CI Investments Inc. Reduces Stake in American Express (NYSE:AXP)

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CI Investments Inc. trimmed its position in shares of American Express (NYSE:AXP) by 11.1% during the fourth quarter, Holdings Channel reports. The firm owned 626,265 shares of the payment services company’s stock after selling 77,896 shares during the quarter. CI Investments Inc.’s holdings in American Express were worth $75,722,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AXP. Clearview Wealth Advisors LLC acquired a new position in shares of American Express during the 4th quarter worth $27,000. Hexavest Inc. purchased a new position in American Express during the 4th quarter valued at about $29,000. Accel Wealth Management acquired a new position in American Express during the fourth quarter worth about $31,000. Paces Ferry Wealth Advisors LLC acquired a new position in American Express during the third quarter worth about $34,000. Finally, Joseph P. Lucia & Associates LLC purchased a new stake in shares of American Express in the fourth quarter valued at about $34,000. Institutional investors own 83.54% of the company’s stock.

American Express stock opened at $135.95 on Tuesday. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.47 and a quick ratio of 1.47. American Express has a 12 month low of $67.00 and a 12 month high of $136.47. The company has a market cap of $109.52 billion, a price-to-earnings ratio of 33.73, a price-to-earnings-growth ratio of 3.27 and a beta of 1.36. The stock’s 50-day moving average is $124.01 and its 200-day moving average is $111.52.

American Express (NYSE:AXP) last posted its earnings results on Monday, January 25th. The payment services company reported $1.76 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.50. American Express had a net margin of 8.84% and a return on equity of 21.31%. The firm had revenue of $9.35 billion during the quarter, compared to the consensus estimate of $9.32 billion. During the same quarter in the prior year, the company earned $2.03 EPS. The company’s revenue was down 17.7% on a year-over-year basis. Research analysts anticipate that American Express will post 4.85 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 10th. Stockholders of record on Friday, January 8th were given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 1.27%. The ex-dividend date was Thursday, January 7th. American Express’s payout ratio is currently 20.98%.

AXP has been the subject of several research reports. JPMorgan Chase & Co. upgraded American Express from an “underweight” rating to an “overweight” rating and set a $148.00 price objective for the company in a research report on Tuesday, January 19th. Oppenheimer reduced their price objective on American Express from $136.00 to $128.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 27th. UBS Group upgraded American Express from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $90.00 to $116.00 in a research report on Tuesday, November 10th. Credit Suisse Group reduced their target price on shares of American Express from $120.00 to $115.00 and set an “underperform” rating on the stock in a report on Wednesday, January 27th. Finally, Moffett Nathanson initiated coverage on shares of American Express in a report on Monday, December 7th. They set a “buy” rating and a $155.00 price target for the company. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $119.92.

American Express Profile

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; expense management products and services; and lifestyle services.

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

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