Canoe Financial LP Sells 303,244 Shares of American Express Company $AXP

Canoe Financial LP lowered its position in shares of American Express Company (NYSE:AXP) by 94.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,500 shares of the payment services company’s stock after selling 303,244 shares during the period. Canoe Financial LP’s holdings in American Express were worth $4,991,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Evolution Wealth Management Inc. raised its holdings in shares of American Express by 6,600.0% in the 4th quarter. Evolution Wealth Management Inc. now owns 67 shares of the payment services company’s stock valued at $25,000 after purchasing an additional 66 shares in the last quarter. Joseph Group Capital Management bought a new position in shares of American Express during the fourth quarter valued at approximately $26,000. Sfam LLC purchased a new position in American Express during the fourth quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd purchased a new position in American Express during the fourth quarter valued at approximately $28,000. Finally, Wilkerson Advisory Group LLC bought a new position in American Express in the fourth quarter worth approximately $29,000. 84.33% of the stock is currently owned by institutional investors.

American Express Price Performance

Shares of AXP opened at $341.11 on Monday. The company has a 50 day moving average of $320.91 and a two-hundred day moving average of $334.05. The company has a quick ratio of 1.56, a current ratio of 1.57 and a debt-to-equity ratio of 1.73. American Express Company has a twelve month low of $288.34 and a twelve month high of $387.49. The company has a market cap of $232.75 billion, a price-to-earnings ratio of 21.28, a price-to-earnings-growth ratio of 1.40 and a beta of 1.06.

American Express (NYSE:AXP) last issued its quarterly earnings results on Thursday, April 23rd. The payment services company reported $4.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.01 by $0.27. American Express had a return on equity of 33.95% and a net margin of 15.13%.The business had revenue of $14.21 billion for the quarter, compared to the consensus estimate of $18.60 billion. During the same period in the prior year, the firm posted $3.64 earnings per share. The business’s quarterly revenue was up 11.4% 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 17.64 earnings per share for the current fiscal year.

American Express Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Thursday, July 2nd will be given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, July 2nd. American Express’s dividend payout ratio is currently 23.71%.

Analysts Set New Price Targets

A number of research firms have weighed in on AXP. Bank of America upped their target price on American Express from $381.00 to $387.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Royal Bank Of Canada set a $415.00 price target on American Express in a report on Friday, April 10th. Loop Capital initiated coverage on American Express in a research report on Thursday, May 21st. They issued a “buy” rating and a $389.00 price target for the company. The Goldman Sachs Group upped their price objective on American Express from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Finally, Morgan Stanley cut their target price on American Express from $395.00 to $385.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $361.55.

American Express Company 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.