from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 14th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of American Express in a report on Monday, July 13th. Barclays lifted their price target on shares of American Express from $322.00 to $364.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 7th. Morgan Stanley lowered their price objective on shares of American Express from $385.00 to $382.00 and set an “equal weight” rating on the stock in a research report on Monday, July 27th. Finally, Bank of America raised their target price on shares of American Express from $387.00 to $391.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $373.32.

American Express Price Performance

AXP stock opened at $336.00 on Monday. American Express Company has a fifty-two week low of $290.97 and a fifty-two week high of $387.49. The business’s 50-day moving average is $343.19 and its two-hundred day moving average is $326.65. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.54 and a current ratio of 1.55. The company has a market cap of $226.90 billion, a price-to-earnings ratio of 20.39, a P/E/G ratio of 1.36 and a beta of 1.04.

American Express (NYSE:AXP) last announced its earnings results on Friday, July 24th. The payment services company reported $4.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.41 by $0.12. American Express had a return on equity of 34.12% and a net margin of 15.07%.The business had revenue of $19.64 billion for the quarter, compared to analysts’ expectations of $19.70 billion. During the same period last year, the firm posted $4.08 earnings per share. The business’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. As a group, analysts forecast that American Express Company will post 17.67 earnings per share for the current year.

American Express Announces Dividend

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

About American Express

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.