JPMorgan Chase & Co. cut shares of American Express (NYSE:AXP) from an overweight rating to a neutral rating in a research note published on Monday morning, MarketBeat Ratings reports. The firm currently has $200.00 price objective on the payment services company’s stock.
Other equities research analysts also recently issued reports about the company. BMO Capital Markets increased their price target on American Express from $152.00 to $155.00 and gave the stock a market perform rating in a report on Wednesday, January 26th. Daiwa Capital Markets upgraded American Express from a neutral rating to a buy rating and increased their price target for the stock from $190.00 to $215.00 in a report on Thursday, February 10th. Wells Fargo & Company increased their price objective on American Express from $200.00 to $215.00 and gave the stock an overweight rating in a research note on Wednesday, January 26th. Oppenheimer reissued an outperform rating and issued a $200.00 price objective on shares of American Express in a research note on Wednesday, March 23rd. Finally, Bank of America increased their price objective on American Express from $204.00 to $206.00 in a research note on Thursday, March 17th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and an average target price of $197.82.
Shares of AXP stock opened at $179.59 on Monday. American Express has a 1 year low of $140.68 and a 1 year high of $199.55. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.68 and a quick ratio of 1.68. The stock’s 50 day simple moving average is $185.27 and its two-hundred day simple moving average is $175.92. The company has a market cap of $136.00 billion, a PE ratio of 17.98, a price-to-earnings-growth ratio of 1.55 and a beta of 1.10.
American Express (NYSE:AXP – Get Rating) last issued its quarterly earnings data on Tuesday, January 25th. The payment services company reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.40. American Express had a return on equity of 33.20% and a net margin of 18.92%. The business had revenue of $12.15 billion for the quarter, compared to the consensus estimate of $11.55 billion. During the same period in the prior year, the business posted $1.76 earnings per share. The company’s quarterly revenue was up 29.9% compared to the same quarter last year. Equities research analysts expect that American Express will post 9.74 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 10th. Stockholders of record on Friday, April 8th will be given a $0.52 dividend. This is a boost from American Express’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, April 7th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.16%. American Express’s dividend payout ratio (DPR) is presently 20.82%.
In related news, insider Anre D. Williams sold 139,909 shares of the firm’s stock in a transaction on Wednesday, February 9th. The stock was sold at an average price of $196.82, for a total value of $27,536,889.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stephen J. Squeri sold 267,656 shares of the firm’s stock in a transaction on Tuesday, February 1st. The stock was sold at an average price of $178.60, for a total value of $47,803,361.60. The disclosure for this sale can be found here. Insiders sold a total of 440,177 shares of company stock valued at $81,094,533 in the last three months. Insiders own 0.11% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fort Point Capital Partners LLC raised its stake in shares of American Express by 0.7% during the 3rd quarter. Fort Point Capital Partners LLC now owns 7,467 shares of the payment services company’s stock valued at $1,251,000 after buying an additional 55 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of American Express by 6.9% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 849 shares of the payment services company’s stock valued at $139,000 after buying an additional 55 shares during the last quarter. Ropes Wealth Advisors LLC grew its position in shares of American Express by 0.3% during the 4th quarter. Ropes Wealth Advisors LLC now owns 19,599 shares of the payment services company’s stock valued at $3,206,000 after acquiring an additional 55 shares during the period. Associated Banc Corp grew its position in shares of American Express by 0.7% during the 4th quarter. Associated Banc Corp now owns 8,402 shares of the payment services company’s stock valued at $1,375,000 after acquiring an additional 55 shares during the period. Finally, B. Riley Wealth Management Inc. grew its position in shares of American Express by 1.7% during the 3rd quarter. B. Riley Wealth Management Inc. now owns 3,373 shares of the payment services company’s stock valued at $565,000 after acquiring an additional 56 shares during the period. Institutional investors and hedge funds own 83.98% of the company’s stock.
About American Express (Get Rating)
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.
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