Port Capital Takes Notice of American Express
American Express Company (NYSE: AXP) has gained the attention of institutional investors, particularly Port Capital LLC. According to its latest SEC filing, Port Capital acquired a new position in American Express during the second quarter, consisting of 99,114 shares valued at approximately $33,525,000.
This acquisition accounts for about 1.4% of Port Capital's portfolio and makes it the company's 28th largest position. Several other hedge funds have also increased their holdings in American Express, including Freestone Grove Partners LP, Caisse de depot et placement du Quebec, Gallagher Fiduciary Advisors LLC, Pointe Capital Management LLC, and Odyssean LLC.
The payment services company has a strong financial standing, with a net margin of 15.07% and a return on equity of 34.12%. American Express recently released its quarterly earnings data, reporting $4.53 earnings per share (EPS) for the quarter, beating the consensus estimate by $0.12.
The company has set its FY 2026 guidance at 17.300-17.900 EPS and has a market cap of $227.12 billion. With an average rating of 'Moderate Buy' among analysts, American Express currently has a consensus price target of $373.32.