American Express (NYSE:AXP)‘s stock had its “buy” rating reissued by Oppenheimer in a research note issued on Thursday. They currently have a $114.00 price target on the payment services company’s stock. Oppenheimer’s price target would indicate a potential upside of 6.81% from the company’s current price. Oppenheimer also issued estimates for American Express’ Q3 2018 earnings at $1.78 EPS, Q4 2018 earnings at $1.76 EPS, FY2018 earnings at $7.25 EPS, Q1 2019 earnings at $1.96 EPS, Q2 2019 earnings at $2.06 EPS, Q3 2019 earnings at $2.04 EPS, Q4 2019 earnings at $2.06 EPS and FY2019 earnings at $8.12 EPS.
AXP has been the topic of a number of other research reports. UBS Group raised shares of American Express from a “hold” rating to a “buy” rating in a research note on Friday, July 20th. DZ Bank raised shares of American Express from a “hold” rating to a “buy” rating in a research note on Friday, July 20th. Stephens raised shares of American Express from an “equal weight” rating to an “overweight” rating and set a $110.50 price objective on the stock in a research note on Monday, September 17th. BMO Capital Markets boosted their price objective on shares of American Express from $103.00 to $106.00 and gave the stock a “market perform” rating in a research note on Thursday, July 19th. Finally, Zacks Investment Research raised shares of American Express from a “hold” rating to a “buy” rating and set a $120.00 price objective on the stock in a research note on Tuesday, October 9th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $111.31.
NYSE AXP opened at $106.73 on Thursday. The firm has a market cap of $88.55 billion, a price-to-earnings ratio of 14.36, a P/E/G ratio of 1.41 and a beta of 1.17. American Express has a fifty-two week low of $87.54 and a fifty-two week high of $111.77. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 2.67.
American Express declared that its board has initiated a stock repurchase plan on Thursday, June 28th that permits the company to repurchase $3.40 billion in outstanding shares. This repurchase authorization permits the payment services company to buy up to 4.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
In related news, insider Marc D. Gordon sold 25,948 shares of the business’s stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $107.83, for a total value of $2,797,972.84. Following the transaction, the insider now owns 33,111 shares in the company, valued at $3,570,359.13. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Stephen J. Squeri sold 12,500 shares of the business’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $99.73, for a total transaction of $1,246,625.00. Following the completion of the transaction, the chief executive officer now owns 191,971 shares in the company, valued at approximately $19,145,267.83. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,448 shares of company stock worth $4,942,168. 0.20% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Abner Herrman & Brock LLC lifted its holdings in American Express by 16.1% in the third quarter. Abner Herrman & Brock LLC now owns 155,897 shares of the payment services company’s stock valued at $16,602,000 after buying an additional 21,624 shares during the period. Reilly Financial Advisors LLC raised its holdings in shares of American Express by 216.0% during the third quarter. Reilly Financial Advisors LLC now owns 2,051 shares of the payment services company’s stock valued at $218,000 after purchasing an additional 1,402 shares during the period. Polaris Greystone Financial Group LLC acquired a new position in shares of American Express during the third quarter valued at about $27,409,000. TIAA FSB raised its holdings in shares of American Express by 9.2% during the third quarter. TIAA FSB now owns 44,144 shares of the payment services company’s stock valued at $4,700,000 after purchasing an additional 3,727 shares during the period. Finally, Oakbrook Investments LLC raised its holdings in shares of American Express by 1.3% during the third quarter. Oakbrook Investments LLC now owns 49,730 shares of the payment services company’s stock valued at $5,296,000 after purchasing an additional 650 shares during the period. Institutional investors and hedge funds own 82.92% 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 four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.
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