American Express (NYSE:AXP) Shares Acquired by TIAA Trust National Association

TIAA Trust National Association increased its stake in shares of American Express (NYSE:AXP) by 159.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,479 shares of the payment services company’s stock after buying an additional 57,392 shares during the quarter. TIAA Trust National Association’s holdings in American Express were worth $21,645,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in AXP. Norges Bank acquired a new stake in shares of American Express in the 4th quarter worth about $1,112,747,000. Alphinity Investment Management Pty Ltd bought a new stake in shares of American Express during the first quarter valued at approximately $433,709,000. TD Asset Management Inc raised its holdings in shares of 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 valued at $449,521,000 after buying an additional 919,337 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in American Express by 21.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,839,276 shares of the payment services company’s stock worth $713,202,000 after buying an additional 667,695 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in 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 valued at $1,923,399,000 after acquiring an additional 662,382 shares during the period. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Stock Down 1.7 %

Shares of NYSE:AXP opened at $254.38 on Wednesday. The firm has a 50 day simple moving average of $243.44 and a 200 day simple moving average of $233.52. American Express has a 52 week low of $140.91 and a 52 week high of $261.75. 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 company has a market cap of $180.84 billion, a PE ratio of 20.95, a price-to-earnings-growth ratio of 1.45 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 (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.23. American Express had a return on equity of 32.94% and a net margin of 15.53%. The company had revenue of $16.33 billion during the quarter, compared to analyst estimates of $16.60 billion. During the same quarter in the prior year, the company earned $2.89 earnings per share. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. As a group, research analysts expect that American Express will post 13.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on AXP shares. Bank of America lowered American Express from a “buy” rating to a “neutral” rating and set a $263.00 price target for the company. in a research report on Wednesday, August 21st. Compass Point started coverage on shares of American Express in a research report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 target price for the company. Keefe, Bruyette & Woods raised their target price on shares of American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. William Blair reaffirmed an “outperform” rating on shares of American Express in a research note on Monday, June 3rd. Finally, Citigroup initiated coverage on shares of American Express in a research note on Monday, June 10th. They set a “neutral” rating and a $250.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $230.70.

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.