American Express Co. (AXP) Rating Increased 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 research note issued to investors on Tuesday. The brokerage currently has a $57.00 target price on the payment services company’s stock. Vetr‘s price target suggests a potential downside of 5.13% from the stock’s previous close.
Other equities analysts also recently issued reports about the stock. Nomura restated a “hold” rating on shares of American Express in a research note on Saturday, July 9th. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of American Express in a research report on Thursday, July 21st. Citigroup Inc. reaffirmed a “buy” rating on shares of American Express in a research report on Wednesday, August 10th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of American Express in a research report on Sunday, July 24th. Finally, William Blair reaffirmed an “outperform” rating on shares of American Express in a research report on Thursday, July 21st. Nine analysts have rated the stock with a sell rating, nineteen have issued a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $68.04.
American Express (NYSE:AXP) traded up 0.30% during midday trading on Tuesday, reaching $60.08. 3,416,606 shares of the company’s stock were exchanged. The stock has a market capitalization of $55.50 billion, a price-to-earnings ratio of 10.63 and a beta of 1.24. The stock’s 50-day moving average is $63.58 and its 200-day moving average is $63.63. American Express has a 12-month low of $50.27 and a 12-month high of $77.61.
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The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, October 7th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Wednesday, October 5th. This is a boost from American Express’s previous quarterly dividend of $0.29. American Express’s dividend payout ratio is presently 22.54%.
Several hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake in shares of 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 valued at $1,512,449,000 after buying an additional 12,544,274 shares during the last quarter. Dodge & Cox boosted its stake in shares of American Express by 53.8% in the first quarter. Dodge & Cox now owns 26,360,258 shares of the payment services company’s stock valued at $1,618,520,000 after buying an additional 9,222,970 shares during the last quarter. Tesco Pension Investment Ltd acquired a new stake in shares of American Express during the third quarter valued at approximately $141,780,000. Emerald Acquisition Ltd. acquired a new stake in shares of American Express during the second quarter valued at approximately $111,313,000. Finally, International Value Advisers LLC acquired a new stake in shares of American Express during the second quarter valued at approximately $83,148,000. Institutional investors own 82.03% of the company’s stock.
American Express Company Profile
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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