Bank of America set a $128.00 price objective on American Express (NYSE:AXP) in a report published on Monday, December 18th. The firm currently has a buy rating on the payment services company’s stock.
A number of other equities analysts have also recently commented on AXP. Zacks Investment Research raised American Express from a hold rating to a buy rating and set a $96.00 target price for the company in a report on Tuesday, August 29th. Morgan Stanley dropped their price target on American Express from $90.00 to $89.00 and set an equal weight rating for the company in a research report on Friday, September 8th. Buckingham Research started coverage on American Express in a research report on Monday, October 2nd. They issued a neutral rating and a $92.00 price objective for the company. Credit Suisse Group reiterated a sell rating and issued a $79.00 price objective on shares of American Express in a research report on Wednesday, October 4th. Finally, Wells Fargo & Co assumed coverage on American Express in a research report on Tuesday, October 10th. They set an outperform rating and a $105.00 price target for the company. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $98.96.
Shares of American Express (AXP) traded up $0.24 during mid-day trading on Monday, hitting $100.97. The stock had a trading volume of 3,231,489 shares, compared to its average volume of 3,200,000. The firm has a market cap of $87,640.00, a PE ratio of 19.49, a PEG ratio of 1.45 and a beta of 1.22. American Express has a fifty-two week low of $75.39 and a fifty-two week high of $101.65. 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 released its quarterly earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.03. American Express had a return on equity of 22.73% and a net margin of 14.48%. The company had revenue of $8.44 billion during the quarter, compared to analysts’ expectations of $8.31 billion. During the same quarter in the prior year, the firm posted $1.24 EPS. American Express’s quarterly revenue was up 8.5% compared to the same quarter last year. research analysts expect that American Express will post 5.85 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, January 5th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend is Thursday, January 4th. American Express’s payout ratio is 27.03%.
In related news, insider Anre D. Williams sold 30,761 shares of the firm’s stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $93.41, for a total transaction of $2,873,385.01. Following the transaction, the insider now owns 28,720 shares of the company’s stock, valued at $2,682,735.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Kenneth I. Chenault sold 96,440 shares of the firm’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $97.30, for a total value of $9,383,612.00. Following the transaction, the chief executive officer now directly owns 1,178,333 shares in the company, valued at approximately $114,651,800.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 442,869 shares of company stock worth $42,823,869. Corporate insiders own 0.67% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hexavest Inc. boosted its holdings in American Express by 3.8% in the 4th quarter. Hexavest Inc. now owns 870,775 shares of the payment services company’s stock valued at $86,477,000 after purchasing an additional 31,707 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in American Express by 2.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 364,793 shares of the payment services company’s stock valued at $36,226,000 after purchasing an additional 8,311 shares in the last quarter. Sawyer & Company Inc purchased a new stake in American Express in the 4th quarter valued at approximately $178,000. Rockland Trust Co. boosted its holdings in American Express by 80.4% in the 4th quarter. Rockland Trust Co. now owns 4,066 shares of the payment services company’s stock valued at $404,000 after purchasing an additional 1,812 shares in the last quarter. Finally, Berson & Corrado Investment Advisors LLC purchased a new stake in American Express in the 4th quarter valued at approximately $229,000. 83.35% of the stock is currently owned by hedge funds and other institutional investors.
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About American Express
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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