Several other equities analysts have also weighed in on AXP. Sandler O’Neill reaffirmed a buy rating on shares of American Express in a research note on Wednesday, January 17th. Guggenheim lowered American Express from a buy rating to a neutral rating and boosted their price target for the stock from $98.03 to $102.00 in a research report on Monday. Barclays boosted their price target on American Express from $112.00 to $119.00 in a research report on Friday. Piper Jaffray Companies reissued a hold rating and set a $126.00 price target on shares of American Express in a research report on Thursday. Finally, Stephens set a $89.00 price target on American Express and gave the stock a hold rating in a research report on Thursday, October 19th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twelve have assigned a buy rating to the stock. American Express presently has a consensus rating of Hold and an average price target of $101.08.
American Express (AXP) traded up $0.29 during midday trading on Thursday, hitting $98.32. The stock had a trading volume of 4,952,870 shares, compared to its average volume of 3,877,300. The firm has a market cap of $85,340.00, a price-to-earnings ratio of 32.88, a P/E/G ratio of 1.32 and a beta of 1.22. American Express has a fifty-two week low of $75.39 and a fifty-two week high of $102.39. The company has a quick ratio of 1.90, a current ratio of 2.37 and a debt-to-equity ratio of 3.11.
American Express (NYSE:AXP) last released its quarterly earnings data on Thursday, January 18th. The payment services company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.04. The business had revenue of $8.84 billion for the quarter, compared to analyst estimates of $8.73 billion. American Express had a return on equity of 26.07% and a net margin of 8.08%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.91 EPS. equities analysts expect that American Express will post 7.26 earnings per share for the current fiscal year.
The firm 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 $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Thursday, January 4th. American Express’s payout ratio is 46.82%.
In other American Express news, insider Susan Sobbott sold 5,500 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $94.34, for a total value of $518,870.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Anre D. Williams sold 30,761 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 28,720 shares in the company, valued at $2,682,735.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 442,869 shares of company stock worth $42,823,869. 0.67% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Veritas Asset Management LLP increased its holdings in shares of American Express by 15.2% in the 2nd quarter. Veritas Asset Management LLP now owns 10,303,201 shares of the payment services company’s stock valued at $867,942,000 after acquiring an additional 1,358,474 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of American Express in the 2nd quarter valued at approximately $101,526,000. Canada Pension Plan Investment Board increased its holdings in shares of American Express by 944,765.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,077,147 shares of the payment services company’s stock valued at $90,739,000 after acquiring an additional 1,077,033 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of American Express by 55.9% in the 3rd quarter. Janus Henderson Group PLC now owns 2,675,599 shares of the payment services company’s stock valued at $242,003,000 after acquiring an additional 959,824 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of American Express by 11,602.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 901,100 shares of the payment services company’s stock valued at $75,909,000 after acquiring an additional 893,400 shares during the last quarter. 83.45% of the stock is currently owned by institutional investors.
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American Express 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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