Barclays Increases American Express (AXP) Price Target to $119.00

American Express (NYSE:AXP) had its price objective raised by Barclays from $112.00 to $119.00 in a research note published on Friday morning.

Several other research analysts have also issued reports on AXP. Buckingham Research began coverage on shares of American Express in a research note on Monday, October 2nd. They issued a neutral rating and a $92.00 price target for the company. Credit Suisse Group reiterated a sell rating and issued a $79.00 price target on shares of American Express in a research note on Wednesday, October 4th. Bank of America reiterated a buy rating and issued a $102.00 price target on shares of American Express in a research note on Monday, October 9th. Wells Fargo & Co began coverage on shares of American Express in a research note on Tuesday, October 10th. They issued an outperform rating and a $105.00 price target for the company. Finally, Compass Point lowered shares of American Express from a buy rating to a neutral rating in a research note on Thursday, October 12th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the stock. American Express has a consensus rating of Hold and an average price target of $100.80.

Shares of American Express (NYSE AXP) traded down $1.83 during midday trading on Friday, reaching $98.03. 12,292,342 shares of the company’s stock traded hands, compared to its average volume of 3,170,000. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 2.31. 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 18.92, a PEG ratio of 1.40 and a beta of 1.22.

American Express (NYSE:AXP) last issued its quarterly earnings data on Thursday, January 18th. The payment services company reported $1.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.54 by $0.04. American Express had a net margin of 8.08% and a return on equity of 25.12%. The business had revenue of $8.84 billion during the quarter, compared to analyst estimates of $8.73 billion. During the same period in the prior year, the business earned $0.91 EPS. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. research analysts expect that American Express will post 6.96 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, January 5th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $1.40 dividend on an annualized basis and a yield of 1.43%. American Express’s dividend payout ratio is currently 27.03%.

In other 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 sale, the chief executive officer now owns 1,178,333 shares of the company’s stock, valued at approximately $114,651,800.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Anre D. Williams sold 30,761 shares of the firm’s stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $93.41, for a total transaction of $2,873,385.01. Following the sale, the insider now directly owns 28,720 shares in the company, valued at approximately $2,682,735.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 442,869 shares of company stock valued at $42,823,869. 0.67% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Farmers & Merchants Trust Co of Chambersburg PA boosted its holdings in shares of American Express by 30.4% during the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock valued at $109,000 after acquiring an additional 300 shares during the last quarter. Capital Analysts LLC purchased a new stake in shares of American Express during the 2nd quarter valued at about $115,000. Zions Bancorporation boosted its holdings in shares of American Express by 912.9% during the 3rd quarter. Zions Bancorporation now owns 1,337 shares of the payment services company’s stock valued at $121,000 after acquiring an additional 1,205 shares during the last quarter. MV Capital Management Inc. boosted its holdings in shares of American Express by 3.5% during the 2nd quarter. MV Capital Management Inc. now owns 1,448 shares of the payment services company’s stock valued at $122,000 after acquiring an additional 49 shares during the last quarter. Finally, Westside Investment Management Inc. boosted its holdings in shares of American Express by 0.5% during the 2nd quarter. Westside Investment Management Inc. now owns 1,536 shares of the payment services company’s stock valued at $129,000 after acquiring an additional 8 shares during the last quarter. 83.36% of the stock is currently owned by hedge funds and other 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).

Analyst Recommendations for American Express (NYSE:AXP)

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