American Express Co. (AXP) Upgraded to Sell at Vetr Inc.
American Express Co. (NYSE:AXP) was upgraded by stock analysts at Vetr from a “strong sell” rating to a “sell” rating in a note issued to investors on Tuesday. The firm presently has a $57.00 price objective on the payment services company’s stock. Vetr‘s price objective points to a potential downside of 5.13% from the stock’s previous close.
Several other equities analysts have also recently issued reports on the company. Nomura cut American Express from a “neutral” rating to a “reduce” rating and dropped their target price for the stock from $62.00 to $56.00 in a research report on Thursday, October 6th. Wells Fargo & Co. reiterated a “hold” rating and set a $65.00 target price on shares of American Express in a research report on Sunday, July 10th. Credit Suisse Group AG reiterated a “sell” rating and set a $62.00 target price on shares of American Express in a research report on Thursday, July 14th. Evercore ISI reiterated a “hold” rating on shares of American Express in a research report on Saturday. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of American Express in a research note on Sunday, July 24th. Nine research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $68.04.
American Express (NYSE:AXP) traded up 0.30% during midday trading on Tuesday, hitting $60.08. The company had a trading volume of 3,416,606 shares. The stock’s 50-day moving average price is $63.58 and its 200-day moving average price is $63.63. American Express has a 52-week low of $50.27 and a 52-week high of $77.61. The stock has a market cap of $55.50 billion, a PE ratio of 10.63 and a beta of 1.24.
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The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Friday, October 7th will be issued a dividend of $0.32 per share. The ex-dividend date is Wednesday, October 5th. This represents a $1.28 dividend on an annualized basis and a yield of 2.13%. This is a boost from American Express’s previous quarterly dividend of $0.29. American Express’s payout ratio is presently 22.54%.
Institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its position in American Express by 103.8% in the first quarter. Wellington Management Group LLP now owns 24,632,717 shares of the payment services company’s stock worth $1,512,449,000 after buying an additional 12,544,274 shares during the last quarter. Dodge & Cox boosted its position in American Express by 53.8% in the first quarter. Dodge & Cox now owns 26,360,258 shares of the payment services company’s stock worth $1,618,520,000 after buying an additional 9,222,970 shares during the last quarter. Tesco Pension Investment Ltd acquired a new position in American Express during the third quarter worth about $141,780,000. Emerald Acquisition Ltd. acquired a new position in American Express during the second quarter worth about $111,313,000. Finally, International Value Advisers LLC acquired a new position in American Express during the second quarter worth about $83,148,000. Institutional investors own 82.03% of the company’s stock.
About American Express
American Express Company is a services company. The Company’s principal products and services are charge and credit payment card products, and travel-related services offered to consumers and businesses around the world. The Company’s segments include U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).
To view Vetr’s full report, visit Vetr’s official website.
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