American Express (NYSE:AXP) had its target price lifted by Wells Fargo & Co from $135.00 to $140.00 in a report issued on Wednesday morning, The Fly reports. The brokerage currently has an outperform rating on the payment services company’s stock.
A number of other equities research analysts have also recently commented on AXP. Jefferies Financial Group reissued a buy rating and set a GBX 1,453 ($18.99) target price on shares of in a research report on Tuesday, June 18th. Stephens set a $131.00 target price on shares of American Express and gave the company a buy rating in a research report on Monday, May 20th. Bank of America decreased their target price on shares of Canopy Growth from $80.00 to $75.00 and set a buy rating for the company in a research report on Wednesday, June 19th. Deutsche Bank reissued a buy rating and set a $80.00 target price on shares of Bayerische Motoren Werke in a research report on Monday, July 8th. Finally, ValuEngine cut shares of Wolverine World Wide from a hold rating to a sell rating in a research report on Monday, May 20th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $123.03.
Shares of AXP opened at $127.96 on Wednesday. The stock has a 50 day simple moving average of $122.16. American Express has a fifty-two week low of $89.05 and a fifty-two week high of $128.42. The stock has a market cap of $106.86 billion, a PE ratio of 17.13, a PEG ratio of 1.48 and a beta of 1.07. The company has a debt-to-equity ratio of 2.63, a current ratio of 1.88 and a quick ratio of 1.88.
American Express (NYSE:AXP) last announced its quarterly earnings results on Thursday, April 18th. The payment services company reported $2.01 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.01. American Express had a net margin of 16.60% and a return on equity of 29.86%. The firm had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.46 billion. During the same quarter in the prior year, the company earned $1.86 EPS. The company’s revenue was up 6.6% compared to the same quarter last year. On average, equities analysts expect that American Express will post 8.12 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be given a dividend of $0.39 per share. The ex-dividend date is Wednesday, July 3rd. This represents a $1.56 dividend on an annualized basis and a yield of 1.22%. American Express’s payout ratio is 21.28%.
In other American Express news, Chairman Stephen J. Squeri sold 101,964 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $119.95, for a total transaction of $12,230,581.80. Following the transaction, the chairman now owns 258,948 shares in the company, valued at approximately $31,060,812.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jeffrey C. Campbell sold 6,500 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $122.93, for a total transaction of $799,045.00. Following the transaction, the chief financial officer now owns 68,379 shares in the company, valued at approximately $8,405,830.47. The disclosure for this sale can be found here. Insiders have sold 183,797 shares of company stock valued at $21,861,060 in the last three months. 0.21% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the business. Comerica Securities Inc. lifted its holdings in American Express by 5.3% during the 4th quarter. Comerica Securities Inc. now owns 5,582 shares of the payment services company’s stock worth $532,000 after buying an additional 279 shares during the period. Bessemer Group Inc. lifted its holdings in American Express by 1.4% during the 4th quarter. Bessemer Group Inc. now owns 9,867 shares of the payment services company’s stock worth $940,000 after buying an additional 136 shares during the period. Berman Capital Advisors LLC acquired a new position in American Express during the 4th quarter worth about $87,000. Oakworth Capital Inc. lifted its holdings in American Express by 17.4% during the 4th quarter. Oakworth Capital Inc. now owns 3,777 shares of the payment services company’s stock worth $360,000 after buying an additional 560 shares during the period. Finally, Rench Wealth Management Inc. lifted its holdings in American Express by 1.7% during the 4th quarter. Rench Wealth Management Inc. now owns 27,546 shares of the payment services company’s stock worth $2,626,000 after buying an additional 470 shares during the period. Institutional investors and hedge funds own 83.60% of the company’s stock.
About American Express
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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