American Express Company (AXP) Given a $87.00 Price Target at Goldman Sachs Group Inc
Goldman Sachs Group Inc set a $87.00 target price on American Express Company (NYSE:AXP) in a report published on Thursday. The brokerage currently has a neutral rating on the payment services company’s stock.
AXP has been the subject of several other research reports. Zacks Investment Research raised shares of American Express Company from a hold rating to a buy rating and set a $90.00 price target for the company in a research report on Thursday, March 2nd. Vetr lowered shares of American Express Company from a strong-buy rating to a buy rating and set a $89.72 price target for the company. in a research report on Monday, February 27th. Oppenheimer Holdings Inc. set a $97.00 price target on shares of American Express Company and gave the stock a buy rating in a research report on Monday, March 6th. Instinet reaffirmed a reduce rating and set a $63.00 price target on shares of American Express Company in a research report on Saturday, March 11th. Finally, Credit Suisse Group AG reaffirmed a hold rating and set a $75.00 price target (down previously from $94.00) on shares of American Express Company in a research report on Friday, March 10th. Seven equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $76.29.
Shares of American Express Company (NYSE:AXP) traded down 0.30% on Thursday, reaching $79.78. 4,253,096 shares of the company were exchanged. American Express Company has a 52-week low of $57.15 and a 52-week high of $82.00. The company has a market capitalization of $71.90 billion, a P/E ratio of 14.12 and a beta of 1.19. The stock has a 50 day moving average of $78.35 and a 200-day moving average of $74.02. American Express Company also was the target of some unusual options trading activity on Wednesday. Investors purchased 21,536 put options on the stock. This is an increase of approximately 418% compared to the average volume of 4,154 put options.
American Express Company (NYSE:AXP) last announced its quarterly earnings data on Wednesday, April 19th. The payment services company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.06. The business had revenue of $7.89 billion for the quarter, compared to the consensus estimate of $7.76 billion. American Express Company had a net margin of 16.63% and a return on equity of 33.49%. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.45 earnings per share. On average, analysts predict that American Express Company will post $5.64 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 10th. Shareholders of record on Friday, April 7th will be paid a dividend of $0.32 per share. The ex-dividend date is Wednesday, April 5th. This represents a $1.28 dividend on an annualized basis and a yield of 1.60%. American Express Company’s dividend payout ratio (DPR) is 22.74%.
In other American Express Company news, insider L Kevin Cox sold 32,726 shares of the stock in a transaction on Monday, February 6th. The shares were sold at an average price of $77.93, for a total transaction of $2,550,337.18. Following the transaction, the insider now directly owns 50,463 shares in the company, valued at approximately $3,932,581.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Joseph Brennan acquired 4,000 shares of American Express Company stock in a transaction on Wednesday, February 22nd. The shares were bought at an average price of $79.74 per share, for a total transaction of $318,960.00. Following the completion of the purchase, the director now directly owns 4,000 shares in the company, valued at $318,960. The disclosure for this purchase can be found here. Corporate insiders own 0.78% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp increased its position in American Express Company by 10.9% in the fourth quarter. State Street Corp now owns 39,668,305 shares of the payment services company’s stock worth $2,938,629,000 after buying an additional 3,894,647 shares during the period. Dodge & Cox bought a new position in American Express Company during the fourth quarter worth approximately $2,128,667,000. First Eagle Investment Management LLC increased its position in American Express Company by 0.6% in the third quarter. First Eagle Investment Management LLC now owns 15,831,610 shares of the payment services company’s stock worth $1,013,856,000 after buying an additional 97,706 shares during the period. Norges Bank bought a new position in American Express Company during the fourth quarter worth approximately $616,804,000. Finally, Morgan Stanley increased its position in American Express Company by 5.1% in the third quarter. Morgan Stanley now owns 7,273,531 shares of the payment services company’s stock worth $465,797,000 after buying an additional 350,719 shares during the period. Hedge funds and other institutional investors own 81.71% of the company’s stock.
About American Express Company
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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