American Express (AXP) Given a $119.00 Price Target by Barclays Analysts

Barclays set a $119.00 price target on American Express (NYSE:AXP) in a report released on Thursday, MarketBeat reports. The brokerage currently has an equal weight rating on the payment services company’s stock.

Several other analysts have also commented on AXP. BMO Capital Markets reaffirmed a hold rating and issued a $103.00 price objective on shares of American Express in a report on Monday, January 8th. Zacks Investment Research lowered American Express from a buy rating to a hold rating in a report on Wednesday, January 10th. Instinet began coverage on American Express in a report on Wednesday, January 3rd. They issued a buy rating and a $110.00 price objective for the company. Wells Fargo & Co reaffirmed an outperform rating and issued a $115.00 price objective (up previously from $105.00) on shares of American Express in a report on Tuesday, January 9th. Finally, Stephens set a $89.00 price objective on American Express and gave the stock a hold rating in a report on Thursday, October 19th. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $98.96.

Shares of American Express (NYSE AXP) opened at $100.97 on Thursday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 2.31. American Express has a fifty-two week low of $75.39 and a fifty-two week high of $101.65. The company has a market capitalization of $87,641.58, a price-to-earnings ratio of 19.45, a P/E/G ratio of 1.46 and a beta of 1.22.

American Express (NYSE:AXP) last issued its quarterly earnings data on Wednesday, October 18th. The payment services company reported $1.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.03. American Express had a return on equity of 22.73% and a net margin of 14.48%. The company had revenue of $8.44 billion during the quarter, compared to analyst estimates of $8.31 billion. During the same quarter in the previous year, the company posted $1.24 earnings per share. American Express’s revenue was up 8.5% compared to the same quarter last year. analysts forecast that American Express will post 5.85 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 5th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend is Thursday, January 4th. American Express’s dividend payout ratio (DPR) is 26.97%.

In related news, CEO Kenneth I. Chenault sold 96,440 shares of the business’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $97.30, for a total value of $9,383,612.00. Following the sale, the chief executive officer now directly owns 1,178,333 shares in the company, valued at $114,651,800.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider James Peter Bush sold 12,789 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $99.45, for a total value of $1,271,866.05. Following the completion of the sale, the insider now owns 92,504 shares in the company, valued at $9,199,522.80. The disclosure for this sale can be found here. Insiders sold 442,869 shares of company stock worth $42,823,869 over the last quarter. 0.67% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of AXP. Veritas Asset Management LLP lifted its position in shares of American Express by 15.2% in the second quarter. Veritas Asset Management LLP now owns 10,303,201 shares of the payment services company’s stock worth $867,942,000 after buying an additional 1,358,474 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of American Express in the second quarter worth about $101,526,000. Canada Pension Plan Investment Board lifted its position in shares of American Express by 944,765.8% in the second quarter. Canada Pension Plan Investment Board now owns 1,077,147 shares of the payment services company’s stock worth $90,739,000 after buying an additional 1,077,033 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of American Express by 55.9% in the third quarter. Janus Henderson Group PLC now owns 2,675,599 shares of the payment services company’s stock worth $242,003,000 after buying an additional 959,824 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of American Express by 11,602.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 901,100 shares of the payment services company’s stock worth $75,909,000 after buying an additional 893,400 shares in the last quarter. Institutional investors own 83.36% of the company’s stock.

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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).

Analyst Recommendations for American Express (NYSE:AXP)

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