American Express (NYSE:AXP)‘s stock had its “outperform” rating reissued by equities research analysts at Wells Fargo & Co in a report issued on Tuesday. They currently have a $115.00 price objective on the payment services company’s stock, up from their prior price objective of $105.00. Wells Fargo & Co’s price target suggests a potential upside of 14.17% from the stock’s previous close.
Several other research analysts have also issued reports on AXP. Zacks Investment Research raised American Express from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a research report on Monday, September 11th. Buckingham Research started coverage on American Express in a research report on Monday, October 2nd. They set a “neutral” rating and a $92.00 target price for the company. Credit Suisse Group reaffirmed a “sell” rating and set a $79.00 target price on shares of American Express in a research report on Wednesday, October 4th. Bank of America reaffirmed a “buy” rating and set a $102.00 target price on shares of American Express in a research report on Monday, October 9th. Finally, Compass Point lowered American Express from a “buy” rating to a “neutral” rating in a research report on Thursday, October 12th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have issued a buy rating to the company. American Express currently has an average rating of “Hold” and an average price target of $98.96.
Shares of American Express (NYSE:AXP) traded down $0.49 during trading hours on Tuesday, reaching $100.73. The company had a trading volume of 2,740,000 shares, compared to its average volume of 3,230,000. The company has a market cap of $87,430.00, a price-to-earnings ratio of 19.45, a P/E/G ratio of 1.49 and a beta of 1.22. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.90 and a current ratio of 1.90. American Express has a twelve month low of $75.39 and a twelve month high of $101.65.
In other news, insider Anre D. Williams sold 30,761 shares of the firm’s stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $93.41, for a total value of $2,873,385.01. Following the completion of the sale, the insider now directly owns 28,720 shares in the company, valued at approximately $2,682,735.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Linda Zukauckas sold 3,196 shares of the firm’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $95.42, for a total value of $304,962.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 442,869 shares of company stock valued at $42,823,869. 0.67% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of AXP. Sawyer & Company Inc bought a new position in American Express in the 4th quarter valued at about $178,000. Rockland Trust Co. lifted its position in American Express by 80.4% in the 4th quarter. Rockland Trust Co. now owns 4,066 shares of the payment services company’s stock valued at $404,000 after acquiring an additional 1,812 shares in the last quarter. Berson & Corrado Investment Advisors LLC bought a new position in American Express in the 4th quarter valued at about $229,000. First Citizens Bank & Trust Co. bought a new position in shares of American Express during the 4th quarter worth approximately $209,000. Finally, Moon Capital Management LLC bought a new position in shares of American Express during the 4th quarter worth approximately $275,000. Institutional investors own 83.35% of the company’s stock.
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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