American Express Company (NYSE:AXP), together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services. The company’s products and services also comprise merchant acquisition and processing, servicing and settlement, point-of-sale marketing, and information products and services for merchants, and fraud prevention services, as well as the design and operation of customer loyalty programs. It sells its products and services to consumers, small businesses, mid-sized companies, and large corporations through mobile and online applications, third-party vendors and business partners, direct mail, telephone, in-house sales teams, and direct response advertising. American Express Company was founded in 1850 and is headquartered in New York, New York.
- Market Cap: 105.16 billions
- EPS: 9.78
- Dividend Yield: 1.48%
American Express, known for its premium credit cards, was the second-highest issuer of general-purpose credit cards in the U.S. in 2021 based on its $868 billion purchase volume, lagging just behind JPMorgan Chase & Co., according to a chart by Nilson Report. It reported better-than-expected second-quarter results in 2022, with revenue growing 31% year over year, to $13.4 billion. American Express’ valuation is reasonable considering its stable business operations and potential for growth, analysts say. In the second quarter, it reported continuing high levels of customer retention with historically low levels of delinquencies and write-offs. Therefore, American Express has been the favorite stock to buy for long-term investors.
My top long term stock I own in my IRA.
Own American Express credit card and the stock because I believe in this for long term.