Waratah Capital Advisors Ltd. Makes New Investment in American Express (NYSE:AXP)

Waratah Capital Advisors Ltd. bought a new position in American Express (NYSE:AXP – Get Rating) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 42,863 shares of the payment services company’s stock, valued at approximately $8,015,000.

Other large investors have also recently bought and sold shares of the company. SBK Financial Inc. bought a new stake in shares of American Express during the fourth quarter valued at approximately $25,000. Tyler Stone Wealth Management bought a new stake in shares of American Express during the fourth quarter valued at approximately $25,000. Blue Bell Private Wealth Management LLC raised its holdings in shares of American Express by 873.3% during the first quarter. Blue Bell Private Wealth Management LLC now owns 146 shares of the payment services company’s stock valued at $27,000 after buying an additional 131 shares during the last quarter. Perkins Coie Trust Co bought a new stake in shares of American Express during the first quarter valued at approximately $28,000. Finally, Rise Advisors LLC raised its holdings in shares of American Express by 823.5% during the first quarter. Rise Advisors LLC now owns 157 shares of the payment services company’s stock valued at $29,000 after buying an additional 140 shares during the last quarter. Institutional investors own 85.49% of the company’s stock.

American Express Price Performance

American Express stock traded up $0.64 during mid-day trading on Friday, hitting $157.51. The company’s stock had a trading volume of 2,513,764 shares, compared to its average volume of 3,709,885. American Express has a twelve month low of $134.12 and a twelve month high of $199.55. 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 stock has a market capitalization of $118.09 billion, a P/E ratio of 16.15, a P/E/G ratio of 1.22 and a beta of 1.15. The stock’s fifty day moving average price is $149.59 and its two-hundred day moving average price is $168.36.

American Express (NYSE:AXP – Get Rating) last posted 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. American Express had a net margin of 15.69% and a return on equity of 32.81%. The firm had revenue of $13.40 billion for the quarter, compared to analysts’ expectations of $12.54 billion. During the same period in the previous year, the company posted $2.80 EPS. The company’s quarterly revenue was up 30.8% compared to the same quarter last year. Research analysts forecast that American Express will post 9.74 earnings per share for the current year.

Insiders Place Their Bets

In other American Express news, Director Theodore Leonsis sold 4,005 shares of American Express stock in a transaction that occurred on Friday, June 3rd. The shares were sold at an average price of $166.63, for a total transaction of $667,353.15. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

AXP has been the topic of a number of recent analyst reports. Robert W. Baird raised American Express from a “neutral” rating to an “outperform” rating and set a $175.00 price target on the stock in a report on Friday, June 17th. Edward Jones raised American Express from a “hold” rating to a “buy” rating in a report on Monday, June 6th. Keefe, Bruyette & Woods dropped their target price on American Express from $220.00 to $201.00 in a report on Monday, July 11th. Citigroup boosted their target price on American Express from $148.00 to $159.00 in a report on Tuesday, July 26th. Finally, Royal Bank of Canada boosted their target price on American Express from $195.00 to $200.00 and gave the stock a “sector perform” rating in a report on Monday, April 25th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, American Express presently has a consensus rating of “Hold” and an average price target of $181.53.

American Express Company 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.