American Express Company (NYSE:AXP) had its price target lifted by Bank of America Corporation from $102.00 to $106.00 in a research note issued to investors on Thursday. They currently have a buy rating on the payment services company’s stock.
A number of other brokerages also recently issued reports on AXP. Zacks Investment Research downgraded shares of American Express from a buy rating to a hold rating in a report on Wednesday, August 30th. Morgan Stanley reduced their price target on shares of American Express from $90.00 to $89.00 and set an equal weight rating on the stock in a report on Friday, September 8th. Jefferies Group LLC reiterated a hold rating and issued a $85.00 price target on shares of American Express in a report on Saturday, July 22nd. Credit Suisse Group reiterated an underperform rating and issued a $84.00 price target (up from $79.00) on shares of American Express in a report on Thursday. Finally, Sanford C. Bernstein reiterated an outperform rating and issued a $100.00 price target (up from $99.00) on shares of American Express in a report on Saturday, July 22nd. Three investment 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. The stock currently has a consensus rating of Hold and an average target price of $90.66.
American Express (NYSE:AXP) opened at 92.09 on Thursday. The stock has a market capitalization of $81.41 billion, a price-to-earnings ratio of 18.89 and a beta of 1.21. American Express has a 12 month low of $65.03 and a 12 month high of $93.35. The company has a 50-day moving average of $89.20 and a 200 day moving average of $83.54.
American Express (NYSE:AXP) last announced its quarterly earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.03. The company had revenue of $8.44 billion for the quarter, compared to the consensus estimate of $8.31 billion. American Express had a net margin of 14.48% and a return on equity of 22.75%. American Express’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.24 EPS. On average, equities research analysts anticipate that American Express will post $5.84 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 10th. Shareholders of record on Friday, October 6th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.52%. This is a boost from American Express’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, October 5th. American Express’s payout ratio is 26.97%.
American Express announced that its board has initiated a stock repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $4.40 billion in shares. This repurchase authorization authorizes the payment services company to repurchase up to 5.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
In other American Express news, insider Anre D. Williams sold 53,111 shares of the business’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $85.24, for a total value of $4,527,181.64. Following the completion of the sale, the insider now directly owns 79,614 shares of the company’s stock, valued at approximately $6,786,297.36. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Vice Chairman Stephen J. Squeri sold 94,792 shares of the business’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $85.41, for a total transaction of $8,096,184.72. Following the completion of the sale, the insider now directly owns 261,665 shares of the company’s stock, valued at $22,348,807.65. The disclosure for this sale can be found here. Over the last three months, insiders sold 164,133 shares of company stock valued at $14,056,033. 0.67% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. MCF Advisors LLC boosted its position in American Express by 0.3% in the 2nd quarter. MCF Advisors LLC now owns 1,286 shares of the payment services company’s stock valued at $108,000 after buying an additional 4 shares during the period. Appleton Partners Inc. MA boosted its position in American Express by 0.3% in the 2nd quarter. Appleton Partners Inc. MA now owns 2,658 shares of the payment services company’s stock valued at $224,000 after buying an additional 8 shares during the period. Westside Investment Management Inc. boosted its position in American Express by 0.5% in the 2nd quarter. Westside Investment Management Inc. now owns 1,536 shares of the payment services company’s stock valued at $129,000 after buying an additional 8 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its position in American Express by 0.4% in the 2nd quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,652 shares of the payment services company’s stock valued at $223,000 after buying an additional 11 shares during the period. Finally, Bath Savings Trust Co boosted its position in American Express by 0.3% in the 2nd quarter. Bath Savings Trust Co now owns 4,388 shares of the payment services company’s stock valued at $369,000 after buying an additional 14 shares during the period. 82.77% of the stock is owned by institutional investors.
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).
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