American Express (NYSE:AXP) Stake Raised by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of American Express (NYSE:AXP) by 327.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,961 shares of the payment services company’s stock after purchasing an additional 18,351 shares during the period. American Express makes up 1.2% of Point72 Asia Singapore Pte. Ltd.’s portfolio, making the stock its 14th biggest holding. Point72 Asia Singapore Pte. Ltd.’s holdings in American Express were worth $5,548,000 as of its most recent SEC filing.

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

American Express Price Performance

NYSE:AXP opened at $266.49 on Wednesday. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.66. American Express has a one year low of $140.91 and a one year high of $272.41. The company has a fifty day moving average price of $249.90 and a 200 day moving average price of $237.85. The stock has a market cap of $191.69 billion, a P/E ratio of 21.95, a PEG ratio of 1.42 and a beta of 1.21.

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on AXP shares. Jefferies Financial Group upped 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. William Blair reiterated an “outperform” rating on shares of American Express in a research report on Monday, June 3rd. JPMorgan Chase & Co. increased their target price on American Express from $240.00 to $268.00 and gave the company an “overweight” rating in a report on Monday, July 8th. Citigroup initiated coverage on American Express in a report on Monday, June 10th. They set a “neutral” rating and a $250.00 price target on the stock. Finally, Monness Crespi & Hardt increased their price objective on American Express from $260.00 to $265.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock 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.