American Express (AXP) Given New $119.00 Price Target at Barclays
Several other research analysts have also recently commented on the stock. Oppenheimer set a $117.00 target price on shares of American Express and gave the stock a buy rating in a report on Friday. Piper Jaffray Companies restated a hold rating and set a $126.00 target price on shares of American Express in a report on Thursday. Sandler O’Neill reiterated a buy rating on shares of American Express in a research note on Wednesday, January 17th. JPMorgan Chase & Co. cut shares of American Express from an overweight rating to a neutral rating and set a $90.00 price target for the company. in a research note on Friday, January 12th. Finally, Zacks Investment Research upgraded shares of American Express from a hold rating to a buy rating and set a $113.00 price target for the company in a research note on Thursday, January 11th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and thirteen have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $100.80.
American Express (NYSE AXP) opened at $98.03 on Friday. American Express has a 1-year low of $75.39 and a 1-year high of $102.39. The company has a market cap of $85,090.00, a price-to-earnings ratio of 32.79, a P/E/G ratio of 1.32 and a beta of 1.22. The company has a current ratio of 2.37, a quick ratio of 1.90 and a debt-to-equity ratio of 3.11.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 5th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend is Thursday, January 4th. American Express’s payout ratio is presently 46.82%.
In related news, CEO Kenneth I. Chenault sold 96,440 shares of the firm’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $97.30, for a total transaction of $9,383,612.00. Following the transaction, the chief executive officer now directly owns 1,178,333 shares of the company’s stock, valued at $114,651,800.90. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Linda Zukauckas sold 3,196 shares of the firm’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $95.42, for a total transaction of $304,962.32. The disclosure for this sale can be found here. Insiders sold 442,869 shares of company stock worth $42,823,869 over the last three months. Insiders own 0.67% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. increased its position in American Express by 4.9% during the third quarter. Advisors Asset Management Inc. now owns 143,134 shares of the payment services company’s stock worth $12,948,000 after acquiring an additional 6,709 shares during the period. Bronfman E.L. Rothschild L.P. grew its stake in American Express by 10.8% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 5,669 shares of the payment services company’s stock worth $478,000 after buying an additional 554 shares in the last quarter. Westpac Banking Corp grew its stake in American Express by 2.2% during the third quarter. Westpac Banking Corp now owns 243,683 shares of the payment services company’s stock worth $22,044,000 after buying an additional 5,252 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new stake in American Express during the third quarter worth about $5,505,000. Finally, Shelton Capital Management acquired a new stake in American Express during the second quarter worth about $670,000. 83.45% of the stock is currently owned by institutional investors and hedge funds.
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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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