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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| American Express Company | NYSE:AXP | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| -1.71 | -0.74% | 230.79 | 233.35 | 229.13 | 233.26 | 3,202,527 | 01:00:00 |
From May 2019 to May 2024
By Robin Sidel And Liz Hoffman
Investment firm ValueAct Capital Management LP has taken a roughly $1 billion stake in American Express Co., according to a person familiar with the matter, the latest example of an activist investor targeting a blue-chip firm.
It isn't clear at this point if San Francisco-based ValueAct plans to agitate for changes at the big New York-based card company, which has been led by Chief Executive Kenneth Chenault since 2001.
AmEx has seen its stock price fall 13% this year due to two high-profile losses that are expected to take a big bite out of earnings for at least the next year.
The move by ValueAct, first reported by Bloomberg, sent shares of AmEx up more than 6%, to $80.05, on the New York Stock Exchange.
Write to Robin Sidel at robin.sidel@wsj.com and Liz Hoffman at liz.hoffman@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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