Shares of American Express Company (NYSE:AXP) have earned a consensus rating of “Hold” from the thirty-one ratings firms that are covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and thirteen have given a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $84.98.
AXP has been the subject of a number of research analyst reports. Piper Jaffray Companies reaffirmed a “neutral” rating and set a $83.00 price objective (up previously from $82.00) on shares of American Express in a research report on Saturday, April 22nd. BidaskClub raised shares of American Express from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Instinet reaffirmed an “underperform” rating and set a $80.00 price objective on shares of American Express in a research report on Thursday, June 29th. Barclays PLC reaffirmed a “buy” rating and set a $83.00 price objective on shares of American Express in a research report on Thursday, July 20th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $84.00 price objective on shares of American Express in a research report on Thursday, June 1st.
In related news, insider Paul D. Fabara sold 5,981 shares of the stock in a transaction on Friday, July 21st. The shares were sold at an average price of $85.88, for a total value of $513,648.28. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Anre D. Williams sold 53,111 shares of the stock in a transaction on Monday, July 31st. The shares were sold at an average price of $85.24, for a total transaction of $4,527,181.64. Following the completion of the transaction, the insider now directly owns 79,614 shares in the company, valued at $6,786,297.36. The disclosure for this sale can be found here. Insiders sold a total of 948,287 shares of company stock worth $80,321,961 over the last ninety days. Insiders own 0.67% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in American Express by 1.5% in the second quarter. Vanguard Group Inc. now owns 50,233,957 shares of the payment services company’s stock worth $4,231,710,000 after buying an additional 731,428 shares during the period. BlackRock Inc. increased its position in American Express by 1.1% in the second quarter. BlackRock Inc. now owns 44,685,897 shares of the payment services company’s stock worth $3,764,339,000 after buying an additional 508,030 shares during the period. State Street Corp increased its position in American Express by 1.8% in the first quarter. State Street Corp now owns 40,399,620 shares of the payment services company’s stock worth $3,196,011,000 after buying an additional 731,315 shares during the period. Wellington Management Group LLP increased its position in American Express by 21.7% in the first quarter. Wellington Management Group LLP now owns 17,198,787 shares of the payment services company’s stock worth $1,360,596,000 after buying an additional 3,071,573 shares during the period. Finally, First Eagle Investment Management LLC increased its position in American Express by 0.6% in the second 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 buying an additional 103,546 shares during the period. 83.86% of the stock is currently owned by hedge funds and other institutional investors.
American Express (NYSE:AXP) traded up 1.54% during mid-day trading on Friday, hitting $86.79. 3,774,136 shares of the stock traded hands. The stock has a 50-day moving average price of $84.99 and a 200-day moving average price of $80.40. The stock has a market cap of $76.72 billion, a P/E ratio of 17.80 and a beta of 1.18. American Express has a 12 month low of $59.50 and a 12 month high of $86.97.
American Express (NYSE:AXP) last posted its quarterly earnings results on Wednesday, July 19th. The payment services company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.03. American Express had a net margin of 14.11% and a return on equity of 21.90%. The business had revenue of $8.31 billion during the quarter, compared to analysts’ expectations of $8.20 billion. During the same quarter in the prior year, the company posted $2.10 EPS. The business’s revenue for the quarter was up .9% on a year-over-year basis. On average, equities analysts forecast that American Express will post $5.74 earnings per share for the current year.
American Express declared that its board has approved a share buyback plan on Wednesday, June 28th that authorizes the company to repurchase $4.40 billion in outstanding shares. This repurchase authorization authorizes the payment services company to purchase up to 5.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.
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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