Vetr upgraded shares of American Express Co. (NYSE:AXP) from a strong sell rating to a sell rating in a research report report published on Tuesday. Vetr currently has $57.00 target price on the payment services company’s stock.
AXP has been the topic of several other reports. Credit Suisse Group AG restated a sell rating and set a $62.00 target price on shares of American Express in a research report on Thursday, July 14th. Nomura downgraded shares of American Express from a neutral rating to a reduce rating and reduced their price target for the company from $62.00 to $56.00 in a report on Thursday, October 6th. BMO Capital Markets initiated coverage on shares of American Express in a report on Thursday, July 21st. They issued a hold rating and a $73.00 price target on the stock. DA Davidson reaffirmed a neutral rating and issued a $66.00 price target on shares of American Express in a report on Friday, July 8th. Finally, Evercore ISI reaffirmed a hold rating on shares of American Express in a report on Saturday. Nine analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $68.04.
Shares of American Express (NYSE:AXP) opened at 60.08 on Tuesday. The firm has a market cap of $55.50 billion, a P/E ratio of 10.63 and a beta of 1.24. The company has a 50-day moving average of $63.58 and a 200 day moving average of $63.63. American Express has a 12-month low of $50.27 and a 12-month high of $77.61.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Friday, October 7th will be paid a $0.32 dividend. 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 2.13%. The ex-dividend date is Wednesday, October 5th. American Express’s dividend payout ratio is currently 22.54%.
Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of American Express by 1.1% in the second quarter. Vanguard Group Inc. now owns 47,952,807 shares of the payment services company’s stock worth $2,913,613,000 after buying an additional 504,284 shares in the last quarter. Dodge & Cox raised its position in shares of American Express by 7.2% in the second quarter. Dodge & Cox now owns 28,248,637 shares of the payment services company’s stock worth $1,716,387,000 after buying an additional 1,888,379 shares in the last quarter. Wellington Management Group LLP raised its position in shares of American Express by 103.8% in the first quarter. Wellington Management Group LLP now owns 24,632,717 shares of the payment services company’s stock worth $1,512,449,000 after buying an additional 12,544,274 shares in the last quarter. First Eagle Investment Management LLC raised its position in shares of American Express by 1.1% in the second quarter. First Eagle Investment Management LLC now owns 15,733,904 shares of the payment services company’s stock worth $955,992,000 after buying an additional 173,281 shares in the last quarter. Finally, BlackRock Fund Advisors raised its position in shares of American Express by 0.7% in the second quarter. BlackRock Fund Advisors now owns 9,301,472 shares of the payment services company’s stock worth $565,157,000 after buying an additional 61,459 shares in the last quarter. Institutional investors and hedge funds own 82.03% 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).
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