American Express (AXP) Earns Hold Rating from Piper Jaffray Companies

Piper Jaffray Companies restated their hold rating on shares of American Express (NYSE:AXP) in a research note released on Thursday morning. They currently have a $126.00 price objective on the payment services company’s stock.

AXP has been the topic of several other reports. Barclays set a $93.00 target price on shares of American Express and gave the stock a hold rating in a research report on Thursday, October 19th. Bank of America raised their target price on shares of American Express from $102.00 to $106.00 and gave the stock a buy rating in a research report on Thursday, October 19th. Jefferies Group reissued an in-line rating and issued a $93.00 target price (up from $85.00) on shares of American Express in a research report on Thursday, October 19th. Buckingham Research began coverage on shares of American Express in a research report on Monday, October 2nd. They issued a neutral rating and a $92.00 target price on the stock. Finally, Zacks Investment Research raised shares of American Express from a hold rating to a buy rating and set a $111.00 target price on the stock in a research report on Wednesday, January 3rd. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. American Express currently has an average rating of Hold and a consensus price target of $100.80.

Shares of American Express (AXP) opened at $98.03 on Thursday. The company has a market cap of $85,089.64, a PE ratio of 33.80, a PEG ratio of 1.37 and a beta of 1.22. American Express has a twelve month low of $75.39 and a twelve month high of $102.39. 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 issued its quarterly earnings results on Thursday, January 18th. The payment services company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.04. American Express had a net margin of 8.08% and a return on equity of 25.12%. The business had revenue of $8.84 billion during the quarter, compared to the consensus estimate of $8.73 billion. During the same period in the previous year, the firm posted $0.91 earnings per share. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. research analysts predict that American Express will post 7.26 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, January 5th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, January 4th. This represents a $1.40 dividend on an annualized basis and a yield of 1.43%. American Express’s dividend payout ratio (DPR) is 48.28%.

In other news, insider Ashwini Gupta sold 90,658 shares of American Express stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $94.71, for a total transaction of $8,586,219.18. Following the sale, the insider now owns 289,996 shares in the company, valued at $27,465,521.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anre D. Williams sold 30,761 shares of American Express stock in a transaction that occurred on Wednesday, October 25th. The shares were sold at an average price of $93.41, for a total transaction of $2,873,385.01. Following the sale, the insider now owns 28,720 shares in the company, valued at approximately $2,682,735.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 442,869 shares of company stock worth $42,823,869. 0.67% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of AXP. Veritas Asset Management LLP raised its stake in shares of American Express by 15.2% during the second quarter. Veritas Asset Management LLP now owns 10,303,201 shares of the payment services company’s stock valued at $867,942,000 after purchasing an additional 1,358,474 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of American Express during the second quarter valued at approximately $101,526,000. Canada Pension Plan Investment Board raised its stake in shares of American Express by 944,765.8% during the second quarter. Canada Pension Plan Investment Board now owns 1,077,147 shares of the payment services company’s stock valued at $90,739,000 after purchasing an additional 1,077,033 shares during the period. Janus Henderson Group PLC raised its stake in shares of American Express by 55.9% during the third quarter. Janus Henderson Group PLC now owns 2,675,599 shares of the payment services company’s stock valued at $242,003,000 after purchasing an additional 959,824 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of American Express by 11,602.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 901,100 shares of the payment services company’s stock valued at $75,909,000 after purchasing an additional 893,400 shares during the period. Institutional investors own 83.36% of the company’s stock.

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American Express Company Profile

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).

Analyst Recommendations for American Express (NYSE:AXP)

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