American Express Co. (NYSE:AXP) was downgraded by investment analysts at Vetr from a “hold” rating to a “sell” rating in a report released on Monday. They currently have a $64.38 price objective on the payment services company’s stock. Vetr‘s price target indicates a potential downside of 11.64% from the stock’s previous close.
A number of other research firms have also issued reports on AXP. Credit Suisse Group AG reissued a “sell” rating and issued a $62.00 target price on shares of American Express in a report on Thursday, July 14th. Nomura lowered American Express from a “neutral” rating to a “reduce” rating and dropped their target price for the company from $62.00 to $56.00 in a report on Thursday, October 6th. BMO Capital Markets began coverage on American Express in a report on Thursday, July 21st. They issued a “hold” rating and a $73.00 target price on the stock. Evercore ISI reissued a “hold” rating on shares of American Express in a report on Saturday, October 15th. Finally, Zacks Investment Research lowered American Express from a “hold” rating to a “sell” rating in a report on Wednesday, July 20th. Eight equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $67.65.
American Express (NYSE:AXP) traded down 0.03% on Monday, reaching $72.86. The company had a trading volume of 1,900,447 shares. American Express has a 52-week low of $50.27 and a 52-week high of $73.18. The company has a market capitalization of $66.69 billion, a PE ratio of 12.95 and a beta of 1.19. The company’s 50-day moving average is $66.74 and its 200-day moving average is $64.64.
American Express (NYSE:AXP) last released its quarterly earnings results on Wednesday, October 19th. The payment services company reported $1.24 EPS for the quarter, topping the consensus estimate of $0.96 by $0.28. The company had revenue of $7.80 billion for the quarter, compared to analyst estimates of $7.70 billion. American Express had a return on equity of 27.84% and a net margin of 16.67%. The firm’s revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.24 earnings per share. Equities analysts anticipate that American Express will post $5.73 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 10th. Stockholders of record on Friday, January 6th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Wednesday, January 4th. American Express’s payout ratio is 22.70%.
In related news, insider Susan Sobbott sold 19,186 shares of the stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $70.45, for a total value of $1,351,653.70. Following the completion of the transaction, the insider now owns 56,870 shares of the company’s stock, valued at $4,006,491.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ashwini Gupta sold 140,808 shares of the stock in a transaction dated Friday, October 21st. The shares were sold at an average price of $67.18, for a total value of $9,459,481.44. Following the completion of the transaction, the insider now directly owns 239,718 shares of the company’s stock, valued at approximately $16,104,255.24. The disclosure for this sale can be found here. 0.78% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. First Heartland Consultants Inc. increased its position in shares of American Express by 23.3% in the third quarter. First Heartland Consultants Inc. now owns 4,207 shares of the payment services company’s stock worth $269,000 after buying an additional 794 shares in the last quarter. Fayez Sarofim & Co. increased its position in shares of American Express by 4.2% in the third quarter. Fayez Sarofim & Co. now owns 2,631,873 shares of the payment services company’s stock worth $168,474,000 after buying an additional 106,544 shares in the last quarter. Sheets Smith Wealth Management acquired a new position in shares of American Express during the third quarter worth approximately $376,000. Whalerock Point Partners LLC acquired a new position in shares of American Express during the third quarter worth approximately $434,000. Finally, Piedmont Investment Advisors LLC acquired a new position in shares of American Express during the third quarter worth approximately $12,248,000. 82.13% of the stock is owned by hedge funds and other institutional investors.
About American Express
American Express Company is a services company. The Company’s principal products and services are charge and credit payment card products, and travel-related services offered to consumers and businesses around the world. The Company’s segments include U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).