American Express (NYSE:AXP) was downgraded by equities researchers at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued to investors on Friday, The Fly reports.
Other research analysts also recently issued research reports about the company. Bank of America reaffirmed a “buy” rating and issued a $102.00 price objective on shares of American Express in a research note on Monday, October 9th. Oppenheimer set a $99.00 price objective on American Express and gave the company a “buy” rating in a research note on Thursday, October 19th. Zacks Investment Research raised American Express from a “hold” rating to a “buy” rating and set a $107.00 price objective for the company in a research note on Wednesday, November 1st. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $116.00 price objective on shares of American Express in a research note on Friday, December 22nd. Finally, Deutsche Bank started coverage on American Express in a research note on Tuesday, January 2nd. They issued a “buy” rating and a $118.00 price objective for the company. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $98.96.
Shares of American Express (NYSE AXP) opened at $100.73 on Friday. The stock has a market cap of $87,430.00, a PE ratio of 19.45, a PEG ratio of 1.49 and a beta of 1.22. American Express has a 52-week low of $75.39 and a 52-week high of $101.65. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.90 and a quick ratio of 1.90.
In other American Express news, insider Ashwini Gupta sold 90,658 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $94.71, for a total value of $8,586,219.18. Following the completion of the transaction, the insider now owns 289,996 shares in the company, valued at approximately $27,465,521.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction, the insider now owns 28,720 shares of the company’s stock, valued at approximately $2,682,735.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 442,869 shares of company stock valued at $42,823,869. Insiders own 0.67% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in AXP. MCF Advisors LLC lifted its holdings in shares of American Express by 0.3% during the second quarter. MCF Advisors LLC now owns 1,286 shares of the payment services company’s stock valued at $108,000 after purchasing an additional 4 shares in the last quarter. Appleton Partners Inc. MA lifted its holdings in shares of American Express by 0.3% during the second quarter. Appleton Partners Inc. MA now owns 2,658 shares of the payment services company’s stock valued at $224,000 after purchasing an additional 8 shares in the last quarter. Westside Investment Management Inc. increased its position in American Express by 0.5% during the second 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. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position in American Express by 0.4% during the first quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,641 shares of the payment services company’s stock valued at $209,000 after acquiring an additional 10 shares during the last quarter. Finally, First Citizens Bank & Trust Co. increased its position in American Express by 0.3% during the third quarter. First Citizens Bank & Trust Co. now owns 4,256 shares of the payment services company’s stock valued at $273,000 after acquiring an additional 11 shares during the last quarter. 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).
