California Public Employees Retirement System lessened its position in shares of American Express Company (NYSE:AXP) by 2.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,050,526 shares of the payment services company’s stock after selling 46,500 shares during the period. California Public Employees Retirement System owned about 0.23% of American Express worth $172,736,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. MCF Advisors LLC increased its holdings in American Express by 0.3% during the 2nd quarter. MCF Advisors LLC now owns 1,286 shares of the payment services company’s stock worth $108,000 after purchasing an additional 4 shares in the last quarter. Appleton Partners Inc. MA boosted its stake in shares of American Express by 0.3% during the 2nd quarter. Appleton Partners Inc. MA now owns 2,658 shares of the payment services company’s stock worth $224,000 after buying an additional 8 shares during the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its stake in shares of American Express by 0.4% during the 2nd quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,652 shares of the payment services company’s stock worth $223,000 after buying an additional 11 shares during the last quarter. Bath Savings Trust Co boosted its stake in shares of American Express by 0.3% during the 2nd quarter. Bath Savings Trust Co now owns 4,388 shares of the payment services company’s stock worth $369,000 after buying an additional 14 shares during the last quarter. Finally, Accredited Investors Inc. boosted its stake in shares of American Express by 0.5% during the 1st quarter. Accredited Investors Inc. now owns 3,174 shares of the payment services company’s stock worth $251,000 after buying an additional 15 shares during the last quarter. Hedge funds and other institutional investors own 84.12% of the company’s stock.

American Express Company (AXP) opened at $93.90 on Tuesday. American Express Company has a fifty-two week low of $70.63 and a fifty-two week high of $96.90. The company has a market cap of $81,175.00, a P/E ratio of 17.92, a PEG ratio of 1.56 and a beta of 1.22. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 2.31.

American Express (NYSE:AXP) last announced its earnings results on Wednesday, October 18th. The payment services company reported $1.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.03. American Express had a net margin of 14.48% and a return on equity of 22.73%. The company had revenue of $8.44 billion for the quarter, compared to analysts’ expectations of $8.31 billion. During the same period last year, the firm earned $1.24 earnings per share. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. research analysts predict that American Express Company will post 5.85 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, November 10th. Stockholders of record on Friday, October 6th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, October 5th. This is a boost from American Express’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a dividend yield of 1.49%. American Express’s dividend payout ratio (DPR) is currently 26.97%.

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In related news, insider James Peter Bush sold 10,230 shares of American Express stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $90.55, for a total value of $926,326.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Susan Sobbott sold 6,000 shares of American Express stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $84.39, for a total transaction of $506,340.00. The disclosure for this sale can be found here. Insiders have sold 146,345 shares of company stock worth $13,716,103 over the last ninety days. Insiders own 0.67% of the company’s stock.

A number of equities analysts have recently commented on the stock. Credit Suisse Group restated a “sell” rating on shares of American Express in a research note on Wednesday, July 19th. Bank of America Corporation increased their price objective on shares of American Express from $102.00 to $106.00 and gave the stock a “buy” rating in a research note on Thursday, October 19th. Jefferies Group LLC restated a “hold” rating and set a $85.00 price objective on shares of American Express in a research note on Saturday, July 22nd. Keefe, Bruyette & Woods set a $95.00 price objective on shares of American Express and gave the stock a “buy” rating in a research note on Saturday, August 19th. Finally, Zacks Investment Research upgraded shares of American Express from a “hold” rating to a “buy” rating and set a $107.00 price objective for the company in a research note on Wednesday, November 1st. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $91.56.

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

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