Elevation Point Wealth Partners LLC Makes New Investment in American Express Company $AXP

Elevation Point Wealth Partners LLC purchased a new stake in shares of American Express Company (NYSE:AXP) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 25,478 shares of the payment services company’s stock, valued at approximately $8,618,000.

Other hedge funds have also modified their holdings of the company. Alta Advisers Ltd purchased a new stake in shares of American Express in the second quarter worth $711,000. Daiichi Life Insurance Co. Ltd. bought a new stake in shares of American Express during the 2nd quarter valued at $8,449,000. Foyston Gordon & Payne Inc purchased a new position in shares of American Express during the 2nd quarter valued at $14,611,000. Commerce Bank bought a new position in American Express in the 2nd quarter worth $45,927,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in American Express in the 2nd quarter worth $80,266,000. 84.33% of the stock is currently owned by institutional investors.

American Express Trading Up 1.5%

Shares of AXP stock opened at $336.00 on Friday. American Express Company has a 12-month low of $290.97 and a 12-month high of $387.49. The company has a current ratio of 1.55, a quick ratio of 1.54 and a debt-to-equity ratio of 1.66. The stock’s 50-day moving average price is $343.19 and its 200-day moving average price is $326.83. The stock has a market capitalization of $226.90 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 1.36 and a beta of 1.04.

American Express (NYSE:AXP) last posted its 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. American Express had a return on equity of 34.12% and a net margin of 15.07%.The company had revenue of $19.64 billion for the quarter, compared to the consensus estimate of $19.70 billion. During the same period in the previous year, the business earned $4.08 earnings per share. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. Equities research analysts predict that American Express Company will post 17.67 EPS for the current fiscal year.

American Express Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have commented on AXP. Freedom Capital raised American Express from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 14th. Jefferies Financial Group raised American Express from a “hold” rating to a “buy” rating in a research note on Monday, July 13th. BTIG Research cut their target price on American Express from $324.00 to $315.00 and set a “sell” rating for the company in a research report on Monday, July 27th. Evercore set a $370.00 target price on American Express in a research note on Monday, July 27th. Finally, UBS Group lowered their price target on American Express from $386.00 to $384.00 and set a “neutral” rating on the stock in a report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $373.32.

American Express 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.