BMO Capital Markets Boosts American Express (AXP) Price Target to $110.00

American Express (NYSE:AXP) had its price objective raised by equities researchers at BMO Capital Markets from $106.00 to $110.00 in a research report issued on Friday, MarketBeat reports. The firm presently has a “market perform” rating on the payment services company’s stock. BMO Capital Markets’ price target points to a potential upside of 3.06% from the company’s previous close.

Other equities analysts have also issued research reports about the company. DZ Bank raised American Express from a “hold” rating to a “buy” rating in a research note on Friday, July 20th. UBS Group raised American Express from a “hold” rating to a “buy” rating in a research note on Friday, July 20th. Royal Bank of Canada reissued a “sell” rating and issued a $87.00 target price on shares of American Express in a research note on Thursday, July 19th. Stephens set a $97.00 target price on American Express and gave the company a “hold” rating in a research note on Friday, June 29th. Finally, Wells Fargo & Co increased their target price on American Express from $115.00 to $122.00 and gave the company an “outperform” rating in a research note on Monday, October 1st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $111.31.

NYSE:AXP opened at $106.73 on Friday. American Express has a 1-year low of $87.54 and a 1-year high of $111.77. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 2.67. The stock has a market capitalization of $91.90 billion, a price-to-earnings ratio of 14.91, a P/E/G ratio of 1.46 and a beta of 1.17.

American Express (NYSE:AXP) last released its earnings results on Thursday, October 18th. The payment services company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.11. American Express had a return on equity of 32.01% and a net margin of 9.51%. The firm had revenue of $10.14 billion for the quarter, compared to analyst estimates of $10.06 billion. During the same quarter in the prior year, the firm posted $1.50 earnings per share. The company’s quarterly revenue was up 9.2% on a year-over-year basis. Research analysts anticipate that American Express will post 7.38 EPS for the current year.

American Express announced that its Board of Directors has initiated a stock repurchase program on Thursday, June 28th that allows the company to repurchase $3.40 billion in shares. This repurchase authorization allows the payment services company to purchase up to 4.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

In related news, CFO Jeffrey C. Campbell sold 9,000 shares of the stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $99.73, for a total transaction of $897,570.00. Following the completion of the transaction, the chief financial officer now directly owns 66,568 shares in the company, valued at $6,638,826.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Marc D. Gordon sold 25,948 shares of the stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $107.83, for a total value of $2,797,972.84. Following the transaction, the insider now owns 33,111 shares of the company’s stock, valued at $3,570,359.13. The disclosure for this sale can be found here. Insiders sold 47,448 shares of company stock valued at $4,942,168 over the last 90 days. Corporate insiders own 0.20% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Motley Fool Asset Management LLC grew its holdings in shares of American Express by 16.3% during the second quarter. Motley Fool Asset Management LLC now owns 9,314 shares of the payment services company’s stock worth $913,000 after buying an additional 1,307 shares in the last quarter. BlackRock Inc. grew its holdings in shares of American Express by 1.4% during the second quarter. BlackRock Inc. now owns 44,131,020 shares of the payment services company’s stock worth $4,324,840,000 after buying an additional 626,323 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of American Express by 251.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 136,187 shares of the payment services company’s stock worth $13,346,000 after buying an additional 97,384 shares in the last quarter. Tiedemann Advisors LLC grew its holdings in shares of American Express by 55.4% during the second quarter. Tiedemann Advisors LLC now owns 18,749 shares of the payment services company’s stock worth $1,837,000 after buying an additional 6,684 shares in the last quarter. Finally, Flagship Harbor Advisors LLC grew its stake in American Express by 18.5% in the second quarter. Flagship Harbor Advisors LLC now owns 5,005 shares of the payment services company’s stock valued at $490,000 after purchasing an additional 783 shares in the last quarter. Institutional investors and hedge funds own 82.92% of the company’s stock.

American Express Company Profile

American Express Company, together with its subsidiaries, provides charge and credit payment card products and travel-related services to consumers and businesses worldwide. It operates through four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.

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