American Express (NYSE:AXP)‘s stock had its “outperform” rating restated by investment analysts at Wells Fargo & Co in a research report issued on Tuesday, January 9th, The Fly reports. They currently have a $115.00 target price on the payment services company’s stock, up from their previous target price of $105.00. Wells Fargo & Co’s target price would indicate a potential upside of 15.69% from the stock’s previous close.
A number of other research analysts have also recently commented on the stock. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $116.00 target price on shares of American Express in a research note on Friday, December 22nd. Bank of America set a $128.00 target price on shares of American Express and gave the company a “buy” rating in a research note on Monday, December 18th. Zacks Investment Research upgraded shares of American Express from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a research note on Monday, September 11th. Credit Suisse Group reiterated a “sell” rating and issued a $79.00 target price on shares of American Express in a research note on Wednesday, October 4th. Finally, Deutsche Bank initiated coverage on shares of American Express in a research note on Tuesday, January 2nd. They issued a “buy” rating and a $118.00 target price for the company. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twelve have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $101.08.
Shares of American Express (NYSE AXP) traded up $0.69 during trading hours on Tuesday, hitting $99.40. The stock had a trading volume of 3,173,591 shares, compared to its average volume of 3,630,000. The firm has a market capitalization of $86,280.00, a P/E ratio of 33.24, a P/E/G ratio of 1.35 and a beta of 1.22. American Express has a 12 month low of $75.51 and a 12 month high of $102.39. The company has a current ratio of 2.37, a quick ratio of 1.90 and a debt-to-equity ratio of 3.11.
American Express (NYSE:AXP) last released its earnings results on Thursday, January 18th. The payment services company reported $1.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.54 by $0.04. American Express had a net margin of 8.08% and a return on equity of 26.07%. The business had revenue of $8.84 billion during the quarter, compared to analysts’ expectations of $8.73 billion. During the same quarter last year, the company earned $0.91 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. research analysts predict that American Express will post 7.16 EPS for the current fiscal year.
In other news, CEO Kenneth I. Chenault sold 96,440 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $97.30, for a total transaction of $9,383,612.00. Following the transaction, the chief executive officer now directly owns 1,178,333 shares in the company, valued at approximately $114,651,800.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Susan Sobbott sold 5,500 shares of the business’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $94.34, for a total transaction of $518,870.00. The disclosure for this sale can be found here. Insiders sold a total of 318,254 shares of company stock worth $31,059,302 over the last ninety days. 0.67% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of American Express by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 50,233,957 shares of the payment services company’s stock worth $4,231,710,000 after purchasing an additional 731,428 shares in the last quarter. BlackRock Inc. grew its position in shares of American Express by 1.1% during the 2nd quarter. BlackRock Inc. now owns 44,685,897 shares of the payment services company’s stock worth $3,764,339,000 after purchasing an additional 508,030 shares in the last quarter. First Eagle Investment Management LLC grew its position in shares of American Express by 0.6% during the 2nd quarter. First Eagle Investment Management LLC now owns 16,342,822 shares of the payment services company’s stock worth $1,376,719,000 after purchasing an additional 103,546 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of American Express by 2.8% during the 4th quarter. Fisher Asset Management LLC now owns 11,872,530 shares of the payment services company’s stock worth $1,179,061,000 after purchasing an additional 325,140 shares in the last quarter. Finally, Veritas Asset Management LLP grew its position in shares of American Express by 7.1% during the 3rd quarter. Veritas Asset Management LLP now owns 11,039,153 shares of the payment services company’s stock worth $998,602,000 after purchasing an additional 735,952 shares in the last quarter. Institutional investors and hedge funds own 83.57% of the company’s stock.
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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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