Bank of America set a $128.00 target price on American Express (NYSE:AXP) in a research report sent to investors on Monday morning. The firm currently has a buy rating on the payment services company’s stock.
A number of other equities analysts have also recently commented on the company. Morgan Stanley dropped their target price on American Express from $90.00 to $89.00 and set an equal weight rating for the company in a report on Friday, September 8th. Zacks Investment Research cut American Express from a buy rating to a hold rating in a report on Wednesday, August 30th. Credit Suisse Group reiterated a sell rating and issued a $79.00 target price on shares of American Express in a report on Wednesday, October 4th. Atlantic Securities upgraded American Express from an underweight rating to a neutral rating and set a $100.00 target price for the company in a report on Tuesday, October 24th. Finally, Wells Fargo & Company started coverage on American Express in a report on Tuesday, October 10th. They issued an outperform rating and a $105.00 target price for the company. Three research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $92.44.
American Express (AXP) opened at $99.68 on Monday. The company has a market capitalization of $85,475.93, a P/E ratio of 18.86, a PEG ratio of 1.64 and a beta of 1.22. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 2.31. American Express has a 1-year low of $73.50 and a 1-year high of $100.53.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, January 5th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date is Thursday, January 4th. American Express’s dividend payout ratio (DPR) is presently 26.97%.
In other American Express news, insider James Peter Bush sold 10,230 shares of American Express stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $90.55, for a total transaction of $926,326.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anre D. Williams sold 30,761 shares of American Express stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $93.41, for a total value of $2,873,385.01. Following the sale, the insider now directly owns 28,720 shares of the company’s stock, valued at $2,682,735.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 440,310 shares of company stock valued at $42,478,329. 0.67% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of AXP. Citizens Financial Group Inc. RI raised its position in American Express by 0.4% during the 1st quarter. Citizens Financial Group Inc. RI now owns 10,925 shares of the payment services company’s stock valued at $865,000 after purchasing an additional 42 shares in the last quarter. Elgethun Capital Management raised its position in shares of American Express by 6.1% in the 1st quarter. Elgethun Capital Management now owns 41,781 shares of the payment services company’s stock worth $3,305,000 after acquiring an additional 2,418 shares in the last quarter. Teachers Advisors LLC raised its position in shares of American Express by 45.6% in the 1st quarter. Teachers Advisors LLC now owns 2,336,270 shares of the payment services company’s stock worth $184,822,000 after acquiring an additional 731,260 shares in the last quarter. TIAA CREF Investment Management LLC raised its position in shares of American Express by 21.4% in the 1st quarter. TIAA CREF Investment Management LLC now owns 3,686,178 shares of the payment services company’s stock worth $291,614,000 after acquiring an additional 650,943 shares in the last quarter. Finally, Waratah Capital Advisors Ltd. bought a new position in shares of American Express in the 1st quarter worth $813,000. 83.35% of the stock is owned by institutional investors and hedge funds.
About American Express
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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