Neville Rodie & Shaw Cuts American Express Stake by 6.9% in Q3

Neville Rodie & Shaw Inc. reduced its stake in American Express Company (NYSE: AXP) by 6.9% during the third quarter, according to its latest Form 13F filing with the SEC. The institutional investor sold 4,293 shares, bringing its total holdings to 57,949 shares. American Express now represents 1.2% of Neville Rodie & Shaw Inc.'s portfolio, making it the firm's 22nd largest holding. As of the most recent filing, these shares were valued at $17,622,000.

Other major investors have recently adjusted their positions in American Express. BlackRock Inc. established a new position worth $14,208,662,000 during the second quarter. State Street Corp increased its holdings by 40.2%, now owning 40,967,262 shares valued at $13,857,176,000. Bank of America Corp DE boosted its stake by 8.4%, holding 7,969,555 shares worth $2,695,702,000. Capital World Investors raised its holdings by 46.7%, now owning 7,515,675 shares valued at $2,780,424,000. Nuveen LLC grew its position by 6.0%, now holding 5,172,484 shares worth $1,913,560,000.

On Monday, American Express shares traded up $0.63, reaching $303.41. The company reported earnings of $4.53 per share for the quarter, exceeding estimates of $4.41. Revenue for the quarter was $14.99 billion, up 10.0% year-over-year. The company has set its FY 2026 guidance at 17.300-17.900 EPS. American Express also announced a quarterly dividend of $0.95 per share, payable on November 10th to shareholders of record on October 9th.

Analysts have mixed views on American Express. Truist Financial reduced its target price to $370.00 but maintained a "buy" rating. HSBC increased its price objective to $329.00 with a "hold" rating. Loop Capital lowered its target to $386.00 with a "buy" rating. Morgan Stanley cut its target to $382.00 with an "equal weight" rating. Barclays reduced its target to $342.00 with an "equal weight" rating. Overall, the stock has an average rating of "Hold" and an average price target of $364.62.