Castleark Management LLC Takes $9.23 Million Position in American Express Company $AXP

Castleark Management LLC purchased a new position in shares of American Express Company (NYSE:AXP) in the second quarter, HoldingsChannel.com reports. The fund purchased 27,295 shares of the payment services company’s stock, valued at approximately $9,233,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC increased its holdings in American Express by 24.4% in the fourth quarter. Brighton Jones LLC now owns 6,481 shares of the payment services company’s stock valued at $1,924,000 after purchasing an additional 1,273 shares during the last quarter. Sivia Capital Partners LLC increased its stake 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 valued at $554,000 after acquiring an additional 200 shares during the last quarter. Schnieders Capital Management LLC. acquired a new stake in shares of American Express in the 2nd quarter valued at approximately $428,000. Howland Capital Management LLC boosted its stake 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 worth $707,000 after acquiring an additional 90 shares during the last quarter. Finally, HUB Investment Partners LLC grew its holdings 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 valued at $924,000 after purchasing an additional 481 shares during the period. 84.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on AXP shares. Piper Sandler increased their target price on shares of American Express from $396.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday, August 12th. DZ Bank upgraded shares of American Express from a “hold” rating to a “buy” rating and set a $375.00 price objective for the company in a research report on Thursday, June 18th. JPMorgan Chase & Co. raised American Express from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $328.00 to $400.00 in a research note on Monday, July 13th. Weiss Ratings reiterated a “hold (c+)” rating on shares of American Express in a report on Monday, July 13th. Finally, Loop Capital started coverage on American Express in a research note on Thursday, May 21st. They issued a “buy” rating and a $389.00 target price for the company. One equities research 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 given a Sell rating to the stock. According to data from MarketBeat.com, American Express currently has an average rating of “Moderate Buy” and an average price target of $373.32.

American Express Trading Down 0.4%

Shares of NYSE:AXP opened at $336.14 on Wednesday. The firm has a market cap of $227.00 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 1.37 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’s fifty day simple moving average is $343.13 and its 200 day simple moving average is $326.44. The company has a quick ratio of 1.54, a current ratio of 1.55 and a debt-to-equity ratio of 1.66.

American Express (NYSE:AXP) last announced its earnings results on Friday, July 24th. The payment services company reported $4.53 earnings per share for the quarter, topping analysts’ consensus estimates of $4.41 by $0.12. The firm had revenue of $19.64 billion during the quarter, compared to analyst estimates of $19.70 billion. American Express had a net margin of 15.07% and a return on equity of 34.12%. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the prior year, the business earned $4.08 EPS. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. As a group, research analysts forecast 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. Investors of record on Thursday, July 2nd were issued a dividend of $0.95 per share. The ex-dividend date was Thursday, July 2nd. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.1%. American Express’s dividend payout ratio (DPR) is presently 23.06%.

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.