Teachers Advisors LLC raised its holdings in American Express (NYSE:AXP) by 1.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,326,558 shares of the payment services company’s stock after acquiring an additional 43,147 shares during the period. Teachers Advisors LLC owned approximately 0.27% of American Express worth $231,050,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in AXP. Captrust Financial Advisors bought a new position in shares of American Express during the 4th quarter valued at about $2,783,000. Two Sigma Advisers LP increased its position in shares of American Express by 106.3% during the 4th quarter. Two Sigma Advisers LP now owns 380,187 shares of the payment services company’s stock valued at $37,756,000 after purchasing an additional 195,900 shares during the last quarter. Ellington Management Group LLC bought a new position in American Express during the 4th quarter worth approximately $238,000. Stone Ridge Asset Management LLC bought a new position in American Express during the 4th quarter worth approximately $1,156,000. Finally, Guggenheim Capital LLC grew its position in American Express by 11.0% during the 4th quarter. Guggenheim Capital LLC now owns 525,314 shares of the payment services company’s stock worth $52,169,000 after acquiring an additional 51,850 shares during the last quarter. 84.13% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently issued reports on AXP. Zacks Investment Research upgraded American Express from a “hold” rating to a “buy” rating and set a $113.00 price target on the stock in a research report on Thursday, January 11th. Morgan Stanley raised their price target on American Express from $108.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Friday, February 2nd. Guggenheim lowered American Express from a “buy” rating to a “neutral” rating and raised their price target for the stock from $98.03 to $102.00 in a research report on Monday, January 22nd. Oppenheimer set a $117.00 price target on American Express and gave the stock a “buy” rating in a research report on Tuesday, February 20th. Finally, Deutsche Bank began coverage on American Express in a research report on Tuesday, January 2nd. They set a “buy” rating and a $118.00 price target on the stock. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $102.68.
American Express (NYSE:AXP) last released its earnings results on Thursday, January 18th. The payment services company reported $1.58 EPS for the quarter, beating the Zacks’ consensus estimate of $1.54 by $0.04. The company had revenue of $8.84 billion during the quarter, compared to analysts’ expectations of $8.73 billion. American Express had a return on equity of 26.00% and a net margin of 8.08%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 EPS. equities research analysts anticipate that American Express will post 7.14 earnings per share for the current year.
In other news, CEO Kenneth I. Chenault sold 96,440 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $97.30, for a total value of $9,383,612.00. Following the completion of the transaction, the chief executive officer now owns 1,178,333 shares in the company, valued at approximately $114,651,800.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider James Peter Bush sold 12,789 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $99.45, for a total value of $1,271,866.05. Following the completion of the transaction, the insider now owns 92,504 shares of the company’s stock, valued at approximately $9,199,522.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 122,585 shares of company stock valued at $11,973,047. 0.67% of the stock is currently owned by company insiders.
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American Express Company Profile
American Express Company, together with its subsidiaries, is a global services company. The Company’s principal products and services are charge and credit card products, and travel-related services, which are offered to consumers and businesses around the world. Its segments include the U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).
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