Goldman Sachs Group Inc reiterated their neutral rating on shares of American Express Company (NYSE:AXP) in a research note released on Thursday, April 20th. The brokerage currently has a $87.00 target price on the payment services company’s stock.
Several other brokerages have also weighed in on AXP. Bank of America Corp raised American Express Company from a neutral rating to a buy rating and lifted their price objective for the stock from $78.00 to $90.00 in a report on Monday, January 9th. Susquehanna Bancshares Inc reissued a positive rating on shares of American Express Company in a report on Monday, December 26th. Zacks Investment Research raised American Express Company from a hold rating to a buy rating and set a $85.00 price objective on the stock in a report on Tuesday, January 24th. BMO Capital Markets reissued a hold rating and set a $80.00 price objective on shares of American Express Company in a report on Friday, January 20th. Finally, Stephens set a $70.00 price objective on American Express Company and gave the stock a sell rating in a report on Saturday, January 21st. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and ten have assigned a buy rating to the stock. American Express Company has a consensus rating of Hold and an average target price of $81.85.
American Express Company (NYSE:AXP) opened at 76.80 on Thursday. The company has a 50-day moving average price of $78.18 and a 200-day moving average price of $76.31. American Express Company has a one year low of $57.15 and a one year high of $82.00. The firm has a market capitalization of $68.64 billion, a P/E ratio of 13.86 and a beta of 1.19.
American Express Company (NYSE:AXP) last announced its quarterly earnings data on Wednesday, April 19th. The payment services company reported $1.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.06. American Express Company had a return on equity of 33.49% and a net margin of 16.63%. The company had revenue of $7.89 billion for the quarter, compared to analyst estimates of $7.76 billion. During the same quarter last year, the firm earned $1.45 EPS. American Express Company’s revenue for the quarter was down 2.5% compared to the same quarter last year. On average, equities research analysts anticipate that American Express Company will post $5.69 EPS for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Thursday, August 10th. Investors of record on Friday, July 7th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $1.28 annualized dividend and a yield of 1.67%. American Express Company’s dividend payout ratio (DPR) is presently 22.74%.
In related news, insider Douglas E. Buckminster sold 3,000 shares of the stock in a transaction that occurred on Friday, April 28th. The stock was sold at an average price of $79.24, for a total transaction of $237,720.00. Following the completion of the transaction, the insider now directly owns 55,486 shares of the company’s stock, valued at $4,396,710.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Joseph Brennan purchased 4,000 shares of American Express Company stock in a transaction that occurred on Wednesday, February 22nd. The shares were bought at an average cost of $79.74 per share, with a total value of $318,960.00. Following the completion of the transaction, the director now directly owns 4,000 shares of the company’s stock, valued at approximately $318,960. The disclosure for this purchase can be found here. Corporate insiders own 0.78% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. MCF Advisors LLC raised its stake in American Express Company by 0.5% in the first quarter. MCF Advisors LLC now owns 1,282 shares of the payment services company’s stock valued at $101,000 after buying an additional 6 shares in the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its stake in American Express Company by 0.4% in the first quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,641 shares of the payment services company’s stock valued at $209,000 after buying an additional 10 shares in the last quarter. First Citizens Bank & Trust Co. raised its stake in American Express Company by 0.3% in the third quarter. First Citizens Bank & Trust Co. now owns 4,256 shares of the payment services company’s stock valued at $273,000 after buying an additional 11 shares in the last quarter. Accredited Investors Inc. raised its stake in American Express Company by 0.5% in the first quarter. Accredited Investors Inc. now owns 3,174 shares of the payment services company’s stock valued at $251,000 after buying an additional 15 shares in the last quarter. Finally, Wagner Bowman Management Corp raised its stake in American Express Company by 0.3% in the first quarter. Wagner Bowman Management Corp now owns 7,775 shares of the payment services company’s stock valued at $615,000 after buying an additional 22 shares in the last quarter. 81.71% of the stock is owned by hedge funds and other institutional investors.
American Express Company 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).
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