State Street Corp Buys 11,739,541 Shares of American Express Company $AXP

State Street Corp lifted its stake in shares of American Express Company (NYSE:AXP) by 40.2% in the 2nd quarter, Holdings Channel reports. The fund owned 40,967,262 shares of the payment services company’s stock after acquiring an additional 11,739,541 shares during the quarter. State Street Corp owned 0.06% of American Express worth $13,857,176,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in AXP. Evolution Wealth Management Inc. boosted its position in American Express by 6,600.0% during the 4th quarter. Evolution Wealth Management Inc. now owns 67 shares of the payment services company’s stock worth $25,000 after acquiring an additional 66 shares during the last quarter. Archer Investment Corp bought a new position in American Express in the second quarter valued at $25,000. Frazier Financial Advisors LLC increased its stake in American Express by 66.7% in the 1st quarter. Frazier Financial Advisors LLC now owns 100 shares of the payment services company’s stock valued at $30,000 after buying an additional 40 shares during the last quarter. Whipplewood Advisors LLC boosted its stake in shares of American Express by 2,550.0% during the 1st quarter. Whipplewood Advisors LLC now owns 106 shares of the payment services company’s stock worth $32,000 after buying an additional 102 shares during the last quarter. Finally, Cedar Mountain Advisors LLC raised its holdings in American Express by 58.3% during the second quarter. Cedar Mountain Advisors LLC now owns 95 shares of the payment services company’s stock worth $32,000 after acquiring an additional 35 shares in the last quarter. 84.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AXP. Bank of America upped their price objective on American Express from $387.00 to $391.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Truist Financial boosted their price objective on shares of American Express from $360.00 to $375.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. HSBC lifted their price target on American Express from $312.00 to $329.00 and gave the stock a “hold” rating in a report on Monday, July 13th. Royal Bank Of Canada downgraded American Express from a “moderate buy” rating to a “hold” rating in a research note on Monday, July 13th. Finally, Benchmark began coverage on American Express in a report on Monday, July 13th. They set a “buy” rating for the company. One investment 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $373.32.

American Express Price Performance

Shares of American Express stock traded down $6.46 during trading on Tuesday, reaching $307.13. 1,502,176 shares of the company’s stock were exchanged, compared to its average volume of 3,213,901. American Express Company has a 1-year low of $290.97 and a 1-year high of $387.49. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.54 and a current ratio of 1.55. The firm’s 50-day moving average price is $335.62 and its 200 day moving average price is $324.69. The company has a market cap of $207.41 billion, a P/E ratio of 18.66, a PEG ratio of 1.32 and a beta of 1.05.

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