American Express (NYSE:AXP) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of American Express (NYSE:AXP) from a hold rating to a buy rating in a report issued on Wednesday.

A number of other equities research analysts also recently weighed in on the stock. Compass Point raised their price target on shares of American Express from $315.00 to $325.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. TD Cowen raised their target price on shares of American Express from $260.00 to $268.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Hsbc Global Res cut shares of American Express from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Wells Fargo & Company increased their price target on American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Finally, Monness Crespi & Hardt boosted their price objective on American Express from $300.00 to $330.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $263.68.

American Express Stock Down 0.2 %

Shares of AXP opened at $296.79 on Wednesday. The firm has a 50 day simple moving average of $292.71 and a two-hundred day simple moving average of $265.90. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.63 and a quick ratio of 1.63. American Express has a one year low of $177.81 and a one year high of $307.82. The company has a market cap of $209.07 billion, a P/E ratio of 21.84, a P/E/G ratio of 1.73 and a beta of 1.23.

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

American Express Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Friday, January 3rd will be given a dividend of $0.70 per share. The ex-dividend date is Friday, January 3rd. This represents a $2.80 dividend on an annualized basis and a yield of 0.94%. American Express’s dividend payout ratio (DPR) is currently 20.60%.

Insiders Place Their Bets

In other news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the firm’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 completion of the sale, the insider now directly owns 109,691 shares in the company, valued at $29,724,067.18. This trade represents a 10.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Anre D. Williams sold 77,887 shares of the stock in a transaction that occurred on 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 owns 111,656 shares in the company, valued at approximately $30,176,150.56. The trade was a 41.09 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 96,998 shares of company stock worth $26,423,439. Company insiders own 0.12% of the company’s stock.

Hedge Funds Weigh In On American Express

Institutional investors have recently modified their holdings of the company. Prospera Private Wealth LLC acquired a new stake in shares of American Express in the 3rd quarter worth about $27,000. Kennebec Savings Bank purchased a new position in shares of American Express during the third quarter valued at approximately $29,000. True Wealth Design LLC boosted its position in shares of American Express by 332.0% during the third 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. Itau Unibanco Holding S.A. bought a new stake in American Express during the third quarter worth $38,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new stake in American Express in the 3rd quarter valued at $46,000. 84.33% of the stock is 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.