American Express (AXP) Earns Buy Rating from Sandler O’Neill
American Express (NYSE:AXP)‘s stock had its “buy” rating restated by equities research analysts at Sandler O’Neill in a report issued on Wednesday.
A number of other research analysts also recently weighed in on the company. JPMorgan Chase & Co. downgraded American Express from an “overweight” rating to a “neutral” rating and set a $90.00 target price on the stock. in a report on Friday, January 12th. Barclays set a $119.00 target price on American Express and gave the company an “equal weight” rating in a report on Thursday, January 11th. Zacks Investment Research raised American Express from a “hold” rating to a “buy” rating and set a $113.00 target price on the stock in a report on Thursday, January 11th. Wells Fargo & Co reissued an “outperform” rating and issued a $115.00 target price (up previously from $105.00) on shares of American Express in a report on Tuesday, January 9th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $103.00 target price on shares of American Express in a report on Monday, January 8th. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $98.96.
American Express (AXP) opened at $100.34 on Wednesday. The stock has a market capitalization of $87,090.00, a price-to-earnings ratio of 19.37, a PEG ratio of 1.46 and a beta of 1.22. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 2.31. American Express has a 1-year low of $75.39 and a 1-year high of $102.39.
In related news, EVP Linda Zukauckas sold 3,196 shares of the stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $95.42, for a total transaction of $304,962.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anre D. Williams sold 30,761 shares of the stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $93.41, for a total value of $2,873,385.01. Following the sale, the insider now owns 28,720 shares of the company’s stock, valued at approximately $2,682,735.20. The disclosure for this sale can be found here. Insiders sold 442,869 shares of company stock worth $42,823,869 in the last ninety days. Corporate insiders own 0.67% of the company’s stock.
Several large investors have recently added to or reduced their stakes in AXP. Gateway Investment Advisers LLC grew its position in shares of American Express by 8.6% during the second quarter. Gateway Investment Advisers LLC now owns 556,421 shares of the payment services company’s stock worth $46,873,000 after purchasing an additional 43,877 shares in the last quarter. Narwhal Capital Management grew its position in shares of American Express by 30.5% during the second quarter. Narwhal Capital Management now owns 37,950 shares of the payment services company’s stock worth $3,197,000 after purchasing an additional 8,860 shares in the last quarter. Pennsylvania Trust Co grew its position in shares of American Express by 60.9% during the second quarter. Pennsylvania Trust Co now owns 89,578 shares of the payment services company’s stock worth $7,553,000 after purchasing an additional 33,910 shares in the last quarter. NN Investment Partners Holdings N.V. grew its position in shares of American Express by 3.9% during the second quarter. NN Investment Partners Holdings N.V. now owns 74,447 shares of the payment services company’s stock worth $6,272,000 after purchasing an additional 2,777 shares in the last quarter. Finally, Bank of The West purchased a new stake in shares of American Express during the second quarter worth about $279,000. Hedge funds and other 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).
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