State of New Jersey Common Pension Fund D Has $49.30 Million Stock Position in American Express (NYSE:AXP)

State of New Jersey Common Pension Fund D decreased its holdings in shares of American Express (NYSE:AXP) by 37.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 212,895 shares of the payment services company’s stock after selling 124,823 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in American Express were worth $49,296,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Scarborough Advisors LLC bought a new stake in shares of American Express during the 4th quarter worth $25,000. Sachetta LLC bought a new stake in shares of American Express during the 4th quarter worth $29,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of American Express during the 4th quarter worth $29,000. Game Plan Financial Advisors LLC boosted its holdings in shares of American Express by 62.5% during the 1st 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 bought a new stake in shares of American Express during the 4th quarter worth $32,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Barclays upped their price objective on shares of American Express from $221.00 to $223.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 9th. Wells Fargo & Company increased their price target on shares of American Express from $275.00 to $285.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. 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 report on Monday, July 8th. Bank of America lowered shares of 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 initiated coverage on shares of American Express in a research report on Monday, June 10th. They issued a “neutral” rating and a $250.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $230.70.

American Express Trading Up 3.6 %

Shares of NYSE AXP opened at $254.18 on Thursday. American Express has a 1-year low of $140.91 and a 1-year high of $261.75. The company has a market cap of $182.83 billion, a PE ratio of 20.94, a P/E/G ratio of 1.37 and a beta of 1.21. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74. The company has a 50-day moving average of $245.48 and a two-hundred day moving average of $234.92.

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

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.