New York State Common Retirement Fund Has $190 Million Position in American Express Company (AXP)

New York State Common Retirement Fund lifted its holdings in American Express Company (NYSE:AXP) by 1.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,100,370 shares of the payment services company’s stock after acquiring an additional 31,500 shares during the period. New York State Common Retirement Fund owned 0.24% of American Express worth $189,999,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in AXP. BlackRock Inc. raised its position in American Express by 2,686.0% in the 1st quarter. BlackRock Inc. now owns 44,177,867 shares of the payment services company’s stock worth $3,494,913,000 after purchasing an additional 42,592,136 shares during the period. Veritas Asset Management LLP raised its position in American Express by 15.2% in the 2nd quarter. Veritas Asset Management LLP now owns 10,303,201 shares of the payment services company’s stock worth $867,942,000 after purchasing an additional 1,358,474 shares during the period. Renaissance Technologies LLC purchased a new stake in American Express in the 2nd quarter worth about $101,526,000. Canada Pension Plan Investment Board raised its position in American Express by 944,765.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,077,147 shares of the payment services company’s stock worth $90,739,000 after purchasing an additional 1,077,033 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in American Express by 11,602.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 901,100 shares of the payment services company’s stock worth $75,909,000 after purchasing an additional 893,400 shares during the period. 83.35% of the stock is owned by hedge funds and other institutional investors.

A number of analysts recently weighed in on AXP shares. Zacks Investment Research lowered shares of American Express from a “buy” rating to a “hold” rating in a research report on Wednesday, August 30th. Morgan Stanley reduced their target price on shares of American Express from $90.00 to $89.00 and set an “equal weight” rating on the stock in a research report on Friday, September 8th. Credit Suisse Group reaffirmed an “underperform” rating and set a $84.00 target price (up from $79.00) on shares of American Express in a research report on Thursday, October 19th. Oppenheimer set a $99.00 target price on shares of American Express and gave the stock a “buy” rating in a research report on Thursday, October 19th. Finally, Stephens set a $89.00 target price on shares of American Express and gave the stock a “hold” rating in a research report on Thursday, October 19th. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the company’s stock. American Express has a consensus rating of “Hold” and an average price target of $92.44.

In related news, CEO Kenneth I. Chenault sold 96,440 shares of American Express stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $97.30, for a total transaction of $9,383,612.00. Following the transaction, the chief executive officer now directly owns 1,178,333 shares of the company’s stock, valued at $114,651,800.90. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider James Peter Bush sold 10,230 shares of American Express stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $90.55, for a total transaction of $926,326.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 440,310 shares of company stock worth $42,478,329. 0.67% of the stock is currently owned by corporate insiders.

American Express Company (NYSE:AXP) opened at $98.50 on Friday. The stock has a market cap of $85,506.31, a P/E ratio of 18.87, a P/E/G ratio of 1.64 and a beta of 1.22. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.90 and a current ratio of 1.90. American Express Company has a 1-year low of $73.50 and a 1-year high of $100.53.

American Express (NYSE:AXP) last issued its quarterly earnings data on Wednesday, October 18th. The payment services company reported $1.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.03. The company had revenue of $8.44 billion for the quarter, compared to analyst estimates of $8.31 billion. American Express had a net margin of 14.48% and a return on equity of 22.73%. American Express’s revenue was up 8.5% compared to the same quarter last year. During the same period last year, the company posted $1.24 earnings per share. equities analysts predict that American Express Company will post 5.86 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, January 5th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Thursday, January 4th. American Express’s payout ratio is 26.97%.

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American Express Company Profile

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).

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

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