Vetr upgraded shares of American Express Co. (NYSE:AXP) from a strong sell rating to a sell rating in a research report released on Tuesday morning. The brokerage currently has $57.00 price objective on the payment services company’s stock.

AXP has been the topic of several other research reports. Credit Suisse Group AG reissued a sell rating and set a $62.00 target price on shares of American Express in a research note on Thursday, July 14th. Nomura cut shares of American Express from a neutral rating to a reduce rating and lowered their target price for the company from $62.00 to $56.00 in a research note on Thursday, October 6th. BMO Capital Markets began coverage on shares of American Express in a research note on Thursday, July 21st. They set a hold rating and a $73.00 target price on the stock. DA Davidson reissued a neutral rating and set a $66.00 target price on shares of American Express in a research note on Friday, July 8th. Finally, Evercore ISI reissued a hold rating on shares of American Express in a research note on Saturday. Nine research analysts have rated the stock with a sell rating, nineteen have given a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $68.04.

American Express (NYSE:AXP) opened at 60.08 on Tuesday. American Express has a 52 week low of $50.27 and a 52 week high of $77.61. The stock has a market cap of $55.50 billion, a P/E ratio of 10.63 and a beta of 1.24. The company’s 50 day moving average is $63.58 and its 200 day moving average is $63.63.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, October 7th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.13%. This is an increase from American Express’s previous quarterly dividend of $0.29. American Express’s dividend payout ratio (DPR) is currently 22.54%.

Several hedge funds have recently made changes to their positions in the company. Rafferty Asset Management LLC increased its stake in shares of American Express by 59.8% in the first quarter. Rafferty Asset Management LLC now owns 122,345 shares of the payment services company’s stock worth $7,512,000 after buying an additional 45,801 shares in the last quarter. Gardner Russo & Gardner LLC increased its stake in shares of American Express by 1.2% in the first quarter. Gardner Russo & Gardner LLC now owns 151,773 shares of the payment services company’s stock worth $9,319,000 after buying an additional 1,755 shares in the last quarter. Kiltearn Partners LLP increased its stake in shares of American Express by 60.6% in the first quarter. Kiltearn Partners LLP now owns 1,021,800 shares of the payment services company’s stock worth $62,739,000 after buying an additional 385,600 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of American Express by 64.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,743 shares of the payment services company’s stock worth $2,562,000 after buying an additional 16,395 shares in the last quarter. Finally, Bernicke & Associates LTD increased its stake in shares of American Express by 7.4% in the first quarter. Bernicke & Associates LTD now owns 11,450 shares of the payment services company’s stock worth $703,000 after buying an additional 785 shares in the last quarter. Institutional investors and hedge funds own 82.03% of the company’s stock.

American Express Company Profile

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).

5 Day Chart for NYSE:AXP

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