Chicago Capital LLC Has $2.91 Million Position in American Express (NYSE:AXP)

Chicago Capital LLC grew its position in American Express (NYSE:AXP) by 11.5% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 12,579 shares of the payment services company’s stock after acquiring an additional 1,300 shares during the period. Chicago Capital LLC’s holdings in American Express were worth $2,913,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Norges Bank acquired a new position in shares of American Express in the 4th quarter valued at approximately $1,112,747,000. Alphinity Investment Management Pty Ltd acquired a new position in shares of American Express in the first quarter valued at approximately $433,709,000. TD Asset Management Inc grew its holdings in shares of American Express by 62.1% during the fourth quarter. TD Asset Management Inc now owns 2,399,494 shares of the payment services company’s stock worth $449,521,000 after buying an additional 919,337 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in American Express by 8.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock valued at $1,923,399,000 after buying an additional 662,382 shares during the last quarter. Finally, Bank of Nova Scotia boosted its position in American Express by 969.9% during the 4th quarter. Bank of Nova Scotia now owns 602,726 shares of the payment services company’s stock worth $112,910,000 after acquiring an additional 546,389 shares during the last quarter. Institutional investors own 84.33% of the company’s stock.

American Express Price Performance

Shares of NYSE AXP traded down $7.78 during midday trading on Friday, reaching $244.06. The company’s stock had a trading volume of 3,652,963 shares, compared to its average volume of 2,967,115. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66. The company has a market cap of $175.55 billion, a P/E ratio of 20.11, a P/E/G ratio of 1.45 and a beta of 1.21. The business’s 50 day moving average price is $244.57 and its two-hundred day moving average price is $234.00. American Express has a fifty-two week low of $140.91 and a fifty-two week high of $261.75.

American Express (NYSE:AXP) last released its earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.26 by $0.23. American Express had a return on equity of 32.94% and a net margin of 15.53%. The firm had revenue of $16.33 billion during the quarter, compared to the consensus estimate of $16.60 billion. During the same period in the prior year, the company posted $2.89 EPS. The company’s revenue was up 9.2% compared to the same quarter last year. On average, analysts forecast that American Express will post 13.12 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on AXP. Wells Fargo & Company boosted their price objective on shares of American Express from $275.00 to $285.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. JPMorgan Chase & Co. upped their target price on American Express from $240.00 to $268.00 and gave the stock an “overweight” rating in a report on Monday, July 8th. Monness Crespi & Hardt raised their price target on American Express from $260.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Bank of America lowered American Express from a “buy” rating to a “neutral” rating and set a $263.00 price target on the stock. in a research report on Wednesday, August 21st. Finally, Citigroup started coverage on shares of American Express in a research note on Monday, June 10th. They issued a “neutral” rating and a $250.00 target price for the company. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $230.70.

About American Express

American Express Company, together with its subsidiaries, operates as integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and Internationally. It operates through four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.