American Express Company $AXP Stock: NorthCrest Asset Manangement LLC Raises Stake

Key Points

• NorthCrest Asset Management increased its American Express stake by 171.5% in the third quarter, bringing its holdings to 41,413 shares valued at approximately $12.6 million. Institutional investors collectively own 84.33% of AXP’s outstanding stock.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $365.63, although targets range widely from $230 to $391.
• American Express exceeded quarterly EPS expectations and raised revenue 10% year over year, while maintaining a $0.95 quarterly dividend; however, its bank subsidiary faces a $350 million OCC fine and remediation requirements related to anti-money-laundering controls.

NorthCrest Asset Manangement LLC increased its stake in American Express Company (NYSE:AXP - Free Report) by 171.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,413 shares of the payment services company's stock after acquiring an additional 26,158 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in American Express were worth $12,594,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Avior Wealth Management LLC raised its holdings in American Express by 0.8% during the 3rd quarter. Avior Wealth Management LLC now owns 16,599 shares of the payment services company's stock worth $5,048,000 after purchasing an additional 131 shares during the last quarter. Baldwin Wealth Partners LLC MA raised its stake in American Express by 1,178.3% during the third quarter. Baldwin Wealth Partners LLC MA now owns 8,488 shares of the payment services company's stock worth $2,581,000 after buying an additional 7,824 shares during the last quarter. Woodstock Corp lifted its holdings in American Express by 24.5% in the third quarter. Woodstock Corp now owns 5,425 shares of the payment services company's stock valued at $1,650,000 after buying an additional 1,069 shares during the period. Marquette Asset Management LLC lifted its holdings in American Express by 35.4% in the third quarter. Marquette Asset Management LLC now owns 172 shares of the payment services company's stock valued at $52,000 after buying an additional 45 shares during the period. Finally, Tilia Fiduciary Partners Inc. lifted its holdings in American Express by 4.4% in the third quarter. Tilia Fiduciary Partners Inc. now owns 8,282 shares of the payment services company's stock valued at $2,519,000 after buying an additional 350 shares during the period. 84.33% of the stock is currently owned by institutional investors.

American Express News Summary

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

• Positive Sentiment: JPMorgan maintained an “overweight” rating while lowering its price target from $400 to $360, implying approximately 15.5% potential upside from the recent trading level. JPMorgan price target report
• Positive Sentiment: American Express is reportedly expanding its Gen Z customer base about 40%, substantially faster than its Boomer customer base. Stronger younger-customer adoption could support long-term spending volumes and card growth. American Express Gen Z growth article
• Positive Sentiment: American Express was named title sponsor of the inaugural Hong Kong Sail Grand Prix, expanding its global marketing and premium-card brand exposure. The event is more strategically supportive than financially material in the near term. Hong Kong Sail Grand Prix sponsorship announcement
• Neutral Sentiment: American Express is scheduled to participate in upcoming investor conferences, potentially giving management an opportunity to discuss growth plans, regulatory remediation and its financial outlook. Investor conference announcement
• Negative Sentiment: American Express National Bank was fined $350 million by the OCC and received a cease-and-desist order over weaknesses in its anti-money-laundering controls and suspicious-activity reporting. Although the company says the action does not change near-term guidance, remediation expenses, oversight requirements and reputational risks could pressure margins and management focus. OCC AML enforcement article
• Negative Sentiment: A law firm is investigating potential shareholder claims related to the company, adding a governance and litigation overhang, although such investigations do not necessarily lead to financial recovery or formal litigation. Shareholder investigation announcement

Analysts Set New Price Targets

A number of brokerages have commented on AXP. Truist Financial cut their price target on shares of American Express from $375.00 to $370.00 and set a "buy" rating on the stock in a research report on Wednesday, September 23rd. BTIG Research dropped their price objective on American Express from $315.00 to $230.00 and set a "sell" rating on the stock in a research note on Monday, September 7th. BMO Capital Markets began coverage on American Express in a research report on Thursday. They set an "outperform" rating and a $380.00 target price on the stock. Evercore set a $320.00 target price on American Express in a research report on Thursday, October 1st. Finally, Bank of America raised their target price on American Express from $387.00 to $391.00 and gave the stock a "buy" rating in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $365.63.

American Express Stock Up 1.1%

Shares of NYSE AXP opened at $311.57 on Tuesday. The company has a quick ratio of 1.54, a current ratio of 1.55 and a debt-to-equity ratio of 1.66. The firm has a market cap of $210.41 billion, a PE ratio of 18.91, a P/E/G ratio of 1.33 and a beta of 1.08. The company's fifty day simple moving average is $323.84 and its 200 day simple moving average is $325.10. American Express Company has a 12-month low of $290.97 and a 12-month high of $387.49.

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, beating the consensus estimate of $4.41 by $0.12. American Express had a net margin of 15.07% and a return on equity of 34.12%. The firm had revenue of $14.99 billion during the quarter, compared to the consensus estimate of $19.70 billion. During the same period in the previous year, the firm posted $4.08 earnings per share. The business's revenue was up 10.0% compared to the same quarter last year. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. As a group, sell-side analysts forecast that American Express Company will post 17.67 earnings per share for the current fiscal year.

American Express Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 10th. Stockholders of record on Friday, October 9th will be paid a $0.95 dividend. The ex-dividend date is Friday, October 9th. This represents a $3.80 annualized dividend and a dividend yield of 1.2%. American Express's dividend payout ratio (DPR) is currently 23.06%.

American Express Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.