American Express Company $AXP Shares Sold by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. cut its position in shares of American Express Company (NYSE:AXP) by 1.4% during the 3rd quarter, Holdings Channel reports. The firm owned 159,352 shares of the payment services company’s stock after selling 2,308 shares during the period. Pinnacle Associates Ltd.’s holdings in American Express were worth $48,459,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of AXP. Flputnam Investment Management Co. bought a new stake in shares of American Express in the 2nd quarter worth approximately $12,879,000. State Street Corp lifted its stake in American Express by 40.2% during the second quarter. State Street Corp now owns 40,967,262 shares of the payment services company’s stock valued at $13,857,176,000 after purchasing an additional 11,739,541 shares during the last quarter. Evolve Private Wealth LLC bought a new stake in American Express during the second quarter worth approximately $5,172,000. Silicon Valley Capital Partners boosted its holdings in American Express by 14.9% during the second quarter. Silicon Valley Capital Partners now owns 41,480 shares of the payment services company’s stock worth $14,030,000 after buying an additional 5,365 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new stake in American Express during the second quarter worth approximately $11,642,000. Institutional investors own 84.33% of the company’s stock.

American Express Stock Up 0.6%

AXP opened at $318.20 on Wednesday. The company has a market capitalization of $214.89 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 1.35 and a beta of 1.08. 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 Company has a fifty-two week low of $290.97 and a fifty-two week high of $387.49. The business has a 50-day moving average of $320.21 and a 200-day moving average of $325.70.

American Express (NYSE:AXP) last announced 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 return on equity of 34.12% and a net margin of 15.07%. The business had revenue of $14.99 billion during the quarter, compared to analysts’ expectations of $19.70 billion. During the same quarter in the previous year, the business posted $4.08 EPS. The firm’s quarterly 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. Equities research analysts forecast that American Express Company will post 17.65 EPS for the current fiscal year.

American Express Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 10th. Shareholders of record on Friday, October 9th will be paid a $0.95 dividend. The ex-dividend date is Friday, October 9th. This represents a $3.80 dividend on an annualized basis and a yield of 1.2%. American Express’s payout ratio is 23.06%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on AXP shares. BMO Capital Markets initiated coverage on shares of American Express in a research report on Thursday, October 8th. They issued an “outperform” rating and a $380.00 price target on the stock. JPMorgan Chase & Co. cut their price objective on American Express from $400.00 to $360.00 and set an “overweight” rating for the company in a research report on Monday, October 12th. Guggenheim started coverage on American Express in a research report on Monday, July 13th. They set a “buy” rating for the company. Morgan Stanley reduced their price objective on American Express from $382.00 to $380.00 and set an “equal weight” rating for the company in a research note on Monday, October 12th. Finally, TD Cowen decreased their target price on American Express from $338.00 to $335.00 and set a “hold” rating on the stock in a report on Tuesday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $365.63.

American Express Profile

American Express Company is a global financial services company that provides payment, lending, travel and expense management products and services. Its offerings include consumer and small-business charge and credit cards, corporate payment programs, business financing solutions, deposit products and digital payment services.

The company operates an integrated payments network that connects card members, merchants and financial institutions. American Express also provides merchant acquisition and payment processing services, data and analytics, fraud prevention tools, and customer loyalty programs.