American Express (AXP) Stock Rating Upgraded by Nomura
Nomura upgraded shares of American Express (NYSE:AXP) from a neutral rating to a buy rating in a report published on Monday, MarketBeat Ratings reports. Nomura currently has $108.00 price target on the payment services company’s stock.
Other research analysts have also recently issued research reports about the company. Barclays lifted their target price on American Express from $112.00 to $119.00 in a research report on Friday, January 19th. Zacks Investment Research upgraded American Express from a hold rating to a buy rating and set a $107.00 target price on the stock in a research report on Wednesday, November 1st. Bank of America lifted their target price on American Express from $102.00 to $106.00 and gave the company a buy rating in a research report on Thursday, October 19th. Oppenheimer set a $99.00 target price on American Express and gave the company a buy rating in a research report on Thursday, October 19th. Finally, Keefe, Bruyette & Woods reiterated a buy rating and issued a $116.00 target price on shares of American Express in a research report on Friday, December 22nd. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have given a buy rating to the stock. American Express has an average rating of Hold and an average price target of $102.68.
American Express (AXP) opened at $96.23 on Monday. The company has a debt-to-equity ratio of 3.11, a current ratio of 2.37 and a quick ratio of 1.90. American Express has a 12-month low of $75.51 and a 12-month high of $102.39. The company has a market capitalization of $83,530.00, a price-to-earnings ratio of 32.18, a P/E/G ratio of 1.30 and a beta of 1.19.
The company also recently declared a quarterly dividend, which was paid on Friday, February 9th. Stockholders of record on Friday, January 5th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Thursday, January 4th. American Express’s dividend payout ratio (DPR) is currently 46.82%.
In related news, insider James Peter Bush sold 12,789 shares of American Express stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $99.45, for a total value of $1,271,866.05. Following the transaction, the insider now directly owns 92,504 shares of the company’s stock, valued at $9,199,522.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Michael John O’neill sold 43,741 shares of American Express stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $98.85, for a total value of $4,323,797.85. Following the completion of the transaction, the executive vice president now directly owns 43,731 shares in the company, valued at $4,322,809.35. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 326,110 shares of company stock worth $31,858,001. Company insiders own 0.67% of the company’s stock.
Several institutional investors have recently bought and sold shares of AXP. Vanguard Group Inc. lifted its stake 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 valued at $4,231,710,000 after buying an additional 731,428 shares during the period. BlackRock Inc. lifted its stake 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 valued at $3,764,339,000 after buying an additional 508,030 shares during the period. Fisher Asset Management LLC lifted its stake in American Express by 2.8% in the fourth quarter. Fisher Asset Management LLC now owns 11,872,530 shares of the payment services company’s stock valued at $1,179,061,000 after buying an additional 325,140 shares during the period. Veritas Asset Management LLP lifted its stake in American Express by 7.1% in the third quarter. Veritas Asset Management LLP now owns 11,039,153 shares of the payment services company’s stock valued at $998,602,000 after buying an additional 735,952 shares during the period. Finally, Geode Capital Management LLC lifted its stake in American Express by 5.2% in the fourth quarter. Geode Capital Management LLC now owns 7,700,608 shares of the payment services company’s stock valued at $763,153,000 after buying an additional 382,691 shares during the period. 83.37% of the stock is currently owned by institutional investors.
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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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