TIAA CREF Investment Management LLC lessened its position in shares of American Express (NYSE:AXP) by 12.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,169,675 shares of the payment services company’s stock after selling 450,069 shares during the quarter. TIAA CREF Investment Management LLC owned approximately 0.37% of American Express worth $314,780,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in the company. GHP Investment Advisors Inc. grew its holdings in shares of American Express by 6.8% during the 4th quarter. GHP Investment Advisors Inc. now owns 23,510 shares of the payment services company’s stock worth $2,335,000 after purchasing an additional 1,505 shares in the last quarter. Teachers Advisors LLC grew its holdings in shares of American Express by 1.9% during the 4th quarter. Teachers Advisors LLC now owns 2,326,558 shares of the payment services company’s stock worth $231,050,000 after purchasing an additional 43,147 shares in the last quarter. Captrust Financial Advisors acquired a new stake in shares of American Express during the 4th quarter worth approximately $2,783,000. Two Sigma Advisers LP grew its holdings 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 worth $37,756,000 after purchasing an additional 195,900 shares in the last quarter. Finally, Ellington Management Group LLC acquired a new stake in shares of American Express during the 4th quarter worth approximately $238,000. 84.13% of the stock is currently owned by institutional investors.
Several analysts have recently weighed in on AXP shares. Wells Fargo & Co reissued an “outperform” rating and set a $115.00 price objective (up previously from $105.00) on shares of American Express in a report on Tuesday, January 9th. ValuEngine lowered American Express from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Barclays boosted their price target on American Express from $112.00 to $119.00 in a research note on Friday, January 19th. Bank of America set a $128.00 price target on American Express and gave the company a “buy” rating in a research note on Monday, December 18th. Finally, JPMorgan Chase & Co. lowered American Express from an “overweight” rating to a “neutral” rating and set a $90.00 price target on the stock. in a research note on Friday, January 12th. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have given a buy rating to the stock. American Express presently has an average rating of “Hold” and a consensus target price of $103.26.
American Express (NYSE:AXP) opened at $95.37 on Wednesday. The stock has a market capitalization of $84,023.43, a price-to-earnings ratio of 32.89, a price-to-earnings-growth ratio of 1.33 and a beta of 1.16. American Express has a 52-week low of $75.51 and a 52-week high of $102.39. The company has a debt-to-equity ratio of 3.06, a current ratio of 1.93 and a quick ratio of 1.93.
American Express (NYSE:AXP) last released its earnings results on Thursday, January 18th. The payment services company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.04. The company had revenue of $8.84 billion during the quarter, compared to the consensus estimate of $8.73 billion. American Express had a return on equity of 26.00% and a net margin of 8.08%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.91 earnings per share. equities research analysts expect that American Express will post 7.14 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 10th. Stockholders of record on Friday, April 6th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, April 5th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.47%. American Express’s payout ratio is currently 48.28%.
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).
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