Robert W. Baird assumed coverage on shares of American Express (NYSE:AXP) in a report issued on Wednesday, Benzinga reports. The brokerage issued a neutral rating and a $124.00 price objective on the payment services company’s stock.
A number of other equities research analysts also recently commented on the company. Oppenheimer set a $126.00 price objective on American Express and gave the company a buy rating in a report on Monday, October 21st. William Blair reiterated an outperform rating on shares of American Express in a report on Tuesday, December 10th. BMO Capital Markets upped their price objective on American Express from $119.00 to $123.00 and gave the company a market perform rating in a report on Monday, October 21st. Morgan Stanley upped their price objective on American Express from $142.00 to $149.00 and gave the company an overweight rating in a report on Tuesday, October 29th. Finally, Cfra reiterated a hold rating on shares of American Express in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. The stock has an average rating of Hold and an average price target of $126.31.
NYSE AXP traded up $2.27 on Wednesday, reaching $127.81. The company had a trading volume of 2,782,694 shares, compared to its average volume of 2,656,882. The stock’s 50 day moving average is $122.48 and its 200-day moving average is $121.49. The stock has a market cap of $100.98 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 1.30 and a beta of 1.05. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 2.54. American Express has a 52 week low of $96.37 and a 52 week high of $129.34.
The firm also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Friday, January 3rd will be issued a $0.43 dividend. This is an increase from American Express’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Thursday, January 2nd. American Express’s dividend payout ratio is 23.47%.
In other American Express news, insider Denise Pickett sold 2,400 shares of the stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $118.39, for a total value of $284,136.00. Following the completion of the sale, the insider now directly owns 9,788 shares in the company, valued at $1,158,801.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Stephen J. Squeri sold 15,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $117.96, for a total value of $1,769,400.00. Following the completion of the sale, the chief executive officer now owns 184,090 shares of the company’s stock, valued at $21,715,256.40. The disclosure for this sale can be found here. Insiders sold 25,820 shares of company stock valued at $3,033,961 over the last 90 days. Corporate insiders own 0.21% of the company’s stock.
Several institutional investors have recently made changes to their positions in the business. Garrett Wealth Advisory Group LLC bought a new position in shares of American Express during the third quarter worth about $27,000. Winthrop Partners WNY LLC bought a new position in shares of American Express during the third quarter worth about $30,000. FNY Investment Advisers LLC bought a new position in shares of American Express during the third quarter worth about $35,000. Enterprise Trust & Investment Co bought a new position in shares of American Express during the third quarter worth about $38,000. Finally, Candriam Luxembourg S.C.A. grew its holdings in shares of American Express by 12.9% during the third quarter. Candriam Luxembourg S.C.A. now owns 332,102 shares of the payment services company’s stock worth $40,000 after buying an additional 38,031 shares in the last quarter. Institutional investors own 84.13% of the company’s stock.
American Express Company Profile
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services to consumers and businesses worldwide. It operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.
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