NewEdge Wealth LLC Sells 16,061 Shares of American Express Company $AXP

NewEdge Wealth LLC lessened its position in American Express Company (NYSE:AXP) by 40.6% in the first quarter, HoldingsChannel reports. The firm owned 23,497 shares of the payment services company’s stock after selling 16,061 shares during the quarter. NewEdge Wealth LLC’s holdings in American Express were worth $7,107,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in AXP. Brighton Jones LLC lifted its position in American Express by 24.4% during the fourth quarter. Brighton Jones LLC now owns 6,481 shares of the payment services company’s stock valued at $1,924,000 after buying an additional 1,273 shares during the period. Sivia Capital Partners LLC grew its position in shares of American Express by 13.0% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,738 shares of the payment services company’s stock worth $554,000 after buying an additional 200 shares during the period. Schnieders Capital Management LLC. bought a new position in shares of American Express in the 2nd quarter worth about $428,000. Howland Capital Management LLC lifted its position in American Express by 4.2% during the 2nd quarter. Howland Capital Management LLC now owns 2,216 shares of the payment services company’s stock valued at $707,000 after acquiring an additional 90 shares during the period. Finally, HUB Investment Partners LLC boosted its stake in American Express by 19.9% during the second quarter. HUB Investment Partners LLC now owns 2,898 shares of the payment services company’s stock worth $924,000 after acquiring an additional 481 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors.

Trending Headlines about American Express

Here are the key news stories impacting American Express this week:

• Positive Sentiment: American Express announced a new global partnership with ALL Accor that will add elite status matching and Membership Rewards points transfers for eligible cardholders, expanding the appeal of its premium travel and loyalty ecosystem. American Express and ALL Accor Expand the Power of Membership with New Global Partnership
• Positive Sentiment: American Express also expanded its B2B payments tools, including new automation features and a Bottomline partnership, which could strengthen commercial payments growth and improve efficiency. Here’s How AXP Strengthens Its B2B Payments Beyond the Platinum Card
• Positive Sentiment: Jim Cramer highlighted strong travel spending trends as a tailwind for American Express, pointing to its premium cardholder base and high-margin annual-fee model. Jim Cramer Highlights Strong Travel Numbers as Fuel for American Express
• Neutral Sentiment: Multiple previews say investors are focused on Friday’s Q2 earnings release, with analysts watching for results to confirm whether spending strength and credit quality can support the stock’s recent momentum. American Express (AXP) Reports Q2 Earnings Tomorrow. Let’s See What Analysts Expect.
• Neutral Sentiment: Options traders are pricing in a sizable post-earnings move, signaling elevated expectations and the potential for volatility after the report. What American Express (AXP) Options Traders Are Expecting Ahead of Earnings
• Negative Sentiment: Near-term trading may stay cautious because the company is entering earnings with investors debating whether the print will meet high expectations, which can pressure the shares if results disappoint. Will American Express Stock Rise or Fall After Earnings?

American Express Stock Performance

AXP stock opened at $340.61 on Friday. The stock has a market capitalization of $232.41 billion, a PE ratio of 21.25, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04. The stock’s 50 day simple moving average is $332.26 and its 200 day simple moving average is $330.36. American Express Company has a 12-month low of $288.34 and a 12-month high of $387.49. The company has a current ratio of 1.57, a quick ratio of 1.56 and a debt-to-equity ratio of 1.73.

American Express (NYSE:AXP) last posted its quarterly earnings results on Thursday, April 23rd. The payment services company reported $4.28 earnings per share for the quarter, topping the consensus estimate of $4.01 by $0.27. The firm had revenue of $14.21 billion during the quarter, compared to analysts’ expectations of $18.60 billion. American Express had a return on equity of 33.95% and a net margin of 15.13%.The company’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.64 earnings per share. As a group, research analysts forecast that American Express Company will post 17.67 earnings per share for the current fiscal year.

American Express Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Thursday, July 2nd will be issued a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 1.1%. The ex-dividend date is Thursday, July 2nd. American Express’s dividend payout ratio (DPR) is presently 23.71%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AXP. Evercore started coverage on American Express in a research report on Monday, July 13th. They set a “neutral” rating for the company. Weiss Ratings reissued a “hold (c+)” rating on shares of American Express in a report on Monday, July 13th. Piper Sandler cut American Express from an “overweight” rating to a “hold” rating in a research note on Monday, July 13th. HSBC lifted their price target on American Express from $312.00 to $329.00 and gave the stock a “hold” rating in a research report on Monday, July 13th. Finally, The Goldman Sachs Group upped their price target on shares of American Express from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. 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 issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $374.11.

American Express Company 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.