American Express (NYSE:AXP) received a $128.00 target price from equities researchers at Bank of America in a research report issued on Monday. The firm currently has a “buy” rating on the payment services company’s stock. Bank of America’s target price indicates a potential upside of 29.92% from the stock’s previous close.
A number of other equities research analysts have also recently commented on the stock. Zacks Investment Research raised shares of American Express from a “hold” rating to a “buy” rating and set a $96.00 target price for the company in a research report on Tuesday, August 29th. Morgan Stanley decreased their target price on shares of American Express from $90.00 to $89.00 and set an “equal weight” rating for the company in a research report on Friday, September 8th. Buckingham Research initiated coverage on shares of American Express in a research report on Monday, October 2nd. They set a “neutral” rating and a $92.00 target price for the company. Credit Suisse Group reissued a “sell” rating and set a $79.00 target price on shares of American Express in a research report on Wednesday, October 4th. Finally, Wells Fargo & Company initiated coverage on shares of American Express in a research report on Tuesday, October 10th. They set an “outperform” rating and a $105.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $92.44.
Shares of American Express (NYSE:AXP) traded up $1.37 on Monday, hitting $98.52. 7,891,700 shares of the stock traded hands, compared to its average volume of 3,611,404. American Express has a 52-week low of $73.50 and a 52-week high of $99.75. The stock has a market cap of $85,475.90, a PE ratio of 18.86, a PEG ratio of 1.64 and a beta of 1.22. 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 news, insider Douglas E. Buckminster sold 88,930 shares of the stock in a transaction on Monday, December 11th. The shares were sold at an average price of $98.87, for a total value of $8,792,509.10. Following the sale, the insider now owns 152,507 shares in the company, valued at $15,078,367.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Susan Sobbott sold 5,500 shares of the stock in a transaction on 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. In the last ninety days, insiders sold 343,870 shares of company stock valued at $33,094,717. Corporate insiders own 0.67% of the company’s stock.
Several large investors have recently added to or reduced their stakes in AXP. MCF Advisors LLC grew its position in 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 buying an additional 4 shares during the period. Appleton Partners Inc. MA grew its position in 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 buying an additional 8 shares during the period. Westside Investment Management Inc. grew 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 buying an additional 8 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC grew its position in American Express by 0.4% during the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,652 shares of the payment services company’s stock valued at $223,000 after buying an additional 11 shares during the period. Finally, Bath Savings Trust Co grew its position in American Express by 0.3% during the second quarter. Bath Savings Trust Co now owns 4,388 shares of the payment services company’s stock valued at $369,000 after buying an additional 14 shares during the period. Hedge funds and other institutional investors own 83.51% of the company’s stock.
American Express Company Profile
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).
