Long Corridor Asset Management Ltd Sells 18,000 Shares of American Express Company $AXP

Long Corridor Asset Management Ltd trimmed its position in American Express Company (NYSE:AXP) by 20.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,000 shares of the payment services company’s stock after selling 18,000 shares during the quarter. American Express accounts for 1.7% of Long Corridor Asset Management Ltd’s holdings, making the stock its 4th biggest holding. Long Corridor Asset Management Ltd’s holdings in American Express were worth $25,527,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. WealthPLAN Partners LLC acquired a new position in American Express in the 4th quarter valued at $332,000. Principal Securities Inc. grew its holdings in American Express by 12.4% in the 4th quarter. Principal Securities Inc. now owns 23,486 shares of the payment services company’s stock valued at $8,688,000 after buying an additional 2,589 shares in the last quarter. Aviva PLC grew its holdings in American Express by 6.2% in the 4th quarter. Aviva PLC now owns 519,160 shares of the payment services company’s stock valued at $192,063,000 after buying an additional 30,171 shares in the last quarter. Founders Financial Alliance LLC grew its holdings in American Express by 5.1% in the 4th quarter. Founders Financial Alliance LLC now owns 3,635 shares of the payment services company’s stock valued at $1,345,000 after buying an additional 175 shares in the last quarter. Finally, Logan Capital Management Inc. grew its holdings in American Express by 1,074.8% in the 4th quarter. Logan Capital Management Inc. now owns 1,586 shares of the payment services company’s stock valued at $587,000 after buying an additional 1,451 shares in the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Price Performance

Shares of AXP stock opened at $318.95 on Friday. The company has a quick ratio of 1.56, a current ratio of 1.57 and a debt-to-equity ratio of 1.73. American Express Company has a twelve month low of $286.15 and a twelve month high of $387.49. The company has a market cap of $217.63 billion, a P/E ratio of 19.90, a P/E/G ratio of 1.27 and a beta of 1.06. The business has a fifty day simple moving average of $315.36 and a 200 day simple moving average of $336.06.

American Express (NYSE:AXP) last announced its quarterly earnings data 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. American Express had a return on equity of 33.95% and a net margin of 15.13%.The business had revenue of $14.22 billion during the quarter, compared to the consensus estimate of $18.60 billion. During the same period in the prior year, the company earned $3.64 EPS. American Express’s revenue for the quarter was up 11.4% on a year-over-year basis. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. On average, sell-side analysts forecast that American Express Company will post 17.59 EPS for the current fiscal year.

American Express Dividend Announcement

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 given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Thursday, July 2nd. American Express’s dividend payout ratio is currently 23.71%.

Analysts Set New Price Targets

AXP has been the topic of a number of research reports. The Goldman Sachs Group upped their price objective on American Express from $360.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Loop Capital started coverage on American Express in a research report on Thursday, May 21st. They set a “buy” rating and a $389.00 target price for the company. Bank of America upped their target price on American Express from $381.00 to $387.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Truist Financial cut their target price on American Express from $400.00 to $360.00 and set a “buy” rating for the company in a research report on Monday, March 23rd. Finally, Weiss Ratings downgraded American Express from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $359.05.

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.