American Express (NYSE:AXP) Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its stake in American Express (NYSE:AXP) by 32.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 276,026 shares of the payment services company’s stock after acquiring an additional 68,033 shares during the period. Renaissance Technologies LLC’s holdings in American Express were worth $63,914,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in AXP. Game Plan Financial Advisors LLC raised its stake in shares of American Express by 62.5% in the 1st quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock valued at $30,000 after purchasing an additional 50 shares in the last quarter. Scarborough Advisors LLC bought a new stake in American Express in the fourth quarter valued at about $25,000. Sachetta LLC acquired a new stake in American Express during the fourth quarter valued at approximately $29,000. Vermillion & White Wealth Management Group LLC bought a new position in American Express during the 4th quarter worth approximately $29,000. Finally, DHJJ Financial Advisors Ltd. grew its position in shares of American Express by 42.2% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock worth $38,000 after acquiring an additional 49 shares in the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Stock Performance

Shares of NYSE AXP opened at $265.49 on Wednesday. American Express has a 1 year low of $140.91 and a 1 year high of $267.22. The firm has a market cap of $190.97 billion, a P/E ratio of 21.87, a PEG ratio of 1.42 and a beta of 1.21. The stock has a fifty day moving average price of $247.42 and a two-hundred day moving average price of $236.22. 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 (NYSE:AXP) last announced its earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, beating 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 business had revenue of $16.33 billion during the quarter, compared to analysts’ expectations of $16.60 billion. During the same quarter last year, the business posted $2.89 earnings per share. The company’s quarterly revenue was up 9.2% on a year-over-year basis. Research analysts forecast that American Express will post 13.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods upped their price target on American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a research report on Monday, July 8th. Wells Fargo & Company raised their price target on shares of American Express from $275.00 to $285.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Citigroup assumed coverage on shares of American Express in a research report on Monday, June 10th. They set a “neutral” rating and a $250.00 price objective for the company. Bank of America raised their target price on shares of American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Monness Crespi & Hardt upped their target price on American Express from $260.00 to $265.00 and gave the company a “buy” rating in a report on Monday, July 22nd. 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 company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $230.78.

American Express 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.