American Express (NYSE:AXP) Downgraded to “Hold” Rating by StockNews.com

StockNews.com cut shares of American Express (NYSE:AXP) from a buy rating to a hold rating in a research note issued to investors on Monday.

A number of other research analysts have also commented on the stock. Bank of America upped their price target on shares of American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Barclays increased their target price on American Express from $250.00 to $257.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Wells Fargo & Company upped their price objective on American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, September 30th. The Goldman Sachs Group lifted their target price on American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Finally, Evercore ISI upped their price target on shares of American Express from $275.00 to $290.00 and gave the company an “in-line” rating in a research note on Monday, October 7th. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $253.09.

American Express Price Performance

Shares of NYSE AXP opened at $305.37 on Monday. American Express has a twelve month low of $163.32 and a twelve month high of $305.80. The company has a market cap of $215.12 billion, a PE ratio of 22.47, a price-to-earnings-growth ratio of 1.72 and a beta of 1.21. The business’s 50 day moving average price is $276.97 and its two-hundred day moving average price is $253.82. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.80.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $0.22. American Express had a return on equity of 32.46% and a net margin of 15.32%. The business had revenue of $16.64 billion for the quarter, compared to analysts’ expectations of $16.68 billion. During the same quarter in the prior year, the business earned $3.30 EPS. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, analysts predict that American Express will post 13.4 EPS for the current year.

American Express Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, October 4th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 0.92%. The ex-dividend date was Friday, October 4th. American Express’s payout ratio is 20.60%.

Insider Activity

In other American Express news, insider Anre D. Williams sold 77,887 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $270.26, for a total value of $21,049,740.62. Following the completion of the transaction, the insider now directly owns 111,656 shares in the company, valued at approximately $30,176,150.56. This trade represents a 41.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total value of $3,552,818.78. Following the sale, the insider now owns 109,691 shares in the company, valued at approximately $29,724,067.18. This trade represents a 10.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On American Express

Hedge funds have recently added to or reduced their stakes in the business. Prospera Private Wealth LLC acquired a new position in shares of American Express during the third quarter worth $27,000. Kennebec Savings Bank acquired a new position in American Express during the 3rd quarter worth about $29,000. True Wealth Design LLC grew its position in shares of American Express by 332.0% in the 3rd quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock valued at $29,000 after buying an additional 83 shares during the last quarter. DHJJ Financial Advisors Ltd. increased its stake in shares of American Express by 42.2% in the second quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock valued at $38,000 after buying an additional 49 shares during the period. Finally, Itau Unibanco Holding S.A. bought a new position in shares of American Express during the third quarter worth about $38,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

About American Express

American Express Company, together with its subsidiaries, operates as integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and Internationally. It operates through four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.