Nippon Life Global Investors Americas Inc. Buys 260 Shares of American Express (NYSE:AXP)

Nippon Life Global Investors Americas Inc. lifted its stake in American Express (NYSE:AXP) by 0.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 43,070 shares of the payment services company’s stock after purchasing an additional 260 shares during the quarter. Nippon Life Global Investors Americas Inc.’s holdings in American Express were worth $9,973,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Cetera Advisors LLC lifted its holdings in American Express by 119.6% during the first quarter. Cetera Advisors LLC now owns 39,497 shares of the payment services company’s stock valued at $8,993,000 after purchasing an additional 21,508 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of American Express by 102.9% during the 1st quarter. Empowered Funds LLC now owns 12,480 shares of the payment services company’s stock valued at $2,842,000 after buying an additional 6,329 shares in the last quarter. Sciencast Management LP bought a new position in American Express in the 1st quarter worth $1,881,000. New Mexico Educational Retirement Board increased its stake in American Express by 15.5% in the 1st quarter. New Mexico Educational Retirement Board now owns 35,763 shares of the payment services company’s stock worth $8,143,000 after buying an additional 4,800 shares in the last quarter. Finally, Lord Abbett & CO. LLC raised its holdings in American Express by 49.0% during the first quarter. Lord Abbett & CO. LLC now owns 279,106 shares of the payment services company’s stock valued at $63,550,000 after acquiring an additional 91,760 shares during the period. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Price Performance

American Express stock opened at $268.99 on Monday. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.66. The stock has a market cap of $193.49 billion, a price-to-earnings ratio of 22.16, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. The firm has a 50-day moving average of $249.10 and a two-hundred day moving average of $237.24. American Express has a 1 year low of $140.91 and a 1 year high of $271.49.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, July 19th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.23. The company had revenue of $16.33 billion for 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%. American Express’s revenue was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.89 earnings per share. On average, research analysts forecast that American Express will post 13.12 earnings per share for the current year.

Analyst Ratings Changes

AXP has been the subject of several research analyst reports. Royal Bank of Canada increased their target price on American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Citigroup began coverage on shares of American Express in a research report on Monday, June 10th. They set a “neutral” rating and a $250.00 price objective on the stock. William Blair reaffirmed an “outperform” rating on shares of American Express in a research note on Monday, June 3rd. Compass Point initiated coverage on shares of American Express in a research note on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price target on the stock. Finally, Keefe, Bruyette & Woods raised their price objective on American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a research report on Monday, July 8th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $230.78.

American Express Company Profile

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.