Hancock Whitney Corp Increases Position in American Express (NYSE:AXP)

Hancock Whitney Corp raised its holdings in shares of American Express (NYSE:AXP) by 8.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 72,571 shares of the payment services company’s stock after purchasing an additional 5,553 shares during the period. Hancock Whitney Corp’s holdings in American Express were worth $16,804,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Alphinity Investment Management Pty Ltd bought a new position in American Express during the 1st quarter valued at approximately $433,709,000. TD Asset Management Inc grew its stake in shares of American Express by 62.1% in the fourth quarter. TD Asset Management Inc now owns 2,399,494 shares of the payment services company’s stock worth $449,521,000 after acquiring an additional 919,337 shares during the last quarter. Public Employees Retirement Association of Colorado increased its holdings in shares of American Express by 924.2% during the second quarter. Public Employees Retirement Association of Colorado now owns 851,431 shares of the payment services company’s stock valued at $197,149,000 after acquiring an additional 768,301 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of American Express by 8.5% in the 1st 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. Finally, Bank of Nova Scotia raised its position in shares of American Express by 969.9% in the 4th quarter. Bank of Nova Scotia now owns 602,726 shares of the payment services company’s stock worth $112,910,000 after purchasing an additional 546,389 shares during the last quarter. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

American Express Price Performance

Shares of American Express stock opened at $268.95 on Friday. The stock has a market cap of $193.46 billion, a P/E ratio of 22.15, a P/E/G ratio of 1.42 and a beta of 1.21. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66. The stock’s fifty day moving average is $249.10 and its 200 day moving average is $236.97. American Express has a one year low of $140.91 and a one year high of $271.49.

American Express (NYSE:AXP) last posted its quarterly earnings data 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. American Express had a return on equity of 32.94% and a net margin of 15.53%. The firm had revenue of $16.33 billion for the quarter, compared to the consensus estimate of $16.60 billion. During the same quarter last year, the company earned $2.89 earnings per share. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. Sell-side analysts anticipate that American Express will post 13.12 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AXP. Jefferies Financial Group raised their price objective on shares of American Express from $225.00 to $235.00 and gave the company a “hold” rating in a research note on Tuesday, July 9th. Barclays raised their price target on shares of American Express from $221.00 to $223.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 9th. Citigroup started coverage on American Express in a research report on Monday, June 10th. They issued a “neutral” rating and a $250.00 price objective on the stock. William Blair reiterated an “outperform” rating on shares of American Express in a research note on Monday, June 3rd. Finally, Compass Point initiated coverage on American Express in a research note on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price target for the company. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $230.78.

American Express Company Profile

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.