JPMorgan Chase & Co. set a $122.00 price target on American Express (NYSE:AXP) in a research report sent to investors on Tuesday, TipRanks reports. The brokerage currently has a hold rating on the payment services company’s stock.
Several other brokerages also recently issued reports on AXP. BMO Capital Markets lifted their target price on American Express to $119.00 and gave the company a market perform rating in a research note on Monday, July 22nd. ValuEngine downgraded American Express from a hold rating to a sell rating in a research note on Wednesday, October 2nd. Deutsche Bank started coverage on American Express in a research note on Monday, July 8th. They set a buy rating and a $142.00 target price on the stock. Morgan Stanley set a $142.00 price objective on American Express and gave the stock a buy rating in a research note on Friday, August 9th. Finally, Jefferies Financial Group set a $130.00 price objective on American Express and gave the stock a hold rating in a research note on Friday, July 19th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $124.15.
AXP traded up $1.38 on Tuesday, hitting $116.40. 2,820,328 shares of the company’s stock traded hands, compared to its average volume of 3,398,531. The company’s 50 day simple moving average is $117.86 and its 200-day simple moving average is $119.40. The firm has a market cap of $93.37 billion, a price-to-earnings ratio of 15.88, a P/E/G ratio of 1.36 and a beta of 1.06. American Express has a one year low of $89.05 and a one year high of $129.34. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 2.50.
American Express (NYSE:AXP) last issued its earnings results on Friday, July 19th. The payment services company reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.02. The company had revenue of $10.84 billion for the quarter, compared to the consensus estimate of $10.82 billion. American Express had a return on equity of 29.75% and a net margin of 16.60%. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the company earned $1.84 EPS. As a group, equities analysts anticipate that American Express will post 8.13 EPS for the current fiscal year.
The company also recently disclosed a 0.39000 dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be paid a $0.43 dividend. This represents a yield of 1.3%. The ex-dividend date is Thursday, October 3rd. American Express’s payout ratio is 23.47%.
In other news, CEO Stephen J. Squeri sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $118.33, for a total transaction of $1,774,950.00. Following the transaction, the chief executive officer now owns 199,609 shares of the company’s stock, valued at approximately $23,619,732.97. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 15,455 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $127.06, for a total value of $1,963,712.30. Following the transaction, the insider now directly owns 35,931 shares in the company, valued at approximately $4,565,392.86. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,500 shares of company stock worth $4,618,653. Corporate insiders own 0.21% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. HMS Capital Management LLC bought a new position in shares of American Express during the 2nd quarter valued at approximately $37,000. Enterprise Trust & Investment Co bought a new position in shares of American Express during the 3rd quarter valued at approximately $38,000. Edge Wealth Management LLC increased its position in shares of American Express by 140.3% during the 2nd quarter. Edge Wealth Management LLC now owns 370 shares of the payment services company’s stock valued at $46,000 after purchasing an additional 216 shares during the last quarter. Virtus ETF Advisers LLC bought a new position in shares of American Express during the 2nd quarter valued at approximately $48,000. Finally, Prestige Wealth Management Group LLC bought a new position in shares of American Express during the 2nd quarter valued at approximately $49,000. 83.86% of the stock is currently owned by hedge funds and other institutional investors.
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 three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.
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