Teachers Retirement System of The State of Kentucky lessened its stake in shares of American Express (NYSE:AXP) by 9.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 305,857 shares of the payment services company’s stock after selling 31,300 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in American Express were worth $30,374,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in AXP. Vanguard Group Inc. increased its stake in American Express by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 50,233,957 shares of the payment services company’s stock valued at $4,231,710,000 after buying an additional 731,428 shares during the last quarter. BlackRock Inc. boosted its holdings in American Express by 1.8% in the 4th quarter. BlackRock Inc. now owns 43,090,501 shares of the payment services company’s stock valued at $4,279,318,000 after purchasing an additional 781,329 shares during the period. Fisher Asset Management LLC boosted its holdings in American Express by 2.8% in the 4th quarter. Fisher Asset Management LLC now owns 11,872,530 shares of the payment services company’s stock valued at $1,179,061,000 after purchasing an additional 325,140 shares during the period. Veritas Asset Management LLP boosted its holdings in American Express by 7.1% in the 3rd quarter. Veritas Asset Management LLP now owns 11,039,153 shares of the payment services company’s stock valued at $998,602,000 after purchasing an additional 735,952 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of American Express by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 7,700,608 shares of the payment services company’s stock worth $763,153,000 after acquiring an additional 382,691 shares during the last quarter. 84.13% of the stock is currently owned by institutional investors.
A number of analysts have recently issued reports on AXP shares. Wells Fargo & Co reaffirmed an “outperform” rating and set a $115.00 price objective (up from $105.00) on shares of American Express in a report on Tuesday, January 9th. ValuEngine downgraded shares of American Express from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Barclays boosted their price target on shares of American Express from $112.00 to $119.00 in a research note on Friday, January 19th. Bank of America set a $128.00 price objective on shares of American Express and gave the company a “buy” rating in a research report on Monday, December 18th. Finally, JPMorgan Chase & Co. cut shares of American Express from an “overweight” rating to a “neutral” rating and set a $90.00 price objective on the stock. in a research report on Friday, January 12th. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $102.68.
Shares of American Express (AXP) opened at $99.74 on Monday. American Express has a twelve month low of $75.51 and a twelve month high of $102.39. The company has a market cap of $85,210.62, a P/E ratio of 34.16, a price-to-earnings-growth ratio of 1.35 and a beta of 1.16. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 3.06.
American Express (NYSE:AXP) last announced 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. American Express had a net margin of 8.08% and a return on equity of 26.00%. The business had revenue of $8.84 billion during the quarter, compared to analysts’ expectations of $8.73 billion. During the same period in the prior year, the company earned $0.91 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. equities research analysts predict that American Express will post 7.14 EPS for the current year.
TRADEMARK VIOLATION NOTICE: This story was first published by American Banking News and is the sole property of of American Banking News. If you are viewing this story on another site, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark laws. The original version of this story can be read at https://www.americanbankingnews.com/2018/03/12/american-express-axp-shares-sold-by-teachers-retirement-system-of-the-state-of-kentucky.html.
About American Express
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).
Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express (NYSE:AXP).
Receive News & Ratings for American Express Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Express and related companies with MarketBeat.com's FREE daily email newsletter.