Glenview Trust Co Acquires Shares of 48,695 American Express Company $AXP

Glenview Trust Co acquired a new stake in American Express Company (NYSE:AXP) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 48,695 shares of the payment services company’s stock, valued at approximately $14,729,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in American Express during the second quarter worth $14,208,662,000. State Street Corp grew its position in shares of American Express by 1.3% in the fourth quarter. State Street Corp now owns 29,464,868 shares of the payment services company’s stock valued at $10,900,528,000 after purchasing an additional 369,967 shares during the period. Fisher Asset Management LLC increased its stake in shares of American Express by 1.6% during the fourth quarter. Fisher Asset Management LLC now owns 9,023,482 shares of the payment services company’s stock worth $3,338,238,000 after purchasing an additional 141,936 shares in the last quarter. Bank of America Corp DE raised its position in shares of American Express by 8.4% during the 2nd quarter. Bank of America Corp DE now owns 7,969,555 shares of the payment services company’s stock worth $2,695,702,000 after purchasing an additional 614,981 shares during the last quarter. Finally, Capital World Investors raised 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 purchasing an additional 2,393,340 shares during the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Trading Down 0.6%

AXP opened at $334.03 on Friday. The firm has a market capitalization of $225.57 billion, a price-to-earnings ratio of 20.27, a price-to-earnings-growth ratio of 1.36 and a beta of 1.04. The company’s 50 day simple moving average is $342.96 and its two-hundred day simple moving average is $326.13. American Express Company has a 1-year low of $290.97 and a 1-year high of $387.49. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.55 and a quick ratio of 1.54.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, July 24th. The payment services company reported $4.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $19.70 billion. During the same period in the prior year, the business earned $4.08 earnings per share. The business’s revenue was up 10.0% compared to the same quarter last year. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. Analysts expect that American Express Company will post 17.67 EPS for the current fiscal year.

American Express Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on AXP shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of American Express in a report on Monday, July 13th. Jefferies Financial Group raised American Express from a “hold” rating to a “buy” rating in a report on Monday, July 13th. Truist Financial raised their target price on American Express from $360.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. DZ Bank raised American Express from a “hold” rating to a “buy” rating and set a $375.00 price target on the stock in a research note on Thursday, June 18th. Finally, BTIG Research dropped their price target on American Express from $324.00 to $315.00 and set a “sell” rating for the company in a research report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $373.32.

American Express 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.