Summit Wealth Partners LLC Purchases Shares of 2,257 American Express Company $AXP

Summit Wealth Partners LLC bought a new position in shares of American Express Company (NYSE:AXP) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,257 shares of the payment services company’s stock, valued at approximately $683,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Capital Asset Advisory Services LLC boosted its position in shares of American Express by 2.4% during the 4th quarter. Capital Asset Advisory Services LLC now owns 1,214 shares of the payment services company’s stock worth $465,000 after acquiring an additional 28 shares in the last quarter. Lantz Financial LLC boosted its holdings in American Express by 3.6% in the fourth quarter. Lantz Financial LLC now owns 808 shares of the payment services company’s stock valued at $299,000 after purchasing an additional 28 shares in the last quarter. Financial Management Network Inc. increased its stake in American Express by 0.8% in the fourth quarter. Financial Management Network Inc. now owns 3,740 shares of the payment services company’s stock valued at $1,394,000 after purchasing an additional 29 shares during the last quarter. Central Bank & Trust Co. lifted its position in shares of American Express by 1.1% during the 4th quarter. Central Bank & Trust Co. now owns 2,620 shares of the payment services company’s stock worth $969,000 after buying an additional 29 shares during the last quarter. Finally, Burns J W & Co. Inc. NY boosted its holdings in shares of American Express by 2.1% in the 4th quarter. Burns J W & Co. Inc. NY now owns 1,400 shares of the payment services company’s stock valued at $518,000 after buying an additional 29 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. BTIG Research reiterated a “sell” rating and set a $285.00 price target on shares of American Express in a research note on Tuesday, June 16th. Royal Bank Of Canada set a $415.00 target price on American Express in a research report on Friday, April 10th. JPMorgan Chase & Co. cut their price target on American Express from $375.00 to $325.00 and set a “neutral” rating on the stock in a research report on Thursday, April 9th. Loop Capital began coverage on American Express in a research note on Thursday, May 21st. They issued a “buy” rating and a $389.00 price objective for the company. Finally, Evercore set a $345.00 price objective on American Express in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, American Express has an average rating of “Hold” and an average target price of $360.80.

American Express Price Performance

Shares of NYSE:AXP opened at $337.66 on Tuesday. The company has a 50-day simple moving average of $319.54 and a 200-day simple moving average of $334.82. American Express Company has a one year low of $288.34 and a one year high of $387.49. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.56 and a current ratio of 1.57. The stock has a market capitalization of $230.40 billion, a price-to-earnings ratio of 21.06, a PEG ratio of 1.39 and a beta of 1.06.

American Express (NYSE:AXP) last announced its earnings results on Thursday, April 23rd. The payment services company reported $4.28 earnings per share for the quarter, topping the consensus estimate of $4.01 by $0.27. American Express had a net margin of 15.13% and a return on equity of 33.95%. The business had revenue of $14.21 billion during the quarter, compared to the consensus estimate of $18.60 billion. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.64 earnings per share. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. On average, analysts predict that American Express Company will post 17.64 EPS for the current year.

American Express Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Thursday, July 2nd will be given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, July 2nd. American Express’s dividend payout ratio (DPR) is presently 23.71%.

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.