QRG Capital Management Inc. Raises Stock Holdings in American Express Company $AXP

QRG Capital Management Inc. boosted its holdings in American Express Company (NYSE:AXP) by 36.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 124,017 shares of the payment services company’s stock after purchasing an additional 33,342 shares during the period. QRG Capital Management Inc.’s holdings in American Express were worth $45,382,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of AXP. Envestnet Portfolio Solutions Inc. raised its holdings in shares of American Express by 49.8% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 32,440 shares of the payment services company’s stock worth $10,973,000 after purchasing an additional 10,781 shares during the period. Envestnet Asset Management Inc. grew its holdings in American Express by 62.9% during the second quarter. Envestnet Asset Management Inc. now owns 1,219,787 shares of the payment services company’s stock valued at $412,593,000 after purchasing an additional 470,791 shares during the period. State Street Corp grew its holdings in American Express by 40.2% during the second quarter. State Street Corp now owns 40,967,262 shares of the payment services company’s stock valued at $13,857,176,000 after purchasing an additional 11,739,541 shares during the period. Silicon Valley Capital Partners increased its position in American Express by 14.9% in the second quarter. Silicon Valley Capital Partners now owns 41,480 shares of the payment services company’s stock worth $14,030,000 after buying an additional 5,365 shares during the last quarter. Finally, Security National Bank of Sioux City Iowa IA purchased a new stake in American Express in the second quarter worth $96,000. Institutional investors own 84.33% of the company’s stock.

American Express Stock Performance

Shares of NYSE:AXP traded down $3.51 during midday trading on Wednesday, reaching $301.56. 3,632,702 shares of the company traded hands, compared to its average volume of 3,236,397. The firm’s fifty day moving average price is $334.63 and its two-hundred day moving average price is $324.64. The firm has a market capitalization of $203.65 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 1.33 and a beta of 1.05. 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 Company has a 12 month low of $290.97 and a 12 month high of $387.49.

American Express (NYSE:AXP) last issued its earnings results on Friday, July 24th. The payment services company reported $4.53 EPS for the quarter, topping the consensus estimate of $4.41 by $0.12. American Express had a return on equity of 34.12% and a net margin of 15.07%.The business had revenue of $14.99 billion during the quarter, compared to the consensus estimate of $19.70 billion. During the same quarter last year, the company earned $4.08 EPS. The firm’s revenue was up 10.0% compared to the same quarter last year. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. On average, equities analysts expect that American Express Company will post 17.68 earnings per share for the current year.

Wall Street Analyst Weigh In

AXP has been the topic of a number of recent research reports. Truist Financial dropped their price target on American Express from $375.00 to $370.00 and set a “buy” rating on the stock in a research report on Wednesday. Weiss Ratings reissued a “hold (c+)” rating on shares of American Express in a report on Monday, July 13th. Royal Bank Of Canada cut American Express from a “moderate buy” rating to a “hold” rating in a research note on Monday, July 13th. Piper Sandler boosted their price target on shares of American Express from $396.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. Finally, Benchmark began coverage on shares of American Express in a research note on Monday, July 13th. They set a “buy” rating on the stock. One 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, American Express presently has a consensus rating of “Moderate Buy” and a consensus price target of $373.05.

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.