Davis Asset Management L.P. Purchases Shares of 63,000 American Express Company $AXP

by · The Markets Daily

Davis Asset Management L.P. acquired a new position in shares of American Express Company (NYSE:AXP) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 63,000 shares of the payment services company’s stock, valued at approximately $21,310,000.

A number of other institutional investors also recently made changes to their positions in the company. Evolution Wealth Management Inc. increased its stake in shares of American Express by 6,600.0% during the fourth quarter. Evolution Wealth Management Inc. now owns 67 shares of the payment services company’s stock worth $25,000 after purchasing an additional 66 shares during the period. Joseph Group Capital Management bought a new stake in American Express in the 4th quarter valued at $26,000. Sfam LLC bought a new stake in American Express in the 4th quarter valued at $26,000. Caitong International Asset Management Co. Ltd acquired a new position in American Express in the 4th quarter valued at $28,000. Finally, Measured Wealth Private Client Group LLC bought a new position in American Express during the 3rd quarter worth $28,000. Institutional investors own 84.33% of the company’s stock.

American Express Stock Performance

AXP opened at $336.00 on Friday. The firm has a market cap of $226.90 billion, a P/E ratio of 20.39, 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 company has a debt-to-equity ratio of 1.66, a quick ratio of 1.54 and a current ratio of 1.55. The business’s fifty day moving average is $343.19 and its 200-day moving average is $326.83.

American Express (NYSE:AXP – Get Free Report) last issued its quarterly earnings results on Friday, July 24th. The payment services company reported $4.53 EPS for the quarter, topping analysts’ consensus estimates of $4.41 by $0.12. The company had revenue of $19.64 billion for the quarter, compared to analysts’ expectations of $19.70 billion. American Express had a return on equity of 34.12% and a net margin of 15.07%.American Express’s revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the business earned $4.08 earnings per share. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. Sell-side analysts expect that American Express Company will post 17.67 EPS for the current fiscal year.

American Express Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Thursday, July 2nd were issued a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, July 2nd. American Express’s dividend payout ratio (DPR) is currently 23.06%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AXP. Bank of America lifted their target price on American Express from $387.00 to $391.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Guggenheim began coverage on shares of American Express in a research note on Monday, July 13th. They issued a “buy” rating on the stock. Loop Capital began coverage on shares of American Express in a research note on Thursday, May 21st. They issued a “buy” rating and a $389.00 price objective for the company. HSBC boosted their price objective on shares of American Express from $312.00 to $329.00 and gave the company a “hold” rating in a report on Monday, July 13th. Finally, The Goldman Sachs Group increased their target price on shares of American Express from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. One 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, American Express has an average rating of “Moderate Buy” and an average price target of $373.32.

Read Our Latest Analysis on AXP

American Express Profile

(Free Report)

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.

Further Reading

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