American Express Company (NYSE:AXP) Given Hold Rating at Jefferies Group LLC

Jefferies Group LLC restated their hold rating on shares of American Express Company (NYSE:AXP) in a research report report published on Saturday, July 22nd. The firm currently has a $85.00 price objective on the payment services company’s stock. Jefferies Group also issued estimates for American Express’ Q3 2017 earnings at $1.46 EPS, Q4 2017 earnings at $1.33 EPS, Q1 2018 earnings at $1.62 EPS, Q2 2018 earnings at $1.56 EPS, Q3 2018 earnings at $1.73 EPS and Q4 2018 earnings at $1.49 EPS.

Several other brokerages have also recently issued reports on AXP. Credit Suisse Group reaffirmed a sell rating on shares of American Express in a report on Wednesday, July 19th. Barclays PLC reissued a buy rating and set a $83.00 price objective on shares of American Express in a research note on Thursday, July 20th. Goldman Sachs Group, Inc. (The) reissued a neutral rating and set a $94.00 price objective (up from $87.00) on shares of American Express in a research note on Saturday, July 22nd. Guggenheim reissued a buy rating and set a $95.00 price objective (up from $90.00) on shares of American Express in a research note on Saturday, July 22nd. Finally, William Blair reissued an outperform rating on shares of American Express in a research note on Tuesday, July 18th. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating and thirteen have issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $84.77.

Shares of American Express (NYSE:AXP) traded down 0.82% during trading on Friday, reaching $85.38. The company’s stock had a trading volume of 4,271,186 shares. The company has a market cap of $75.47 billion, a PE ratio of 17.51 and a beta of 1.18. The company has a 50 day moving average of $85.23 and a 200 day moving average of $80.55. American Express has a 12-month low of $59.50 and a 12-month high of $87.78.

American Express (NYSE:AXP) last issued its earnings results on Wednesday, July 19th. The payment services company reported $1.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.03. American Express had a return on equity of 21.90% and a net margin of 14.11%. The firm had revenue of $8.31 billion for the quarter, compared to analysts’ expectations of $8.20 billion. During the same period in the previous year, the firm posted $2.10 earnings per share. The business’s revenue was up .9% compared to the same quarter last year. On average, analysts anticipate that American Express will post $5.74 EPS for the current fiscal year.

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American Express declared that its Board of Directors has initiated a share repurchase program on Wednesday, June 28th that allows the company to buyback $4.40 billion in outstanding shares. This buyback authorization allows the payment services company to repurchase up to 5.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

In other news, Vice Chairman Stephen J. Squeri sold 94,792 shares of the company’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $85.41, for a total transaction of $8,096,184.72. Following the transaction, the insider now directly owns 261,665 shares of the company’s stock, valued at $22,348,807.65. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Marc D. Gordon sold 4,900 shares of the company’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $76.98, for a total value of $377,202.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 948,287 shares of company stock worth $80,321,961. Insiders own 0.67% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. MCF Advisors LLC increased its position in American Express by 0.3% in the second quarter. MCF Advisors LLC now owns 1,286 shares of the payment services company’s stock valued at $108,000 after buying an additional 4 shares during the last quarter. Appleton Partners Inc. MA increased its position in American Express by 0.3% in the second quarter. Appleton Partners Inc. MA now owns 2,658 shares of the payment services company’s stock valued at $224,000 after buying an additional 8 shares during the last quarter. Westside Investment Management Inc. increased its position in American Express by 0.5% in the second quarter. Westside Investment Management Inc. now owns 1,536 shares of the payment services company’s stock valued at $129,000 after buying an additional 8 shares during the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position in American Express by 0.4% in the first quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,641 shares of the payment services company’s stock valued at $209,000 after buying an additional 10 shares during the last quarter. Finally, Bath Savings Trust Co increased its position in American Express by 0.3% in the second quarter. Bath Savings Trust Co now owns 4,388 shares of the payment services company’s stock valued at $369,000 after buying an additional 14 shares during the last quarter. 83.86% of the stock is currently owned by hedge funds and other institutional investors.

American Express Company Profile

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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