Canada Pension Plan Investment Board Grows Stake in American Express (NYSE:AXP)

Canada Pension Plan Investment Board increased its holdings in American Express (NYSE:AXP) by 71.9% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,164,098 shares of the payment services company’s stock after buying an additional 486,755 shares during the period. Canada Pension Plan Investment Board owned 0.16% of American Express worth $269,547,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Scarborough Advisors LLC purchased a new position in American Express in the 4th quarter worth approximately $25,000. Sachetta LLC bought a new position in American Express in the fourth quarter valued at $29,000. Vermillion & White Wealth Management Group LLC purchased a new stake in American Express during the fourth quarter valued at about $29,000. Game Plan Financial Advisors LLC raised its stake in shares of American Express by 62.5% during the first quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock worth $30,000 after acquiring an additional 50 shares in the last quarter. Finally, Creekmur Asset Management LLC bought a new stake in American Express in the fourth quarter worth $32,000. Institutional investors own 84.33% of the company’s stock.

American Express Price Performance

Shares of AXP opened at $268.75 on Friday. The company has a market capitalization of $193.31 billion, a P/E ratio of 22.14, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. American Express has a twelve month low of $140.91 and a twelve month high of $270.10. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74. The firm has a 50 day moving average of $248.49 and a 200 day moving average of $236.62.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.23. The firm had revenue of $16.33 billion during the quarter, compared to analysts’ expectations of $16.60 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The company’s revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.89 earnings per share. As a group, equities research analysts anticipate that American Express will post 13.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AXP has been the subject of a number of recent research reports. Citigroup began coverage on American Express in a research note on Monday, June 10th. They issued a “neutral” rating and a $250.00 target price for the company. Compass Point began coverage on shares of American Express in a research note on Tuesday, July 16th. They set a “neutral” rating and a $260.00 target price on the stock. William Blair restated an “outperform” rating on shares of American Express in a report on Monday, June 3rd. Barclays upped their target price on American Express from $221.00 to $223.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 9th. Finally, Royal Bank of Canada upped their price target on American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price 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.