The Manufacturers Life Insurance Company Purchases New Shares in American Express Company $AXP

The Manufacturers Life Insurance Company purchased a new position in shares of American Express Company (NYSE:AXP) in the second quarter, HoldingsChannel.com reports. The firm purchased 430,789 shares of the payment services company’s stock, valued at approximately $145,715,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Trajan Wealth LLC purchased a new stake in shares of American Express in the second quarter valued at about $22,932,000. Van Hulzen Asset Management LLC acquired a new stake in shares of American Express in the 2nd quarter worth $269,000. Front Street Capital Management Inc. acquired a new stake in shares of American Express in the 2nd quarter worth $220,000. Peak Asset Management LLC purchased a new stake in shares of American Express in the second quarter valued at about $1,808,000. Finally, Fiduciary Financial Advisors purchased a new stake in shares of American Express in the second quarter valued at about $424,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of American Express in a report on Monday, July 13th. Morgan Stanley lowered their price objective on American Express from $385.00 to $382.00 and set an “equal weight” rating on the stock in a report on Monday, July 27th. Bank of America boosted their target price on American Express from $387.00 to $391.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Guggenheim began coverage on American Express in a research note on Monday, July 13th. They set a “buy” rating for the company. Finally, The Goldman Sachs Group raised their price target on American Express from $360.00 to $400.00 and gave the company a “buy” rating in a report 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 given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $373.32.

American Express Stock Up 0.4%

Shares of NYSE AXP opened at $337.38 on Tuesday. The stock has a market capitalization of $227.84 billion, a price-to-earnings ratio of 20.47, a price-to-earnings-growth ratio of 1.36 and a beta of 1.04. American Express Company has a 52 week low of $290.97 and a 52 week high of $387.49. The firm has a 50-day moving average price of $343.23 and a 200 day moving average price of $326.56. The company has a quick ratio of 1.54, a current ratio of 1.55 and a debt-to-equity ratio of 1.66.

American Express (NYSE:AXP) last issued its earnings results on Friday, July 24th. The payment services company reported $4.53 earnings per share for the quarter, topping 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 period in the prior year, the business posted $4.08 earnings per share. The firm’s revenue for the quarter 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. Equities research analysts anticipate that American Express Company will post 17.67 EPS for the current fiscal year.

American Express Dividend Announcement

The company also recently declared 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 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 is currently 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.