American Express’ (AXP) Outperform Rating Reiterated at Wells Fargo & Co

American Express (NYSE:AXP)‘s stock had its “outperform” rating reissued by stock analysts at Wells Fargo & Co in a note issued to investors on Tuesday, The Fly reports. They presently have a $115.00 price objective on the payment services company’s stock, up from their previous price objective of $105.00. Wells Fargo & Co’s target price points to a potential upside of 14.83% from the stock’s current price.

AXP has been the subject of a number of other research reports. Credit Suisse Group restated an “underperform” rating and issued a $84.00 price target (up previously from $79.00) on shares of American Express in a research note on Thursday, October 19th. ValuEngine lowered shares of American Express from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Bank of America reiterated a “buy” rating and set a $102.00 target price on shares of American Express in a research note on Monday, October 9th. Morgan Stanley boosted their target price on shares of American Express from $89.00 to $97.00 and gave the company an “equal weight” rating in a research note on Thursday, October 19th. Finally, Buckingham Research assumed coverage on shares of American Express in a research note on Monday, October 2nd. They set a “neutral” rating and a $92.00 target price for the company. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $97.84.

Shares of American Express (AXP) opened at $100.15 on Tuesday. 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 stock has a market cap of $86,930.00, a price-to-earnings ratio of 19.33, a P/E/G ratio of 1.49 and a beta of 1.22. American Express has a 12 month low of $75.39 and a 12 month high of $101.65.

American Express (NYSE:AXP) last issued its quarterly earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.03. The business had revenue of $8.44 billion during the quarter, compared to analyst estimates of $8.31 billion. American Express had a net margin of 14.48% and a return on equity of 22.73%. The business’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.24 earnings per share. analysts expect that American Express will post 5.86 EPS for the current year.

In other news, insider Anre D. Williams sold 30,761 shares of the company’s stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $93.41, for a total value of $2,873,385.01. Following the transaction, the insider now owns 28,720 shares in the company, valued at approximately $2,682,735.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Susan Sobbott sold 5,500 shares of the company’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $94.34, for a total value of $518,870.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 442,869 shares of company stock worth $42,823,869. 0.67% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of AXP. Indiana Trust & Investment Management CO boosted its position in American Express by 4.8% during the second quarter. Indiana Trust & Investment Management CO now owns 7,003 shares of the payment services company’s stock worth $590,000 after purchasing an additional 323 shares during the period. DnB Asset Management AS boosted its position in American Express by 0.7% during the second quarter. DnB Asset Management AS now owns 83,964 shares of the payment services company’s stock worth $7,073,000 after purchasing an additional 600 shares during the period. Independent Portfolio Consultants Inc. boosted its position in American Express by 3.9% during the second quarter. Independent Portfolio Consultants Inc. now owns 10,526 shares of the payment services company’s stock worth $887,000 after purchasing an additional 392 shares during the period. Pioneer Trust Bank N A OR boosted its position in American Express by 11.1% during the second quarter. Pioneer Trust Bank N A OR now owns 13,365 shares of the payment services company’s stock worth $1,125,000 after purchasing an additional 1,330 shares during the period. Finally, Handelsbanken Fonder AB boosted its position in American Express by 30.4% during the second quarter. Handelsbanken Fonder AB now owns 150,000 shares of the payment services company’s stock worth $12,636,000 after purchasing an additional 35,000 shares during the period. Institutional investors 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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