Elevation Point Wealth Partners LLC Makes New $8.62 Million Investment in American Express Company $AXP

Elevation Point Wealth Partners LLC bought a new position in American Express Company (NYSE:AXP) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 25,478 shares of the payment services company’s stock, valued at approximately $8,618,000.

A number of other institutional investors have also recently made changes to their positions in the company. Evolution Wealth Management Inc. raised its holdings in 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 acquiring an additional 66 shares during the last quarter. Joseph Group Capital Management purchased a new stake in American Express during the 4th quarter valued at $26,000. Sfam LLC bought a new stake in shares of American Express in the 4th quarter worth $26,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of American Express in the 4th quarter worth $28,000. Finally, Measured Wealth Private Client Group LLC purchased a new position in shares of American Express in the third quarter worth $28,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Stock Up 1.5%

AXP opened at $336.00 on Friday. The firm’s 50 day simple moving average is $343.19 and its two-hundred day simple moving average is $326.83. The company has a market capitalization of $226.90 billion, a PE ratio of 20.39, a PEG ratio of 1.36 and a beta of 1.04. American Express Company has a 1-year low of $290.97 and a 1-year high of $387.49. The company has a current ratio of 1.55, a quick ratio of 1.54 and a debt-to-equity ratio of 1.66.

American Express (NYSE:AXP) last issued its quarterly earnings data 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. The firm had revenue of $19.64 billion during the quarter, compared to the consensus estimate of $19.70 billion. American Express had a net margin of 15.07% and a return on equity of 34.12%. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.08 EPS. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. As a group, equities analysts forecast that American Express Company will post 17.67 EPS for the current year.

American Express Announces Dividend

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%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AXP. Morgan Stanley lowered their price target 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. Weiss Ratings reissued a “hold (c+)” rating on shares of American Express in a research report on Monday, July 13th. Royal Bank Of Canada cut shares of American Express from a “moderate buy” rating to a “hold” rating in a research note on Monday, July 13th. Truist Financial raised their price target on shares of American Express from $360.00 to $375.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Finally, Jefferies Financial Group upgraded shares of American Express from a “hold” rating to a “buy” rating in a research note on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned 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 a consensus rating of “Moderate Buy” and a consensus price target 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.