American Express (NYSE:AXP) had its price objective raised by equities research analysts at Morgan Stanley from $108.00 to $109.00 in a research report issued to clients and investors on Friday. The brokerage currently has an “equal weight” rating on the payment services company’s stock. Morgan Stanley’s target price would suggest a potential upside of 12.74% from the stock’s current price.
A number of other research firms also recently issued reports on AXP. Zacks Investment Research downgraded shares of American Express from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. JPMorgan Chase & Co. downgraded shares of American Express from an “overweight” rating to a “neutral” rating and set a $90.00 target price for the company. in a research report on Friday, January 12th. Sandler O’Neill restated a “buy” rating on shares of American Express in a research report on Wednesday, January 17th. Barclays set a $119.00 target price on shares of American Express and gave the company an “equal weight” rating in a research report on Thursday, January 11th. Finally, BMO Capital Markets restated a “hold” rating and set a $103.00 target price on shares of American Express in a research report on Monday, January 8th. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twelve have assigned a buy rating to the stock. American Express has an average rating of “Hold” and a consensus target price of $101.56.
American Express (NYSE:AXP) traded down $3.32 during trading hours on Friday, hitting $96.68. 4,663,278 shares of the stock traded hands, compared to its average volume of 3,460,000. American Express has a 1-year low of $75.51 and a 1-year high of $102.39. The company has a quick ratio of 1.90, a current ratio of 2.37 and a debt-to-equity ratio of 3.11. The firm has a market capitalization of $83,920.00, a P/E ratio of 32.33, a P/E/G ratio of 1.36 and a beta of 1.19.
In other news, insider Ashwini Gupta sold 57,306 shares of the business’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $95.04, for a total transaction of $5,446,362.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider James Peter Bush sold 13,548 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $97.60, for a total transaction of $1,322,284.80. Following the sale, the insider now directly owns 90,052 shares of the company’s stock, valued at approximately $8,789,075.20. The disclosure for this sale can be found here. Insiders sold 318,254 shares of company stock valued at $31,059,302 in the last ninety days. 0.67% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Westside Investment Management Inc. increased its stake in shares of 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 worth $129,000 after purchasing an additional 8 shares in the last quarter. Dearborn Partners LLC increased its stake in shares of American Express by 0.6% during the second quarter. Dearborn Partners LLC now owns 2,861 shares of the payment services company’s stock worth $241,000 after purchasing an additional 18 shares in the last quarter. Advisory Services Network LLC increased its stake in shares of American Express by 0.4% during the second quarter. Advisory Services Network LLC now owns 5,635 shares of the payment services company’s stock worth $475,000 after purchasing an additional 25 shares in the last quarter. Salem Investment Counselors Inc. increased its stake in shares of American Express by 1.5% during the second quarter. Salem Investment Counselors Inc. now owns 2,866 shares of the payment services company’s stock worth $241,000 after purchasing an additional 41 shares in the last quarter. Finally, Whalerock Point Partners LLC increased its stake in shares of American Express by 0.9% during the second quarter. Whalerock Point Partners LLC now owns 4,755 shares of the payment services company’s stock worth $400,000 after purchasing an additional 42 shares in the last quarter. 83.57% of the stock is owned by institutional investors and hedge funds.
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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).
