Sei Investments Co. Purchases 29,046 Shares of American Express (NYSE:AXP)

Sei Investments Co. grew its position in American Express (NYSE:AXP) by 9.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 329,361 shares of the payment services company’s stock after buying an additional 29,046 shares during the period. Sei Investments Co.’s holdings in American Express were worth $76,262,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its holdings in American Express by 8.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock worth $1,923,399,000 after purchasing an additional 662,382 shares during the last quarter. Artisan Partners Limited Partnership grew its stake in American Express by 11.4% during the 4th quarter. Artisan Partners Limited Partnership now owns 4,855,211 shares of the payment services company’s stock worth $909,575,000 after buying an additional 496,153 shares during the last quarter. TD Asset Management Inc increased its position in American Express by 8.2% during the 1st quarter. TD Asset Management Inc now owns 2,595,370 shares of the payment services company’s stock valued at $590,940,000 after buying an additional 195,876 shares in the last quarter. Boston Partners raised its stake in American Express by 22.2% in the first quarter. Boston Partners now owns 2,129,175 shares of the payment services company’s stock valued at $485,525,000 after buying an additional 387,166 shares during the last quarter. Finally, Alphinity Investment Management Pty Ltd acquired a new stake in American Express in the first quarter worth about $433,709,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Monness Crespi & Hardt upped their price objective on shares of American Express from $260.00 to $265.00 and gave the company a “buy” rating in a report on Monday, July 22nd. BTIG Research began coverage on shares of American Express in a research note on Friday, June 7th. They set a “neutral” rating for the company. Barclays upped their target price on American Express from $221.00 to $223.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 9th. Wells Fargo & Company lifted their price target on American Express from $275.00 to $285.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods increased their price objective on American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a report on Monday, July 8th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $230.78.

American Express Stock Up 0.1 %

Shares of AXP opened at $268.99 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74. The firm has a market cap of $193.49 billion, a P/E ratio of 22.16, a PEG ratio of 1.42 and a beta of 1.21. The stock’s 50 day moving average is $249.10 and its two-hundred day moving average is $237.11. American Express has a 12 month low of $140.91 and a 12 month high of $271.49.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 EPS for the quarter, topping the consensus estimate of $3.26 by $0.23. The company had revenue of $16.33 billion during the quarter, compared to analyst estimates of $16.60 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. The firm’s revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.89 EPS. Analysts predict that American Express will post 13.12 earnings per share for the current fiscal year.

About American Express

American Express Company, together with its subsidiaries, operates as integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and Internationally. It operates through four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.