Cornerstone Advisors LLC Purchases 5,804 Shares of American Express Company $AXP

Cornerstone Advisors LLC increased its position in shares of American Express Company (NYSE:AXP) by 11.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 56,105 shares of the payment services company’s stock after buying an additional 5,804 shares during the period. Cornerstone Advisors LLC’s holdings in American Express were worth $17,062,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Flputnam Investment Management Co. acquired a new stake in shares of American Express during the second quarter worth about $12,879,000. State Street Corp boosted its position in shares of 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 valued at $13,857,176,000 after purchasing an additional 11,739,541 shares during the period. Evolve Private Wealth LLC acquired a new stake in shares of American Express in the 2nd quarter valued at about $5,172,000. Silicon Valley Capital Partners grew its stake in American Express by 14.9% during 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 during the last quarter. Finally, OMERS ADMINISTRATION Corp purchased a new position in American Express during the 2nd quarter worth approximately $11,642,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

Wall Street Analyst Weigh In

AXP has been the topic of several research analyst reports. Piper Sandler lifted their price target on American Express from $396.00 to $405.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 12th. JPMorgan Chase & Co. raised their target price on shares of American Express from $360.00 to $365.00 and gave the stock an “overweight” rating in a research report on Monday, October 26th. Loop Capital cut their target price on shares of American Express from $389.00 to $386.00 and set a “buy” rating on the stock in a report on Monday, July 27th. Royal Bank Of Canada reduced their price target on shares of American Express from $415.00 to $400.00 and set an “outperform” rating for the company in a research report on Friday, October 9th. Finally, BMO Capital Markets assumed coverage on shares of American Express in a research note on Thursday, October 8th. They set an “outperform” rating and a $380.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $365.42.

Insider Activity at American Express

In related news, insider Anna Marrs sold 44,910 shares of American Express stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $327.20, for a total value of $14,694,552.00. Following the transaction, the insider directly owned 20,509 shares in the company, valued at $6,710,544.80. This trade represents a 68.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Stephen Squeri sold 299,401 shares of the business’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $332.16, for a total transaction of $99,449,036.16. Following the transaction, the chief executive officer owned 60,567 shares in the company, valued at approximately $20,117,934.72. This trade represents a 83.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 414,171 shares of company stock worth $137,069,544 in the last three months. Insiders own 0.14% of the company’s stock.

American Express Stock Up 0.7%

AXP opened at $320.38 on Friday. The business has a 50 day moving average price of $315.45 and a two-hundred day moving average price of $324.64. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. The company has a market cap of $214.83 billion, a PE ratio of 18.04, a P/E/G ratio of 1.34 and a beta of 1.09. American Express Company has a 52 week low of $290.97 and a 52 week high of $387.49.

American Express (NYSE:AXP) last announced its earnings results on Friday, October 23rd. The payment services company reported $4.68 earnings per share for the quarter, beating the consensus estimate of $4.50 by $0.18. The company had revenue of $20.06 billion for the quarter, compared to the consensus estimate of $20.12 billion. American Express had a return on equity of 34.19% and a net margin of 15.80%. The company’s revenue was up 8.9% on a year-over-year basis. During the same period last year, the business posted $4.14 EPS. American Express has set its FY 2026 guidance at 17.600-17.900 EPS. As a group, research analysts anticipate that American Express Company will post 17.98 EPS for the current year.

American Express Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 10th. Investors of record on Friday, October 9th were issued a dividend of $0.95 per share. The ex-dividend date of this dividend was Friday, October 9th. This represents a $3.80 annualized dividend and a dividend yield of 1.2%. American Express’s dividend payout ratio (DPR) is currently 21.40%.

About American Express

American Express Company is a global payments and financial services company that operates a card-issuing business and a payments network. Its products and services include consumer, small-business and corporate cards, payment processing, lending, travel services and expense-management solutions. Founded in 1850 as an express mail business, the company expanded into financial services and became known for its charge cards and travel-related services. Today, it serves cardholders and businesses in the United States and markets around the world, connecting customers, merchants and financial institutions through its network.