Public Sector Pension Investment Board Has $59.14 Million Stake in American Express (NYSE:AXP)

Public Sector Pension Investment Board raised its stake in shares of American Express (NYSE:AXP) by 2.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 255,403 shares of the payment services company’s stock after buying an additional 6,286 shares during the quarter. Public Sector Pension Investment Board’s holdings in American Express were worth $59,139,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Gryphon Financial Partners LLC bought a new position in shares of American Express during the fourth quarter worth $224,000. Prairieview Wealth Partners LLC bought a new position in American Express during the fourth quarter worth about $341,000. Cambridge Investment Research Advisors Inc. grew its stake in American Express by 5.0% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 79,090 shares of the payment services company’s stock valued at $14,817,000 after acquiring an additional 3,788 shares during the period. Advisory Services Network LLC increased its holdings in shares of American Express by 6.7% in the fourth quarter. Advisory Services Network LLC now owns 24,533 shares of the payment services company’s stock worth $4,596,000 after acquiring an additional 1,539 shares in the last quarter. Finally, Congress Wealth Management LLC DE increased its holdings in shares of American Express by 196.2% in the fourth quarter. Congress Wealth Management LLC DE now owns 10,046 shares of the payment services company’s stock worth $1,882,000 after acquiring an additional 6,654 shares in the last quarter. 84.33% of the stock is owned by institutional investors.

American Express Trading Up 0.1 %

AXP stock opened at $268.99 on Monday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66. American Express has a 52 week low of $140.91 and a 52 week high of $271.49. The company’s 50-day simple moving average is $249.10 and its 200 day simple moving average is $237.24. The company has a market capitalization of $193.49 billion, a PE ratio of 22.16, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21.

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

Analyst Upgrades and Downgrades

AXP has been the subject of several research analyst reports. Keefe, Bruyette & Woods boosted their price objective on American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a research report on Monday, July 8th. William Blair reissued an “outperform” rating on shares of American Express in a research report on Monday, June 3rd. Bank of America boosted their price objective on shares of American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. JPMorgan Chase & Co. increased their target price on American Express from $240.00 to $268.00 and gave the stock an “overweight” rating in a report on Monday, July 8th. Finally, Jefferies Financial Group boosted their price target on American Express from $225.00 to $235.00 and gave the company a “hold” rating in a report on Tuesday, July 9th. Three research 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 data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $230.78.

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.