New York Life Investment Management LLC Has $20.22 Million Holdings in American Express (NYSE:AXP)

New York Life Investment Management LLC raised its holdings in American Express (NYSE:AXP) by 0.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 87,313 shares of the payment services company’s stock after acquiring an additional 51 shares during the period. New York Life Investment Management LLC’s holdings in American Express were worth $20,217,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Scarborough Advisors LLC bought a new stake in American Express during the 4th quarter worth approximately $25,000. Sachetta LLC bought a new position in American Express during the 4th quarter worth about $29,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of American Express in the fourth quarter valued at about $29,000. Game Plan Financial Advisors LLC boosted its position in shares of American Express by 62.5% during the first quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock worth $30,000 after buying an additional 50 shares during the period. Finally, Creekmur Asset Management LLC acquired a new stake in American Express in the 4th quarter valued at approximately $32,000. 84.33% of the stock is currently owned by institutional investors.

American Express Price Performance

NYSE:AXP opened at $244.12 on Friday. The firm’s 50-day simple moving average is $244.57 and its 200 day simple moving average is $234.00. American Express has a 52 week low of $140.91 and a 52 week high of $261.75. The firm has a market cap of $175.60 billion, a price-to-earnings ratio of 20.11, a P/E/G ratio of 1.45 and a beta of 1.21. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $16.60 billion. During the same period in the previous year, the firm earned $2.89 EPS. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. As a group, sell-side analysts predict that American Express will post 13.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AXP. William Blair reaffirmed an “outperform” rating on shares of American Express in a research report on Monday, June 3rd. Keefe, Bruyette & Woods lifted their price target on shares of American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. Compass Point assumed coverage on American Express in a report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price objective for the company. Barclays upped their target price on American Express from $221.00 to $223.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 9th. Finally, Wells Fargo & Company raised their price target on American Express from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $230.70.

American Express Profile

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.