American Express Company $AXP Shares Purchased by Saudi Central Bank

Saudi Central Bank boosted its position in shares of American Express Company (NYSE:AXP) by 82.9% in the second quarter, HoldingsChannel.com reports. The fund owned 37,204 shares of the payment services company’s stock after acquiring an additional 16,863 shares during the quarter. Saudi Central Bank’s holdings in American Express were worth $12,584,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. Evolution Wealth Management Inc. lifted its holdings in shares of American Express by 6,600.0% during the fourth 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 during the period. Archer Investment Corp acquired a new position in American Express in the 2nd quarter worth approximately $25,000. Sfam LLC acquired a new stake in American Express during the 4th quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of American Express in the 4th quarter valued at $28,000. Finally, Measured Wealth Private Client Group LLC purchased a new stake in shares of American Express in the 3rd quarter valued at $28,000. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Stock Performance

AXP opened at $326.11 on Friday. The firm has a fifty day moving average price of $341.66 and a 200 day moving average price of $325.37. American Express Company has a 1 year low of $290.97 and a 1 year high of $387.49. The stock has a market cap of $220.23 billion, a P/E ratio of 19.79, a P/E/G ratio of 1.39 and a beta of 1.05. 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 released its quarterly earnings results on Friday, July 24th. The payment services company reported $4.53 EPS for the quarter, beating the consensus estimate of $4.41 by $0.12. American Express had a net margin of 15.07% and a return on equity of 34.12%. The company had revenue of $19.64 billion for the quarter, compared to analyst estimates of $19.70 billion. During the same quarter last year, the business earned $4.08 earnings per share. The firm’s revenue was up 10.0% on a year-over-year basis. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. Equities research analysts anticipate that American Express Company will post 17.68 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AXP. Truist Financial raised their target price on shares of American Express from $360.00 to $375.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. HSBC upped their price target on shares of American Express from $312.00 to $329.00 and gave the company a “hold” rating in a report on Monday, July 13th. Evercore set a $370.00 price objective on American Express in a research note on Monday, July 27th. Piper Sandler boosted 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. Finally, Jefferies Financial Group upgraded American Express from a “hold” rating to a “buy” rating in a research note on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, American Express currently has an average rating of “Moderate Buy” and a consensus target price of $373.32.

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.