AQR Capital Management LLC Has $25.29 Million Stake in American Express (NYSE:AXP)

AQR Capital Management LLC lifted its stake in American Express (NYSE:AXP) by 31.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 109,198 shares of the payment services company’s stock after buying an additional 25,937 shares during the period. AQR Capital Management LLC’s holdings in American Express were worth $25,285,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in AXP. Alphinity Investment Management Pty Ltd acquired a new stake in American Express in the first quarter valued at $433,709,000. Public Employees Retirement Association of Colorado increased its holdings in American Express by 924.2% in the second quarter. Public Employees Retirement Association of Colorado now owns 851,431 shares of the payment services company’s stock valued at $197,149,000 after purchasing an additional 768,301 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in American Express by 8.5% in the first 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 purchasing an additional 662,382 shares during the period. M&G Plc acquired a new stake in American Express during the 1st quarter worth about $114,990,000. Finally, Canada Pension Plan Investment Board grew its holdings in American Express by 71.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,164,098 shares of the payment services company’s stock worth $269,547,000 after acquiring an additional 486,755 shares during the period. 84.33% of the stock is currently owned by institutional investors.

American Express Stock Performance

Shares of American Express stock opened at $271.06 on Monday. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.66. The stock has a market capitalization of $194.97 billion, a price-to-earnings ratio of 22.33, a PEG ratio of 1.48 and a beta of 1.21. The firm’s fifty day simple moving average is $251.17 and its 200-day simple moving average is $238.83. American Express has a 12 month low of $140.91 and a 12 month high of $272.68.

American Express (NYSE:AXP) last issued its earnings results on Friday, July 19th. The payment services company reported $3.49 EPS for the quarter, topping the consensus estimate of $3.26 by $0.23. The company had revenue of $16.33 billion for the quarter, compared to analyst estimates of $16.60 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. The business’s revenue was up 9.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.89 EPS. As a group, equities analysts forecast that American Express will post 13.13 earnings per share for the current year.

American Express Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be given a $0.70 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.80 annualized dividend and a dividend yield of 1.03%. American Express’s dividend payout ratio is presently 23.06%.

Analysts Set New Price Targets

Several brokerages recently weighed in on AXP. Barclays raised their price target on shares of American Express from $221.00 to $223.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 9th. Royal Bank of Canada raised their price target on shares of American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Compass Point assumed coverage on shares of American Express in a research note on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price target for the company. Keefe, Bruyette & Woods raised their price target on shares of American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of American Express from $240.00 to $268.00 and gave the company an “overweight” rating in a research note on Monday, July 8th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $230.78.

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.