Pinnacle Holdings LLC Takes $3.25 Million Position in American Express Company $AXP

Pinnacle Holdings LLC bought a new position in shares of American Express Company (NYSE:AXP) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 9,599 shares of the payment services company’s stock, valued at approximately $3,247,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in AXP. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in American Express during the 2nd quarter worth approximately $331,213,000. LM Advisors LLC purchased a new stake in shares of American Express in the second quarter worth approximately $819,000. Haverford Trust Co bought a new position in shares of American Express in the second quarter valued at approximately $4,335,000. Clear Harbor Asset Management LLC purchased a new position in shares of American Express during the second quarter valued at approximately $1,348,000. Finally, S&G Foundation purchased a new position in shares of American Express during the second quarter valued at approximately $216,852,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AXP. Royal Bank Of Canada lowered American Express from a “moderate buy” rating to a “hold” rating in a research report on Monday, July 13th. Evercore set a $370.00 price objective on shares of American Express in a report on Monday, July 27th. Guggenheim assumed coverage on shares of American Express in a research note on Monday, July 13th. They issued a “buy” rating for the company. Bank of America increased their target price on shares of American Express from $387.00 to $391.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Finally, Morgan Stanley dropped their price target on shares of American Express from $385.00 to $382.00 and set an “equal weight” rating on the stock in a research report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $373.32.

American Express Stock Performance

Shares of AXP opened at $336.00 on Monday. The stock has a 50 day moving average of $343.19 and a 200 day moving average of $326.65. The company has a market capitalization of $226.90 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 1.36 and a beta of 1.04. 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.

American Express (NYSE:AXP) last posted its quarterly earnings data on Friday, July 24th. The payment services company reported $4.53 earnings per share for the quarter, topping the consensus estimate of $4.41 by $0.12. The business 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%.The business’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.08 earnings per share. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. As a group, sell-side analysts forecast that American Express Company will post 17.67 earnings per share for the current year.

American Express Dividend Announcement

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

About American Express

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.