Teacher Retirement System of Texas Raises Position in American Express (NYSE:AXP)

Teacher Retirement System of Texas boosted its holdings in American Express (NYSE:AXP – Get Rating) by 0.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 313,591 shares of the payment services company’s stock after purchasing an additional 1,229 shares during the period. Teacher Retirement System of Texas’ holdings in American Express were worth $58,642,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SBK Financial Inc. acquired a new stake in shares of American Express during the 4th quarter worth approximately $25,000. Tyler Stone Wealth Management acquired a new stake in shares of American Express during the 4th quarter worth approximately $25,000. Blue Bell Private Wealth Management LLC increased its position in American Express by 873.3% in the 1st quarter. Blue Bell Private Wealth Management LLC now owns 146 shares of the payment services company’s stock valued at $27,000 after acquiring an additional 131 shares during the period. Perkins Coie Trust Co acquired a new stake in American Express in the 1st quarter valued at approximately $28,000. Finally, Rise Advisors LLC increased its position in American Express by 823.5% in the 1st quarter. Rise Advisors LLC now owns 157 shares of the payment services company’s stock valued at $29,000 after acquiring an additional 140 shares during the period. Hedge funds and other institutional investors own 85.49% of the company’s stock.

Insider Activity

In other news, Director Theodore Leonsis sold 4,005 shares of American Express stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $166.63, for a total transaction of $667,353.15. The sale was disclosed in a filing with the SEC, which is available at this link. 0.11% of the stock is currently owned by corporate insiders.

American Express Stock Performance

AXP opened at $157.51 on Friday. The firm has a market cap of $118.09 billion, a PE ratio of 16.15, a P/E/G ratio of 1.22 and a beta of 1.15. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.74. The business has a fifty day simple moving average of $149.59 and a 200-day simple moving average of $168.36. American Express has a fifty-two week low of $134.12 and a fifty-two week high of $199.55.

American Express (NYSE:AXP – Get Rating) last released its quarterly earnings data on Friday, July 22nd. The payment services company reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.16. The business had revenue of $13.40 billion during the quarter, compared to analyst estimates of $12.54 billion. American Express had a return on equity of 32.81% and a net margin of 15.69%. The company’s revenue was up 30.8% compared to the same quarter last year. During the same period last year, the company posted $2.80 EPS. As a group, equities analysts predict that American Express will post 9.74 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on the company. Piper Sandler lowered their target price on American Express from $202.00 to $163.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 6th. Royal Bank of Canada raised their target price on American Express from $195.00 to $200.00 and gave the company a “sector perform” rating in a research report on Monday, April 25th. Wolfe Research cut American Express from an “outperform” rating to a “peer perform” rating and lowered their target price for the company from $213.00 to $146.00 in a research report on Thursday, May 12th. Citigroup raised their target price on American Express from $148.00 to $159.00 in a research report on Tuesday, July 26th. Finally, JPMorgan Chase & Co. cut American Express from an “overweight” rating to a “neutral” rating and set a $200.00 target price on the stock. in a research report on Monday, April 11th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus 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.