California State Teachers Retirement System cut its stake in American Express (NYSE:AXP) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,292,482 shares of the payment services company’s stock after selling 10,513 shares during the period. California State Teachers Retirement System’s holdings in American Express were worth $128,356,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Advisors Asset Management Inc. lifted its position in American Express by 4.9% in the third quarter. Advisors Asset Management Inc. now owns 143,134 shares of the payment services company’s stock valued at $12,948,000 after acquiring an additional 6,709 shares during the last quarter. Westpac Banking Corp lifted its position in American Express by 2.2% in the third quarter. Westpac Banking Corp now owns 243,683 shares of the payment services company’s stock valued at $22,044,000 after acquiring an additional 5,252 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in American Express in the third quarter valued at $5,505,000. Shelton Capital Management purchased a new stake in American Express in the second quarter valued at $670,000. Finally, Schroder Investment Management Group lifted its position in American Express by 17.5% in the third quarter. Schroder Investment Management Group now owns 1,416,401 shares of the payment services company’s stock valued at $127,674,000 after acquiring an additional 211,304 shares during the last quarter. 84.13% of the stock is owned by hedge funds and other institutional investors.
American Express (AXP) opened at $99.05 on Monday. The stock has a market cap of $85,210.62, a PE ratio of 16.82, a P/E/G ratio of 1.35 and a beta of 1.16. American Express has a 1-year low of $75.51 and a 1-year high of $102.39. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 3.06.
In other American Express news, insider James Peter Bush sold 13,356 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $98.65, for a total transaction of $1,317,569.40. Following the transaction, the insider now directly owns 100,790 shares in the company, valued at $9,942,933.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Kenneth I. Chenault sold 96,440 shares of the company’s stock in a transaction dated Thursday, December 14th. The stock was 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 owns 1,178,333 shares in the company, valued at $114,651,800.90. The disclosure for this sale can be found here. Insiders have sold 122,585 shares of company stock worth $11,973,047 over the last 90 days. 0.67% of the stock is currently owned by company insiders.
AXP has been the subject of a number of research reports. Stephens set a $97.00 price target on shares of American Express and gave the company a “hold” rating in a research report on Tuesday, January 2nd. JPMorgan Chase & Co. cut shares of American Express from an “overweight” rating to a “neutral” rating and set a $90.00 target price for the company. in a report on Friday, January 12th. Zacks Investment Research raised shares of American Express from a “hold” rating to a “buy” rating and set a $113.00 target price for the company in a report on Thursday, January 11th. Oppenheimer set a $117.00 target price on shares of American Express and gave the company a “buy” rating in a report on Friday, January 19th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $126.00 target price on shares of American Express in a report on Thursday, January 18th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $102.68.
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).
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