Brokerages Set American Express (AXP) Price Target at $107.67

American Express (NYSE:AXP) has been assigned a consensus recommendation of “Hold” from the thirty research firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have issued a buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $107.67.

A number of research firms have commented on AXP. TheStreet raised American Express from a “c+” rating to a “b+” rating in a report on Wednesday, April 18th. Oppenheimer set a $117.00 target price on American Express and gave the stock a “buy” rating in a report on Tuesday, March 13th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $120.00 target price (up previously from $115.00) on shares of American Express in a report on Thursday, April 19th. Sandler O’Neill set a $109.00 target price on American Express and gave the stock a “buy” rating in a report on Thursday, March 15th. Finally, Royal Bank of Canada increased their target price on American Express to $86.00 and gave the stock an “underperform” rating in a report on Thursday, April 19th.

In related news, CFO Jeffrey C. Campbell sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 1st. The stock was sold at an average price of $98.05, for a total value of $882,450.00. Following the sale, the chief financial officer now directly owns 79,978 shares in the company, valued at approximately $7,841,842.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Stephen J. Squeri sold 12,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 1st. The shares were sold at an average price of $98.05, for a total value of $1,225,625.00. Following the completion of the sale, the insider now owns 203,920 shares in the company, valued at $19,994,356. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,252 shares of company stock worth $5,800,027. 0.20% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its position in shares of American Express by 1.0% during the 1st quarter. BlackRock Inc. now owns 43,504,697 shares of the payment services company’s stock valued at $4,058,115,000 after purchasing an additional 414,196 shares during the period. Veritas Asset Management LLP increased its position in shares of American Express by 9.0% during the 1st quarter. Veritas Asset Management LLP now owns 11,996,953 shares of the payment services company’s stock valued at $1,119,076,000 after purchasing an additional 992,800 shares during the period. Fisher Asset Management LLC increased its position in shares of American Express by 2.8% during the 4th quarter. Fisher Asset Management LLC now owns 11,872,530 shares of the payment services company’s stock valued at $1,179,061,000 after purchasing an additional 325,140 shares during the period. Geode Capital Management LLC increased its position in shares of American Express by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 7,700,608 shares of the payment services company’s stock valued at $763,153,000 after purchasing an additional 382,691 shares during the period. Finally, Clearbridge Investments LLC increased its position in shares of American Express by 3.9% during the 4th quarter. Clearbridge Investments LLC now owns 5,655,948 shares of the payment services company’s stock valued at $561,692,000 after purchasing an additional 209,808 shares during the period. Hedge funds and other institutional investors own 85.03% of the company’s stock.

American Express traded down $0.23, reaching $100.99, during trading hours on Monday, Marketbeat Ratings reports. 2,927,601 shares of the stock were exchanged, compared to its average volume of 3,153,893. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 2.67. American Express has a 52 week low of $75.98 and a 52 week high of $102.96. The company has a market cap of $87.09 billion, a PE ratio of 17.20, a P/E/G ratio of 1.37 and a beta of 1.13.

American Express (NYSE:AXP) last released its earnings results on Wednesday, April 18th. The payment services company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.15. American Express had a return on equity of 28.41% and a net margin of 8.79%. The company had revenue of $9.72 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter last year, the business posted $1.34 EPS. American Express’s quarterly revenue was up 11.6% compared to the same quarter last year. sell-side analysts expect that American Express will post 7.23 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 10th. Investors of record on Friday, July 6th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Thursday, July 5th. American Express’s dividend payout ratio is currently 23.85%.

American Express Company Profile

American Express Company, together with its subsidiaries, provides charge and credit payment card products and travel-related services to consumers and businesses worldwide. It operates through four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.

Analyst Recommendations for American Express (NYSE:AXP)

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