American Express Co. (AXP) Downgraded by Vetr Inc. to “Strong Sell”

Vetr lowered shares of American Express Co. (NYSE:AXP) from a sell rating to a strong sell rating in a research report report published on Tuesday. The firm currently has $64.38 price target on the payment services company’s stock.

A number of other research analysts also recently issued reports on the stock. JPMorgan Chase & Co. reissued a neutral rating on shares of American Express in a research report on Saturday, October 22nd. Credit Suisse Group AG reissued a sell rating and set a $62.00 price objective on shares of American Express in a research report on Friday, September 16th. Keefe, Bruyette & Woods reissued a market perform rating and set a $74.00 price objective on shares of American Express in a research report on Monday, September 12th. Piper Jaffray Cos. reissued a hold rating and set a $71.00 price objective on shares of American Express in a research report on Wednesday, September 7th. Finally, Zacks Investment Research downgraded shares of American Express from a buy rating to a hold rating in a research report on Friday, November 11th. Eight investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $67.37.

Shares of American Express (NYSE:AXP) opened at 71.00 on Tuesday. The stock has a 50 day moving average of $64.58 and a 200 day moving average of $64.20. American Express has a one year low of $50.27 and a one year high of $73.35. The stock has a market cap of $64.98 billion, a P/E ratio of 12.62 and a beta of 1.19.

American Express (NYSE:AXP) last issued its earnings results on Wednesday, October 19th. The payment services company reported $1.24 EPS for the quarter, topping the consensus estimate of $0.96 by $0.28. American Express had a net margin of 16.67% and a return on equity of 27.84%. The company had revenue of $7.80 billion for the quarter, compared to the consensus estimate of $7.70 billion. During the same period in the previous year, the firm earned $1.24 earnings per share. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. On average, analysts forecast that American Express will post $5.73 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Friday, October 7th were issued a dividend of $0.32 per share. This is a positive change from American Express’s previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend was Wednesday, October 5th. American Express’s dividend payout ratio (DPR) is 22.70%.

In other news, insider Susan Sobbott sold 19,186 shares of the stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $70.45, for a total transaction of $1,351,653.70. Following the completion of the transaction, the insider now directly owns 56,870 shares in the company, valued at approximately $4,006,491.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ashwini Gupta sold 146,030 shares of the stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $72.28, for a total value of $10,555,048.40. Following the transaction, the insider now owns 298,910 shares of the company’s stock, valued at $21,605,214.80. The disclosure for this sale can be found here. Company insiders own 0.78% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of AXP. Adage Capital Partners GP L.L.C. increased its position in American Express by 421.4% in the first quarter. Adage Capital Partners GP L.L.C. now owns 545,900 shares of the payment services company’s stock worth $33,518,000 after buying an additional 441,200 shares in the last quarter. Clark Capital Management Group Inc. increased its position in American Express by 3.8% in the first quarter. Clark Capital Management Group Inc. now owns 8,398 shares of the payment services company’s stock worth $516,000 after buying an additional 308 shares in the last quarter. Chilton Capital Management LLC increased its position in American Express by 48.9% in the first quarter. Chilton Capital Management LLC now owns 108,369 shares of the payment services company’s stock worth $6,654,000 after buying an additional 35,602 shares in the last quarter. Babson Capital Management LLC increased its position in American Express by 236.2% in the first quarter. Babson Capital Management LLC now owns 72,737 shares of the payment services company’s stock worth $4,466,000 after buying an additional 51,100 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. increased its position in American Express by 22.1% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 51,342 shares of the payment services company’s stock worth $3,152,000 after buying an additional 9,286 shares in the last quarter. Hedge funds and other institutional investors own 82.99% of the company’s stock.

About American Express

American Express Company is a services company. The Company’s principal products and services are charge and credit payment card products, and travel-related services offered to consumers and businesses around the world. The Company’s segments include U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).

5 Day Chart for NYSE:AXP

To view Vetr’s full report, visit Vetr’s official website.

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