Public Employees Retirement Association of Colorado Has $197.15 Million Stake in American Express (NYSE:AXP)

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.

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

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.

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.