Quantitative Investment Management LLC Invests $1.02 Million in American Express (NYSE:AXP)

Quantitative Investment Management LLC acquired a new position in shares of American Express (NYSE:AXPGet Rating) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 5,475 shares of the payment services company’s stock, valued at approximately $1,023,000.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of American Express in the fourth quarter valued at approximately $993,440,000. Invesco Ltd. increased its holdings in shares of American Express by 19.2% in the first quarter. Invesco Ltd. now owns 6,416,785 shares of the payment services company’s stock valued at $1,199,937,000 after purchasing an additional 1,032,350 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of American Express by 7.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 13,392,391 shares of the payment services company’s stock valued at $2,504,375,000 after purchasing an additional 906,904 shares in the last quarter. Lord Abbett & CO. LLC increased its holdings in shares of American Express by 112.7% in the first quarter. Lord Abbett & CO. LLC now owns 1,293,577 shares of the payment services company’s stock valued at $241,901,000 after purchasing an additional 685,478 shares in the last quarter. Finally, Guggenheim Capital LLC increased its holdings in shares of American Express by 1,051.6% in the fourth quarter. Guggenheim Capital LLC now owns 578,461 shares of the payment services company’s stock valued at $94,636,000 after purchasing an additional 528,228 shares in the last quarter. Institutional investors and hedge funds own 84.10% of the company’s stock.

American Express Trading Up 3.2 %

AXP opened at $158.44 on Friday. The stock has a market capitalization of $118.79 billion, a P/E ratio of 16.25, a P/E/G ratio of 1.19 and a beta of 1.14. American Express has a 12 month low of $134.12 and a 12 month high of $199.55. The firm’s fifty day simple moving average is $152.50 and its 200 day simple moving average is $163.74. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.74.

American Express (NYSE:AXPGet Rating) last posted its quarterly earnings data on Friday, July 22nd. The payment services company reported $2.57 EPS for the quarter, beating the consensus estimate of $2.41 by $0.16. The business had revenue of $13.40 billion for the quarter, compared to analysts’ expectations of $12.54 billion. American Express had a net margin of 15.69% and a return on equity of 32.81%. The firm’s revenue was up 30.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.80 EPS. As a group, research analysts anticipate that American Express will post 9.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

AXP has been the subject of a number of research reports. Citigroup raised their price target on shares of American Express from $148.00 to $159.00 in a report on Tuesday, July 26th. Edward Jones raised shares of American Express from a “hold” rating to a “buy” rating in a report on Monday, June 6th. Robert W. Baird raised shares of American Express from a “neutral” rating to an “outperform” rating and set a $175.00 target price for the company in a report on Friday, June 17th. Oppenheimer set a $184.00 target price on shares of American Express in a report on Tuesday, July 19th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of American Express from $220.00 to $201.00 in a report on Monday, July 11th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $181.53.

American Express Profile

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American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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