American Express Company $AXP Shares Bought by Covenant Asset Management LLC

Posted by Geri Gentry on Oct 15th, 2026

American Express logo Covenant Asset Management LLC increased its position in American Express Company (NYSE:AXP) by 58.4% during the third quarter, Holdings Channel.com reports. The firm owned 29,302 shares of the payment services company’s stock after buying an additional 10,802 shares during the quarter. American Express accounts for approximately 1.2% of Covenant Asset Management LLC’s holdings, making the stock its 16th biggest position. Covenant Asset Management LLC’s holdings in American Express were worth $8,911,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of AXP. Archer Investment Corp bought a new stake in American Express during the 2nd quarter valued at $25,000. Elevation Wealth Partners LLC raised its holdings in American Express by 78.8% during the third quarter. Elevation Wealth Partners LLC now owns 93 shares of the payment services company’s stock worth $28,000 after buying an additional 41 shares during the last quarter. Frazier Financial Advisors LLC lifted its stake in shares of American Express by 66.7% in the first quarter. Frazier Financial Advisors LLC now owns 100 shares of the payment services company’s stock valued at $30,000 after buying an additional 40 shares in the last quarter. Evolution Wealth Management Inc. lifted its stake in shares of American Express by 58.2% in the first quarter. Evolution Wealth Management Inc. now owns 106 shares of the payment services company’s stock valued at $32,000 after buying an additional 39 shares in the last quarter. Finally, Whipplewood Advisors LLC lifted its stake in shares of American Express by 2,550.0% in the first quarter. Whipplewood Advisors LLC now owns 106 shares of the payment services company’s stock valued at $32,000 after buying an additional 102 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on AXP shares. Bank of America lifted their price objective on shares of American Express from $387.00 to $391.00 and gave the company a “buy” rating in a report on Thursday, July 9th. UBS Group lowered their target price on shares of American Express from $384.00 to $345.00 and set a “neutral” rating on the stock in a report on Monday, October 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of American Express in a research report on Friday, October 9th. President Capital raised their price target on shares of American Express from $359.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. Finally, Jefferies Financial Group upgraded American Express from a “hold” rating to a “buy” rating in a research note on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, American Express currently has a consensus rating of “Moderate Buy” and a consensus target price of $365.63.

View Our Latest Stock Report on American Express

Key Headlines Impacting American Express

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

Positive Sentiment: American Express is developing an “Intent Intelligence” framework and “Proof of Intent” token to help ensure AI agents complete only authorized purchases. If adopted broadly, the technology could reduce fraud and disputes, support safer agentic commerce and increase payment volumes. American Express Publishes Intent Intelligence Framework for Trusted Agentic Commerce
Positive Sentiment: Analysts cited in recent coverage see a consensus price target of approximately $365.63, implying upside from recent trading levels. Other commentary highlights double-digit growth and a below-average valuation multiple, while the company has raised its full-year revenue outlook. American Express Consensus Target Price
Neutral Sentiment: American Express was named title sponsor of the inaugural Hong Kong Sail Grand Prix. The agreement may strengthen brand visibility and customer engagement, but its direct financial impact is likely limited. American Express Named Title Sponsor of Hong Kong Sail Grand Prix
Neutral Sentiment: Analyst views remain mixed: some see attractive growth at the current multiple, while others question whether the stock price fully reflects the returns generated by the business. This divergence could limit near-term momentum. Analysts Conflicted on American Express
Negative Sentiment: A reported $350 million AML fine is weighing on the investment case. The penalty raises concerns about compliance costs, regulatory oversight and potential reputational damage, and is a key reason investors may view AXP as below fair value despite its earnings growth. American Express Stock May Sit Below Fair Value as AML Fine Lands

American Express Trading Down 1.1%

Shares of American Express stock opened at $306.57 on Thursday. The company has a market capitalization of $207.03 billion, a P/E ratio of 18.60, a price-to-earnings-growth ratio of 1.34 and a beta of 1.08. The stock has a fifty day simple moving average of $322.25 and a 200 day simple moving average of $325.22. American Express Company has a 12-month low of $290.97 and a 12-month high of $387.49. The company has a current ratio of 1.55, a quick ratio of 1.54 and a debt-to-equity ratio of 1.66.

American Express (NYSE:AXP – Get Free Report) last issued 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 business had revenue of $14.99 billion for 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 business’s revenue was up 10.0% on a year-over-year basis. During the same period last year, the business earned $4.08 EPS. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. On average, sell-side analysts anticipate that American Express Company will post 17.65 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 issued 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 is currently 23.06%.

American Express Profile

(Free Report)

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.