Public Sector Pension Investment Board Purchases 6,286 Shares of American Express (NYSE:AXP)

Public Sector Pension Investment Board increased its position in American Express (NYSE:AXP) by 2.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 255,403 shares of the payment services company’s stock after buying an additional 6,286 shares during the quarter. Public Sector Pension Investment Board’s holdings in American Express were worth $59,139,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in the business. Cetera Advisors LLC lifted its holdings in shares of American Express by 119.6% during the first 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 lifted its holdings in American Express by 102.9% during the 1st 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 period. Sciencast Management LP bought a new stake in shares of American Express in the 1st quarter valued at about $1,881,000. New Mexico Educational Retirement Board increased its stake in shares of American Express by 15.5% in 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 buying an additional 4,800 shares during the period. Finally, Lord Abbett & CO. LLC raised its position in shares of American Express by 49.0% during the first quarter. Lord Abbett & CO. LLC now owns 279,106 shares of the payment services company’s stock worth $63,550,000 after acquiring an additional 91,760 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

American Express Trading Up 0.1 %

NYSE:AXP opened at $268.99 on Monday. American Express has a 52 week low of $140.91 and a 52 week high of $271.49. The firm has a 50-day moving average price of $249.10 and a two-hundred day moving average price of $237.24. 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 firm has a market cap of $193.49 billion, a price-to-earnings ratio of 22.16, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 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 the consensus estimate of $16.60 billion. During the same period last year, the business posted $2.89 earnings per share. American Express’s revenue was up 9.2% on a year-over-year basis. On average, equities analysts expect 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. Bank of America upped their price objective on shares of American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Citigroup initiated coverage on shares of American Express in a research report on Monday, June 10th. They set a “neutral” rating and a $250.00 price target on the stock. Royal Bank of Canada lifted their price objective on American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. William Blair restated an “outperform” rating on shares of American Express in a research report on Monday, June 3rd. Finally, Compass Point initiated coverage on American Express in a research note on Tuesday, July 16th. They set a “neutral” rating and a $260.00 target price for the company. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target 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.