Brevan Howard Capital Management 13F: Cuts AXP Stake by $767K

Brevan Howard Trims American Express Position

Brevan Howard Capital Management reduced its exposure to American Express Company NYSE: AXP during the period, trimming its holdings by 13.2%. The institutional investor filed the update with the U.S. Securities and Exchange Commission, detailing portfolio moves that reflect backward-looking data from the reporting window.

Trimming the Stake

The fund cut its position by selling 2,269 shares of the credit services provider. That move brought Brevan Howard's total holdings down to 14,889 shares from a previous count of 17,158 shares. Based on market values around the filing, the remaining stake was worth about $5.04 million.

Stock Trades Near Midpoint

American Express shares traded around $338.25 recently, well above the 52-week low of $290.97 and below the peak of $387.49. The company has a price-to-earnings ratio of 19.05 and a forward P/E of 15.57. Its 50-day moving average sits at $322.00, while the 200-day moving average rests at $329.04.

Dividend and Income Details

American Express continues to return cash to shareholders through its regular dividend program. The stock offers a dividend yield of 1.21% supported by a conservative payout ratio of 21.48%.

Analysts Set New Price Targets

Wall Street firms continue to adjust their outlooks on the credit card issuer. On October 12, 2026, Morgan Stanley maintained its Equal-Weight rating with a $380 price target, down from $382. On the same day, JP Morgan kept an Overweight rating while lowering its target from $400 to $360. RBC Capital maintained an Outperform rating with a $400 target on October 9, 2026, and BMO Capital initiated coverage with an Outperform rating and a $380 target. TD Cowen maintained a Hold rating at a $335 target on October 6, 2026. UBS kept a Neutral rating and set a target of $345 on October 5, 2026, while Barclays maintained an Equal-Weight rating with a $342 target. Evercore ISI Group kept an In-Line rating with a $320 target on October 1, 2026. Overall, the stock holds a consensus buy rating with a mean target price of $369.44.

Inside American Express Operations

Founded in 1850 and headquartered in New York, American Express operates as an integrated payments company connecting consumers, small businesses, and large corporations worldwide. It generates revenue through card issuance, merchant network services, travel services, and commercial expense management solutions.

What to Watch at American Express Company

Investors will look toward the company's next earnings report scheduled for October 23, 2026, for fresh updates on consumer spending and credit performance. Because 13F filings look backward at past quarters, this snapshot may not represent the fund's current share count today.