IFP Advisors Inc Has $6.73 Million Holdings in American Express Company $AXP

IFP Advisors Inc raised its stake in American Express Company (NYSE:AXP) by 12.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,897 shares of the payment services company’s stock after purchasing an additional 2,199 shares during the period. IFP Advisors Inc’s holdings in American Express were worth $6,730,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. California State Teachers Retirement System lifted its position in shares of American Express by 32,491.3% in the 2nd quarter. California State Teachers Retirement System now owns 269,392,448 shares of the payment services company’s stock worth $91,121,996,000 after acquiring an additional 268,565,871 shares during the period. BlackRock Inc. acquired a new stake in shares of American Express during the 2nd quarter worth approximately $14,208,662,000. Norges Bank bought a new stake in shares of American Express during the fourth quarter valued at approximately $2,464,215,000. Corient Private Wealth LP bought a new stake in shares of American Express during the second quarter valued at approximately $253,945,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of American Express in the second quarter valued at $1,263,787,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on AXP shares. Benchmark assumed coverage on American Express in a research report on Monday, July 13th. They issued a “buy” rating for the company. BTIG Research lowered their price target on shares of American Express from $324.00 to $315.00 and set a “sell” rating on the stock in a report on Monday, July 27th. Truist Financial increased their price objective on shares of American Express from $360.00 to $375.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. Bank of America raised their price objective on shares of American Express from $387.00 to $391.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of American Express in a research report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $373.32.

American Express Stock Performance

Shares of NYSE:AXP opened at $321.94 on Thursday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.55 and a quick ratio of 1.54. The business’s fifty day moving average price is $340.61 and its two-hundred day moving average price is $324.87. American Express Company has a fifty-two week low of $290.97 and a fifty-two week high of $387.49. The stock has a market capitalization of $217.41 billion, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 1.39 and a beta of 1.05.

American Express (NYSE:AXP) last issued its quarterly earnings data on Friday, July 24th. The payment services company reported $4.53 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $19.70 billion. During the same period last year, the business earned $4.08 earnings per share. The business’s revenue was up 10.0% on a year-over-year basis. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. As a group, analysts predict that American Express Company will post 17.68 EPS for the current fiscal year.

American Express Profile

American Express Company is a global payments and financial services company that provides payment products, services and experiences to consumers, businesses and institutions. Its offerings include credit and charge cards, consumer and commercial payment solutions, business financing, deposit products and expense-management tools.

The company also operates a global payments network connecting cardmembers, merchants and financial institutions. Through its merchant services business, American Express supports payment acceptance and provides data-driven marketing and customer-engagement solutions.