Bank of America Begins Coverage on American Express (NYSE:AXP)

Bank of America assumed coverage on shares of American Express (NYSE:AXP) in a report issued on Wednesday morning, Briefing.com Automated Import reports. The brokerage issued a buy rating and a $145.00 price objective on the payment services company’s stock.

Several other research analysts also recently issued reports on AXP. Stephens set a $131.00 price target on American Express and gave the stock a buy rating in a research note on Monday, May 20th. Wells Fargo & Co lifted their price target on American Express from $125.00 to $135.00 and gave the stock an outperform rating in a research note on Tuesday. William Blair reiterated an outperform rating on shares of American Express in a research report on Tuesday. ValuEngine upgraded American Express from a hold rating to a buy rating in a research report on Monday, May 20th. Finally, Jefferies Financial Group lifted their price objective on American Express from $105.00 to $130.00 and gave the stock a hold rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. American Express currently has an average rating of Hold and an average target price of $121.43.

NYSE:AXP opened at $124.73 on Wednesday. The firm has a market cap of $104.16 billion, a PE ratio of 17.02, a PEG ratio of 1.44 and a beta of 1.07. The company has a debt-to-equity ratio of 2.63, a current ratio of 1.88 and a quick ratio of 1.88. American Express has a 52-week low of $89.05 and a 52-week high of $126.40.

American Express (NYSE:AXP) last released its quarterly earnings results on Thursday, April 18th. The payment services company reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.01. The business had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.46 billion. American Express had a return on equity of 29.86% and a net margin of 16.60%. The business’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.86 EPS. On average, analysts expect that American Express will post 8.12 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Wednesday, July 3rd. American Express’s dividend payout ratio is presently 21.28%.

In other American Express news, CFO Jeffrey C. Campbell sold 6,500 shares of American Express stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $122.93, for a total value of $799,045.00. Following the completion of the sale, the chief financial officer now owns 68,379 shares in the company, valued at approximately $8,405,830.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Stephen J. Squeri sold 101,964 shares of American Express stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $119.95, for a total value of $12,230,581.80. Following the completion of the sale, the chairman now owns 258,948 shares of the company’s stock, valued at approximately $31,060,812.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 183,797 shares of company stock valued at $21,861,060. 0.21% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of AXP. FMR LLC grew its holdings in American Express by 49.5% in the 4th quarter. FMR LLC now owns 24,583,840 shares of the payment services company’s stock valued at $2,343,332,000 after buying an additional 8,136,470 shares during the period. Norges Bank purchased a new stake in American Express in the 4th quarter valued at about $643,757,000. Egerton Capital UK LLP grew its holdings in American Express by 18.4% in the 1st quarter. Egerton Capital UK LLP now owns 9,368,737 shares of the payment services company’s stock valued at $1,024,003,000 after buying an additional 1,452,890 shares during the period. Samlyn Capital LLC grew its holdings in American Express by 327.7% in the 4th quarter. Samlyn Capital LLC now owns 1,286,390 shares of the payment services company’s stock valued at $122,619,000 after buying an additional 985,591 shares during the period. Finally, Findlay Park Partners LLP grew its holdings in American Express by 24.8% in the 1st quarter. Findlay Park Partners LLP now owns 3,367,074 shares of the payment services company’s stock valued at $368,021,000 after buying an additional 669,053 shares during the period. Institutional investors own 83.61% of the company’s stock.

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 three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.

See Also: How does the Beige Book influence monetary policy?

Analyst Recommendations for American Express (NYSE:AXP)

Receive News & Ratings for American Express Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Express and related companies with MarketBeat.com's FREE daily email newsletter.