American Express (AXP) Receives New Coverage from Analysts at Instinet

Instinet started coverage on shares of American Express (NYSE:AXP) in a research report report published on Wednesday. The brokerage issued a buy rating and a $110.00 target price on the payment services company’s stock.

Several other brokerages have also recently issued reports on AXP. Zacks Investment Research cut shares of American Express from a buy rating to a hold rating in a research note on Tuesday, September 12th. Morgan Stanley lowered their price objective on shares of American Express from $90.00 to $89.00 and set an equal weight rating for the company in a research note on Friday, September 8th. Credit Suisse Group reissued an underperform rating and set a $84.00 price objective (up from $79.00) on shares of American Express in a research note on Thursday, October 19th. Oppenheimer set a $99.00 price objective on shares of American Express and gave the company a buy rating in a research note on Thursday, October 19th. Finally, Stephens set a $89.00 price objective on shares of American Express and gave the company a hold rating in a research note on Thursday, October 19th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have given a buy rating to the company. The company presently has an average rating of Hold and an average target price of $96.68.

American Express (AXP) traded up $1.30 during mid-day trading on Wednesday, reaching $100.85. 3,106,500 shares of the company’s stock traded hands, compared to its average volume of 3,200,000. The stock has a market cap of $87,540.00, a PE ratio of 19.47, a P/E/G ratio of 1.49 and a beta of 1.22. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.90 and a quick ratio of 1.90. American Express has a 12-month low of $74.82 and a 12-month high of $101.65.

American Express (NYSE:AXP) last announced its quarterly earnings data on Wednesday, October 18th. The payment services company reported $1.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.03. American Express had a net margin of 14.48% and a return on equity of 22.73%. The company had revenue of $8.44 billion during the quarter, compared to analysts’ expectations of $8.31 billion. During the same period in the previous year, the company earned $1.24 EPS. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. equities analysts anticipate that American Express will post 5.86 earnings per share 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 $0.35 dividend. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $1.40 dividend on an annualized basis and a yield of 1.39%. American Express’s dividend payout ratio is currently 27.03%.

In other news, insider Susan Sobbott sold 5,500 shares of the company’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $94.34, for a total value of $518,870.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Anre D. Williams sold 30,761 shares of the company’s stock in a transaction dated 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 completion of 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. In the last 90 days, insiders sold 442,869 shares of company stock worth $42,823,869. Company insiders own 0.67% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Farmers & Merchants Trust Co of Chambersburg PA grew its position in shares of American Express by 30.4% during the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock valued at $109,000 after buying an additional 300 shares during the last quarter. Capital Analysts LLC bought a new stake in shares of American Express during the 2nd quarter valued at about $115,000. Zions Bancorporation grew its position in shares of American Express by 912.9% during the 3rd quarter. Zions Bancorporation now owns 1,337 shares of the payment services company’s stock valued at $121,000 after buying an additional 1,205 shares during the last quarter. MV Capital Management Inc. grew its position in shares of American Express by 3.5% during the 2nd quarter. MV Capital Management Inc. now owns 1,448 shares of the payment services company’s stock valued at $122,000 after buying an additional 49 shares during the last quarter. Finally, Westside Investment Management Inc. grew its position in shares of American Express by 0.5% during 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 last quarter. Institutional investors and hedge funds own 83.35% 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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