Wedmont Private Capital Acquires 5,424 Shares of American Express Company $AXP

Wedmont Private Capital grew its holdings in American Express Company (NYSE:AXP) by 42.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 18,055 shares of the payment services company’s stock after acquiring an additional 5,424 shares during the period. Wedmont Private Capital’s holdings in American Express were worth $5,491,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in American Express in the 2nd quarter valued at $14,208,662,000. State Street Corp increased its holdings in shares of American Express by 40.2% in the second quarter. State Street Corp now owns 40,967,262 shares of the payment services company’s stock valued at $13,857,176,000 after purchasing an additional 11,739,541 shares during the last quarter. Corient Private Wealth LP acquired a new position in shares of American Express in the second quarter valued at $253,945,000. Bank of New York Mellon Corp acquired a new stake in shares of American Express during the 2nd quarter worth about $1,263,787,000. Finally, Legal & General Group Plc bought a new stake in shares of American Express during the 2nd quarter worth about $1,138,054,000. 84.33% of the stock is currently owned by institutional investors.

American Express Price Performance

Shares of AXP stock traded down $0.83 during trading on Friday, hitting $307.27. The company had a trading volume of 1,267,398 shares, compared to its average volume of 3,241,075. The firm has a market capitalization of $207.50 billion, a P/E ratio of 18.65, a price-to-earnings-growth ratio of 1.31 and a beta of 1.08. American Express Company has a one year low of $290.97 and a one year 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’s 50-day moving average price is $325.07 and its 200 day moving average price is $324.99.

American Express (NYSE:AXP) last announced its quarterly earnings data 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. The firm had revenue of $14.99 billion during the quarter, compared to analysts’ expectations of $19.70 billion. American Express had a return on equity of 34.12% and a net margin of 15.07%.The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.08 EPS. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. Equities analysts expect that American Express Company will post 17.67 EPS for the current fiscal year.

American Express Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AXP. TD Cowen lowered their price target on shares of American Express from $338.00 to $335.00 and set a “hold” rating on the stock in a report on Tuesday. HSBC boosted their price objective on American Express from $312.00 to $329.00 and gave the stock a “hold” rating in a report on Monday, July 13th. DZ Bank upgraded American Express from a “hold” rating to a “buy” rating and set a $375.00 target price on the stock in a research note on Thursday, June 18th. Truist Financial dropped their price target on American Express from $375.00 to $370.00 and set a “buy” rating for the company in a report on Wednesday, September 23rd. Finally, BTIG Research reduced their price target on American Express from $315.00 to $230.00 and set a “sell” rating for the company in a research note on Monday, September 7th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $364.52.

Key Stories Impacting American Express

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 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.