Deutsche Bank assumed coverage on shares of American Express (NYSE:AXP) in a research report report published on Monday morning, BenzingaRatingsTable reports. The brokerage issued a buy rating and a $142.00 price objective on the payment services company’s stock.
Several other brokerages have also recently weighed in on AXP. Oppenheimer set a $119.00 target price on American Express and gave the stock a buy rating in a report on Wednesday, April 17th. DZ Bank restated a buy rating on shares of CTS Eventim AG & Co KGaA in a report on Thursday, March 21st. Wells Fargo & Co boosted their target price on Boston Scientific from $42.00 to $45.00 and gave the stock an outperform rating in a report on Tuesday, June 18th. Stephens set a $131.00 target price on American Express and gave the stock a buy rating in a report on Monday, May 20th. Finally, Morgan Stanley set a $226.00 target price on S&P Global and gave the stock a hold rating in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. American Express currently has an average rating of Hold and an average target price of $123.03.
Shares of AXP stock opened at $127.28 on Monday. The stock has a market cap of $105.96 billion, a price-to-earnings ratio of 17.36, a price-to-earnings-growth ratio of 1.46 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. The stock has a fifty day moving average price of $121.98. American Express has a 1 year low of $89.05 and a 1 year high of $128.42.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be given a $0.39 dividend. The ex-dividend date is Wednesday, July 3rd. This represents a $1.56 annualized dividend and a dividend yield of 1.23%. American Express’s dividend payout ratio is presently 21.28%.
In other American Express news, Chairman Stephen J. Squeri sold 101,964 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $119.95, for a total transaction of $12,230,581.80. Following the transaction, the chairman now owns 258,948 shares of the company’s stock, valued at $31,060,812.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Michael John O’neill sold 15,749 shares of the firm’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $113.94, for a total transaction of $1,794,441.06. Following the completion of the transaction, the insider now directly owns 69,941 shares in the company, valued at approximately $7,969,077.54. The disclosure for this sale can be found here. Insiders sold 183,797 shares of company stock worth $21,861,060 over the last quarter. Company insiders own 0.21% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Comerica Securities Inc. grew its stake in shares of American Express by 5.3% during the 4th quarter. Comerica Securities Inc. now owns 5,582 shares of the payment services company’s stock worth $532,000 after acquiring an additional 279 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of American Express by 1.4% during the fourth quarter. Bessemer Group Inc. now owns 9,867 shares of the payment services company’s stock worth $940,000 after buying an additional 136 shares in the last quarter. Pitcairn Co. lifted its holdings in shares of American Express by 59.7% during the fourth quarter. Pitcairn Co. now owns 8,960 shares of the payment services company’s stock worth $854,000 after buying an additional 3,350 shares in the last quarter. Sound View Wealth Advisors LLC acquired a new stake in shares of American Express during the fourth quarter worth $555,000. Finally, Godshalk Welsh Capital Management Inc. lifted its holdings in shares of American Express by 1.6% during the fourth quarter. Godshalk Welsh Capital Management Inc. now owns 13,890 shares of the payment services company’s stock worth $1,324,000 after buying an additional 215 shares in the last quarter. 83.60% of the stock is currently owned by hedge funds and other institutional investors.
About American Express
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.
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