Epoch Investment Partners Inc. Trims Position in American Express (NYSE:AXP)

Epoch Investment Partners Inc. trimmed its holdings in shares of American Express (NYSE:AXP) by 4.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,004,025 shares of the payment services company’s stock after selling 42,879 shares during the period. American Express makes up about 1.1% of Epoch Investment Partners Inc.’s portfolio, making the stock its 15th biggest position. Epoch Investment Partners Inc.’s holdings in American Express were worth $232,482,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Cetera Advisors LLC grew its position in American Express by 119.6% during the 1st quarter. Cetera Advisors LLC now owns 39,497 shares of the payment services company’s stock worth $8,993,000 after purchasing an additional 21,508 shares during the period. Empowered Funds LLC boosted its stake in shares of American Express by 102.9% in the first quarter. Empowered Funds LLC now owns 12,480 shares of the payment services company’s stock worth $2,842,000 after buying an additional 6,329 shares during the last quarter. Sciencast Management LP acquired a new stake in American Express during the first quarter worth about $1,881,000. New Mexico Educational Retirement Board raised its position in American Express by 15.5% during the first quarter. New Mexico Educational Retirement Board now owns 35,763 shares of the payment services company’s stock valued at $8,143,000 after acquiring an additional 4,800 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its holdings in American Express by 49.0% in the first quarter. Lord Abbett & CO. LLC now owns 279,106 shares of the payment services company’s stock valued at $63,550,000 after acquiring an additional 91,760 shares during the period. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Up 0.1 %

AXP stock 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 50-day moving average of $249.10 and a two-hundred day moving average of $237.11. American Express has a 12 month low of $140.91 and a 12 month high of $271.49. The company has a market cap of $193.49 billion, a price-to-earnings ratio of 22.16, a PEG ratio of 1.42 and a beta of 1.21.

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

Wall Street Analyst Weigh In

AXP has been the topic of a number of analyst reports. Wells Fargo & Company raised their price objective on shares of American Express from $275.00 to $285.00 and gave the stock an “overweight” 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 shares of American Express in a research report on Monday, June 10th. They issued a “neutral” rating and a $250.00 price objective for the company. BTIG Research started coverage on American Express in a research report on Friday, June 7th. They set a “neutral” rating on the stock. Finally, Bank of America upped their price target on American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price 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.