5,424 American Express Company $AXP Shares Bought by Wedmont Private Capital

Key Points

• Wedmont Private Capital increased its American Express stake by 42.9% in the third quarter, adding 5,424 shares and bringing its holdings to 18,055 shares valued at approximately $5.49 million.
• Institutional investors own 84.33% of American Express, with major firms including BlackRock, State Street and Bank of America increasing or initiating positions.
• American Express shares recently traded near $307, while analysts maintain a consensus “Hold” rating with an average price target of $364.52; the company also declared a quarterly dividend of $0.95 per share.

Wedmont Private Capital grew its stake in American Express Company (NYSE:AXP - Free Report) by 42.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,055 shares of the payment services company's stock after purchasing an additional 5,424 shares during the quarter. Wedmont Private Capital's holdings in American Express were worth $5,491,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. bought a new stake in American Express in the second quarter valued at about $14,208,662,000. State Street Corp increased its stake in shares of American Express by 40.2% in the 2nd quarter. State Street Corp now owns 40,967,262 shares of the payment services company's stock valued at $13,857,176,000 after acquiring an additional 11,739,541 shares during the last quarter. Bank of America Corp DE raised its position in shares of American Express by 8.4% in the 2nd quarter. Bank of America Corp DE now owns 7,969,555 shares of the payment services company's stock valued at $2,695,702,000 after acquiring an additional 614,981 shares during the period. Nuveen LLC grew its holdings in American Express by 6.0% during the fourth quarter. Nuveen LLC now owns 5,172,484 shares of the payment services company's stock valued at $1,913,560,000 after purchasing an additional 293,107 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in American Express by 1.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,806,554 shares of the payment services company's stock valued at $1,778,185,000 after purchasing an additional 83,083 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. UBS Group decreased their price target on shares of American Express from $384.00 to $345.00 and set a "neutral" rating for the company in a report on Monday. Citigroup cut their price objective on American Express from $355.00 to $340.00 and set a "neutral" rating on the stock in a report on Wednesday, September 30th. Weiss Ratings restated a "hold (c+)" rating on shares of American Express in a report on Monday, July 13th. HSBC upped their price target on shares of American Express from $312.00 to $329.00 and gave the company a "hold" rating in a report on Monday, July 13th. Finally, DZ Bank raised shares of American Express from a "hold" rating to a "buy" rating and set a $375.00 price objective on the stock in a research report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, American Express currently has a consensus rating of "Hold" and a consensus price target of $364.52.

More American Express News

Here are the key news stories impacting American Express this week:

• Positive Sentiment: Royal Bank of Canada maintained an “outperform” rating while lowering its price target from $415 to $400, implying substantial potential upside based on the stock’s recent trading level. Royal Bank of Canada analyst rating
• Positive Sentiment: American Express launched a new corporate platform designed to support business customers, potentially strengthening its commercial payments franchise and creating additional growth opportunities. American Express launches new corporate platform
• Neutral Sentiment: Investors are likely to focus on American Express’s quarterly results scheduled for October 23, which could clarify whether the regulatory issue affects financial guidance, expenses or customer activity. American Express earnings date
• Neutral Sentiment: American Express is advising businesses on using artificial intelligence as consumers increasingly use AI to compare products and services. The initiative may help preserve merchant relationships but has limited immediate earnings impact. Amex advises businesses on AI
• Negative Sentiment: The Office of the Comptroller of the Currency and Federal Reserve cited significant, systemic weaknesses in American Express’s anti-money-laundering program, including inadequate staffing, training, resources and internal controls. Regulators said roughly $13 billion in potentially suspicious activity was insufficiently monitored or reported over nearly 11 years. The $350 million penalty and related remediation costs create a direct financial burden and raise reputational and regulatory-risk concerns. OCC assesses penalty against American Express

American Express Stock Down 0.3%

NYSE AXP traded down $0.83 during trading hours on Friday, hitting $307.27. 1,267,398 shares of the company traded hands, compared to its average volume of 3,241,075. The business's 50-day moving average is $325.07 and its 200-day moving average is $324.99. American Express Company has a twelve month low of $290.97 and a twelve month high of $387.49. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.54 and a current ratio of 1.55. The stock has a market capitalization of $207.50 billion, a price-to-earnings ratio of 18.65, a P/E/G ratio of 1.31 and a beta of 1.08.

American Express (NYSE:AXP - Get Free Report) last posted its quarterly earnings results on Friday, July 24th. The payment services company reported $4.53 earnings per share for the quarter, topping the consensus estimate of $4.41 by $0.12. The firm had revenue of $14.99 billion for the quarter, compared to analyst estimates of $19.70 billion. American Express had a return on equity of 34.12% and a net margin of 15.07%.The business's quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.08 EPS. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. Sell-side analysts anticipate that American Express Company will post 17.67 earnings per share for the current year.

American Express Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 10th. Shareholders of record on Friday, October 9th will be given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, October 9th. American Express's dividend payout ratio is 23.06%.

About American Express

American Express Company NYSE: AXP is a global financial services company that provides payment, lending, travel and related products to consumers, small businesses and corporate customers. Its offerings include consumer and business charge and credit cards, payment solutions, commercial financing, deposit products and rewards programs.

American Express also operates a worldwide merchant network and provides businesses with payment acceptance services, transaction-processing capabilities and data-driven marketing solutions.

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