Investment analysts at Deutsche Bank assumed coverage on shares of American Express (NYSE:AXP) in a note issued to investors on Tuesday, The Fly reports. The brokerage set a “buy” rating on the payment services company’s stock.
A number of other research analysts have also recently issued reports on the stock. Morgan Stanley reduced their price objective on shares of American Express from $90.00 to $89.00 and set an “equal weight” rating for the company in a report on Friday, September 8th. Zacks Investment Research upgraded shares of American Express from a “hold” rating to a “buy” rating and set a $94.00 price objective for the company in a report on Monday, September 11th. Credit Suisse Group reiterated a “sell” rating and set a $79.00 price objective on shares of American Express in a report on Wednesday, October 4th. Atlantic Securities upgraded shares of American Express from an “underweight” rating to a “neutral” rating and set a $100.00 price target on the stock in a report on Tuesday, October 24th. Finally, Wells Fargo & Co assumed coverage on shares of American Express in a report on Tuesday, October 10th. They set an “outperform” rating and a $105.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have given a buy rating to the company’s stock. American Express presently has an average rating of “Hold” and an average target price of $94.04.
Shares of American Express (NYSE:AXP) traded down $0.37 during midday trading on Tuesday, reaching $98.94. 2,745,793 shares of the company were exchanged, compared to its average volume of 3,570,738. American Express has a fifty-two week low of $73.84 and a fifty-two week high of $100.53. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.90 and a quick ratio of 1.90. The company has a market capitalization of $85,880.00, a P/E ratio of 19.10, a PEG ratio of 1.65 and a beta of 1.22.
In other American Express news, EVP Linda Zukauckas sold 3,196 shares of the company’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $95.42, for a total value of $304,962.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Susan Sobbott sold 5,500 shares of the stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $94.34, for a total transaction of $518,870.00. The disclosure for this sale can be found here. Insiders sold a total of 430,080 shares of company stock valued at $41,552,003 in the last ninety days. 0.67% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the business. Northside Capital Management LLC purchased a new position in American Express during the first quarter valued at approximately $575,000. Lazard Asset Management LLC lifted its holdings in American Express by 117.3% during the first quarter. Lazard Asset Management LLC now owns 597,830 shares of the payment services company’s stock valued at $47,293,000 after purchasing an additional 322,742 shares in the last quarter. First Heartland Consultants Inc. raised its position in shares of American Express by 32.4% during the first quarter. First Heartland Consultants Inc. now owns 7,564 shares of the payment services company’s stock valued at $598,000 after buying an additional 1,850 shares during the last quarter. BlackRock Inc. raised its position in shares of American Express by 2,686.0% during the first quarter. BlackRock Inc. now owns 44,177,867 shares of the payment services company’s stock valued at $3,494,913,000 after buying an additional 42,592,136 shares during the last quarter. Finally, Epoch Investment Partners Inc. bought a new stake in shares of American Express during the first quarter valued at approximately $23,057,000. Institutional investors and hedge funds 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).
