Public Employees Retirement Association of Colorado increased its holdings in shares of American Express (NYSE:AXP) by 924.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 851,431 shares of the payment services company’s stock after purchasing an additional 768,301 shares during the quarter. American Express makes up about 0.8% of Public Employees Retirement Association of Colorado’s investment portfolio, making the stock its 23rd biggest holding. Public Employees Retirement Association of Colorado owned 0.12% of American Express worth $197,149,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in AXP. Alphinity Investment Management Pty Ltd acquired a new position in American Express during the first quarter worth $433,709,000. TD Asset Management Inc raised its position in American Express by 62.1% during 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 in the last quarter. Price T Rowe Associates Inc. MD raised its position in American Express by 8.5% during 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 acquiring an additional 662,382 shares in the last quarter. Bank of Nova Scotia raised its position in American Express by 969.9% during the fourth quarter. Bank of Nova Scotia now owns 602,726 shares of the payment services company’s stock worth $112,910,000 after acquiring an additional 546,389 shares in the last quarter. Finally, M&G Plc bought a new stake in American Express during the first quarter worth $114,990,000. Institutional investors and hedge funds own 84.33% of the company’s stock.
American Express Stock Up 2.5 %
Shares of NYSE AXP opened at $268.75 on Friday. American Express has a 12 month low of $140.91 and a 12 month high of $270.10. 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 capitalization of $193.31 billion, a price-to-earnings ratio of 22.14, a PEG ratio of 1.42 and a beta of 1.21. The business has a 50-day moving average of $248.49 and a 200-day moving average of $236.62.
Analyst Ratings Changes
Several analysts have issued reports on AXP shares. Jefferies Financial Group upped their price target on shares of American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a research report on Tuesday, July 9th. William Blair reaffirmed an “outperform” rating on shares of American Express in a research report on Monday, June 3rd. JPMorgan Chase & Co. increased their price objective on shares of American Express from $240.00 to $268.00 and gave the company an “overweight” rating in a research report on Monday, July 8th. Keefe, Bruyette & Woods increased their price objective on shares of American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a research report on Monday, July 8th. Finally, Citigroup began coverage on shares of American Express in a research report on Monday, June 10th. They issued a “neutral” rating and a $250.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, American Express has an average rating of “Hold” and a consensus price target of $230.78.
Get Our Latest Research Report on AXP
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.
Featured Articles
- Five stocks we like better than American Express
- What Is WallStreetBets and What Stocks Are They Targeting?
- Edgewise Therapeutics Soars 50%: Key Reasons Behind the Surge
- Why Are Stock Sectors Important to Successful Investing?
- How the Fed’s Rate Cut Could Supercharge These 3 ETFs
- How to Use Stock Screeners to Find Stocks
- Microsoft Stock: 3 Reasons It’s Ready to Crush Q4
Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express (NYSE:AXP – Free Report).
Receive News & Ratings for American Express Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Express and related companies with MarketBeat.com's FREE daily email newsletter.