QRG Capital Management Inc. Purchases 33,342 Shares of American Express Company $AXP

by · The Cerbat Gem

QRG Capital Management Inc. increased its holdings in American Express Company (NYSE:AXP) by 36.8% during the second quarter, HoldingsChannel reports. The institutional investor owned 124,017 shares of the payment services company’s stock after acquiring an additional 33,342 shares during the quarter. QRG Capital Management Inc.’s holdings in American Express were worth $45,382,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. increased its position in shares of American Express by 49.8% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 32,440 shares of the payment services company’s stock worth $10,973,000 after purchasing an additional 10,781 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in American Express by 62.9% during the second quarter. Envestnet Asset Management Inc. now owns 1,219,787 shares of the payment services company’s stock valued at $412,593,000 after purchasing an additional 470,791 shares during the last quarter. State Street Corp grew its stake in American Express by 40.2% in the 2nd quarter. State Street Corp now owns 40,967,262 shares of the payment services company’s stock worth $13,857,176,000 after buying an additional 11,739,541 shares in the last quarter. Silicon Valley Capital Partners grew its stake in American Express by 14.9% in the 2nd 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, Security National Bank of Sioux City Iowa IA bought a new position in shares of American Express in the 2nd quarter worth $96,000. Institutional investors own 84.33% of the company’s stock.

American Express Trading Down 1.1%

Shares of AXP traded down $3.51 during mid-day trading on Wednesday, reaching $301.56. The company’s stock had a trading volume of 3,632,702 shares, compared to its average volume of 3,236,397. American Express Company has a 52 week low of $290.97 and a 52 week high of $387.49. The stock has a market cap of $203.65 billion, a PE ratio of 18.30, a P/E/G ratio of 1.33 and a beta of 1.05. The company’s fifty day moving average price is $334.63 and its two-hundred day moving average price is $324.64. 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 – Get Free Report) last released its 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. The company had revenue of $14.99 billion for the quarter, compared to analyst estimates of $19.70 billion. American Express had a net margin of 15.07% and a return on equity of 34.12%. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm earned $4.08 EPS. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. On average, analysts predict that American Express Company will post 17.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on AXP shares. Evercore set a $370.00 price objective on shares of American Express in a research report on Monday, July 27th. DZ Bank upgraded shares of American Express from a “hold” rating to a “buy” rating and set a $375.00 target price for the company in a research report on Thursday, June 18th. BTIG Research dropped their price target on American Express from $324.00 to $315.00 and set a “sell” rating for the company in a research note on Monday, July 27th. Benchmark initiated coverage on American Express in a report on Monday, July 13th. They issued a “buy” rating for the company. Finally, Bank of America increased their price objective on American Express from $387.00 to $391.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $373.05.

View Our Latest Stock Analysis on AXP

About American Express

(Free Report)

American Express Company is a global payments and financial services company that provides payment products, services and experiences to consumers, businesses and institutions. Its offerings include credit and charge cards, consumer and commercial payment solutions, business financing, deposit products and expense-management tools.

The company also operates a global payments network connecting cardmembers, merchants and financial institutions. Through its merchant services business, American Express supports payment acceptance and provides data-driven marketing and customer-engagement solutions.

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