Allstate Corp Acquires 22,099 Shares of American Express Company $AXP

Allstate Corp increased its holdings in shares of American Express Company (NYSE:AXP) by 108.8% during the fourth quarter, Holdings Channel reports. The fund owned 42,404 shares of the payment services company’s stock after purchasing an additional 22,099 shares during the period. Allstate Corp’s holdings in American Express were worth $15,687,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Joseph Group Capital Management bought a new stake in American Express during the 4th quarter worth approximately $26,000. Valley Wealth Managers Inc. grew its position in American Express by 153.3% during the 3rd quarter. Valley Wealth Managers Inc. now owns 76 shares of the payment services company’s stock worth $25,000 after acquiring an additional 46 shares during the last quarter. Measured Wealth Private Client Group LLC acquired a new position in American Express during the 3rd quarter worth $28,000. Guerra Advisors Inc bought a new position in American Express in the 3rd quarter valued at $28,000. Finally, Torren Management LLC bought a new position in American Express in the 4th quarter valued at $32,000. 84.33% of the stock is currently owned by institutional investors.

American Express Stock Performance

AXP stock opened at $311.98 on Tuesday. The business’s fifty day moving average is $311.56 and its 200-day moving average is $340.20. The company has a quick ratio of 1.56, a current ratio of 1.57 and a debt-to-equity ratio of 1.73. The company has a market cap of $212.87 billion, a P/E ratio of 19.46, a price-to-earnings-growth ratio of 1.27 and a beta of 1.08. American Express Company has a twelve month low of $281.46 and a twelve month high of $387.49.

American Express (NYSE:AXP) last posted its quarterly earnings results on Thursday, April 23rd. The payment services company reported $4.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.01 by $0.27. The company had revenue of $14.22 billion for the quarter, compared to the consensus estimate of $18.60 billion. American Express had a return on equity of 33.95% and a net margin of 15.13%.The firm’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.64 EPS. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. Equities research analysts forecast that American Express Company will post 17.59 EPS for the current year.

American Express Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Friday, April 3rd were paid a $0.95 dividend. This is an increase from American Express’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.2%. American Express’s dividend payout ratio (DPR) is currently 23.71%.

Analysts Set New Price Targets

A number of brokerages have commented on AXP. Weiss Ratings lowered American Express from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 15th. Wells Fargo & Company decreased their price objective on American Express from $425.00 to $415.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. UBS Group reiterated a “neutral” rating and issued a $395.00 price objective on shares of American Express in a research report on Wednesday, February 4th. JPMorgan Chase & Co. decreased their price objective 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. Finally, Freedom Capital upgraded American Express from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $359.05.

About American Express

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.