Perigon Wealth Management LLC Takes $22.61 Million Position in American Express Company $AXP

Perigon Wealth Management LLC bought a new stake in shares of American Express Company (NYSE:AXP) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 66,831 shares of the payment services company’s stock, valued at approximately $22,605,000.

Several other hedge funds have also added to or reduced their stakes in AXP. Flputnam Investment Management Co. purchased a new position in shares of American Express during the second quarter valued at approximately $12,879,000. Keybank National Association OH boosted its holdings in American Express by 3.0% in the fourth quarter. Keybank National Association OH now owns 359,261 shares of the payment services company’s stock worth $132,909,000 after purchasing an additional 10,495 shares during the last quarter. Swiss Life Asset Management Ltd grew its position in American Express by 34.1% in the 4th quarter. Swiss Life Asset Management Ltd now owns 139,887 shares of the payment services company’s stock worth $51,751,000 after purchasing an additional 35,533 shares during the period. Peapack Gladstone Financial Corp grew its position in American Express by 6.2% in the 4th quarter. Peapack Gladstone Financial Corp now owns 65,997 shares of the payment services company’s stock worth $24,416,000 after purchasing an additional 3,855 shares during the period. Finally, Thames Capital Management LLC raised its stake in American Express by 189.6% during the 4th quarter. Thames Capital Management LLC now owns 80,463 shares of the payment services company’s stock valued at $29,767,000 after buying an additional 52,679 shares during the last quarter. 84.33% of the stock is owned by institutional investors.

American Express Trading Down 1.7%

Shares of American Express stock opened at $336.50 on Tuesday. American Express Company has a 1-year low of $290.97 and a 1-year high of $387.49. The company’s fifty day simple moving average is $341.81 and its 200-day simple moving average is $327.17. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.55 and a quick ratio of 1.54. The stock has a market capitalization of $227.24 billion, a PE ratio of 20.42, a P/E/G ratio of 1.38 and a beta of 1.04.

American Express (NYSE:AXP) last posted its quarterly earnings data on Friday, July 24th. The payment services company reported $4.53 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 firm had revenue of $14.99 billion during the quarter, compared to analyst estimates of $19.70 billion. During the same period in the prior year, the business posted $4.08 EPS. American Express’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. As a group, equities analysts anticipate that American Express Company will post 17.67 earnings per share for the current year.

American Express Dividend Announcement

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

Analyst Upgrades and Downgrades

AXP has been the topic of several research analyst reports. Guggenheim began coverage on American Express in a report on Monday, July 13th. They set a “buy” rating on the stock. BTIG Research cut their price objective on American Express from $324.00 to $315.00 and set a “sell” rating for the company in a report on Monday, July 27th. Freedom Capital upgraded American Express from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 14th. Loop Capital began coverage on American Express in a report on Thursday, May 21st. They issued a “buy” rating and a $389.00 target price on the stock. Finally, Piper Sandler boosted their price target on American Express from $396.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. One equities research 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 stock. Based on data from MarketBeat.com, American Express has an average rating of “Moderate Buy” and a consensus target price of $373.32.

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.