Alberta Investment Management Corp Makes New $2.40 Million Investment in American Express (NYSE:AXP)

Alberta Investment Management Corp bought a new position in American Express (NYSE:AXP) in the first quarter, according to the company in its most recent disclosure with the SEC. The fund bought 28,000 shares of the payment services company’s stock, valued at approximately $2,397,000.

Several other hedge funds have also modified their holdings of the company. Ontario Teachers Pension Plan Board grew its position in shares of American Express by 165.5% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 15,468 shares of the payment services company’s stock valued at $1,324,000 after acquiring an additional 9,641 shares during the period. Elgethun Capital Management grew its position in shares of American Express by 21.7% during the 1st quarter. Elgethun Capital Management now owns 49,658 shares of the payment services company’s stock valued at $4,251,000 after acquiring an additional 8,860 shares during the period. Clear Harbor Asset Management LLC grew its position in shares of American Express by 17.1% during the 1st quarter. Clear Harbor Asset Management LLC now owns 3,416 shares of the payment services company’s stock valued at $292,000 after acquiring an additional 500 shares during the period. ETRADE Capital Management LLC grew its position in shares of American Express by 9.4% during the 1st quarter. ETRADE Capital Management LLC now owns 7,015 shares of the payment services company’s stock valued at $600,000 after acquiring an additional 603 shares during the period. Finally, Edge Capital Group LLC grew its position in shares of American Express by 7.5% during the 1st quarter. Edge Capital Group LLC now owns 2,424 shares of the payment services company’s stock valued at $208,000 after acquiring an additional 170 shares during the period. 84.21% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have recently issued reports on AXP shares. Zacks Investment Research raised shares of American Express from a “strong sell” rating to a “hold” rating and set a $101.00 price objective for the company in a research report on Thursday, April 30th. Susquehanna Bancshares cut their price objective on shares of American Express from $135.00 to $120.00 in a research report on Monday, April 27th. BMO Capital Markets cut their price objective on shares of American Express from $115.00 to $95.00 and set a “market perform” rating for the company in a research report on Monday, April 27th. DZ Bank raised shares of American Express from a “hold” rating to a “buy” rating in a report on Tuesday, March 3rd. Finally, Credit Suisse Group dropped their target price on shares of American Express from $90.00 to $85.00 and set an “underperform” rating for the company in a report on Monday, April 27th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. American Express has an average rating of “Hold” and an average target price of $107.83.

Shares of AXP stock opened at $89.33 on Friday. The stock has a market cap of $72.31 billion, a P/E ratio of 13.56, a PEG ratio of 1.55 and a beta of 1.13. American Express has a 52 week low of $67.00 and a 52 week high of $138.13. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 2.50. The company’s fifty day simple moving average is $85.77 and its two-hundred day simple moving average is $110.80.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, April 24th. The payment services company reported $1.98 EPS for the quarter, beating the consensus estimate of $1.69 by $0.29. The company had revenue of $10.31 billion for the quarter, compared to the consensus estimate of $10.67 billion. American Express had a net margin of 12.74% and a return on equity of 30.21%. The firm’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.01 EPS. On average, analysts anticipate that American Express will post 4.64 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Thursday, July 2nd will be paid a dividend of $0.43 per share. The ex-dividend date is Wednesday, July 1st. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.93%. American Express’s dividend payout ratio is presently 20.98%.

American Express Profile

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services to consumers and businesses worldwide. It operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.

Further Reading: Total Return

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

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