ValuEngine Downgrades American Express (AXP) to Hold

American Express (NYSE:AXP) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Friday.

Several other brokerages also recently commented on AXP. Zacks Investment Research downgraded shares of American Express from a “buy” rating to a “hold” rating in a report on Wednesday, August 30th. Morgan Stanley dropped their target price on shares of American Express from $90.00 to $89.00 and set an “equal weight” rating on the stock in a report on Friday, September 8th. Credit Suisse Group reiterated an “underperform” rating and issued a $84.00 price objective (up from $79.00) on shares of American Express in a report on Thursday, October 19th. Keefe, Bruyette & Woods set a $95.00 price objective on shares of American Express and gave the company a “buy” rating in a report on Saturday, August 19th. Finally, Oppenheimer set a $99.00 price objective on shares of American Express and gave the company a “buy” rating in a report on Thursday, October 19th. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $91.56.

Shares of American Express (NYSE AXP) traded up $0.15 during mid-day trading on Friday, reaching $97.86. 3,442,381 shares of the company’s stock traded hands, compared to its average volume of 2,794,731. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 2.31. The firm has a market cap of $84,942.09, a P/E ratio of 18.75, a P/E/G ratio of 1.63 and a beta of 1.22. American Express has a 52-week low of $71.43 and a 52-week high of $98.49.

American Express (NYSE:AXP) last announced its earnings results on Wednesday, October 18th. The payment services company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.47 by $0.03. The firm had revenue of $8.44 billion for the quarter, compared to the consensus estimate of $8.31 billion. American Express had a net margin of 14.48% and a return on equity of 22.73%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period last year, the company posted $1.24 EPS. sell-side analysts forecast that American Express will post 5.86 earnings per share for the current year.

In related news, insider Susan Sobbott sold 6,000 shares of the business’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $84.39, for a total transaction of $506,340.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Anre D. Williams sold 30,761 shares of the business’s stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $93.41, for a total transaction of $2,873,385.01. Following the transaction, the insider now owns 28,720 shares in the company, valued at $2,682,735.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 203,651 shares of company stock worth $19,162,465. 0.67% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of AXP. Vanguard Group Inc. boosted its position in American Express by 1.5% during the second quarter. Vanguard Group Inc. now owns 50,233,957 shares of the payment services company’s stock worth $4,231,710,000 after purchasing an additional 731,428 shares during the period. BlackRock Inc. boosted its position in American Express by 1.1% during the second quarter. BlackRock Inc. now owns 44,685,897 shares of the payment services company’s stock worth $3,764,339,000 after purchasing an additional 508,030 shares during the period. State Street Corp boosted its position in American Express by 1.8% during the first quarter. State Street Corp now owns 40,399,620 shares of the payment services company’s stock worth $3,196,011,000 after purchasing an additional 731,315 shares during the period. Wellington Management Group LLP boosted its position in American Express by 21.7% during the first quarter. Wellington Management Group LLP now owns 17,198,787 shares of the payment services company’s stock worth $1,360,596,000 after purchasing an additional 3,071,573 shares during the period. Finally, First Eagle Investment Management LLC boosted its position in American Express by 0.6% during the second quarter. First Eagle Investment Management LLC now owns 16,342,822 shares of the payment services company’s stock worth $1,376,719,000 after purchasing an additional 103,546 shares during the period. Institutional investors and hedge funds own 83.35% of the company’s stock.

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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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