Citigroup Begins Coverage on American Express (NYSE:AXP)

Citigroup assumed coverage on shares of American Express (NYSE:AXP) in a report issued on Monday, MarketBeat.com reports. The firm issued a neutral rating and a $250.00 price target on the payment services company’s stock.

Several other equities analysts have also recently issued reports on the company. TD Cowen lifted their price target on American Express from $221.00 to $225.00 and gave the company a hold rating in a research report on Monday, April 22nd. BMO Capital Markets raised their price objective on American Express from $167.00 to $175.00 and gave the stock an underperform rating in a research note on Monday, April 22nd. JPMorgan Chase & Co. lifted their target price on shares of American Express from $214.00 to $240.00 and gave the stock an overweight rating in a research report on Wednesday, April 3rd. William Blair reiterated an outperform rating on shares of American Express in a report on Monday, June 3rd. Finally, Robert W. Baird lifted their target price on American Express from $190.00 to $205.00 and gave the company an underperform rating in a research note on Wednesday, May 1st. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average price target of $220.30.

Read Our Latest Analysis on AXP

American Express Price Performance

Shares of NYSE AXP opened at $223.94 on Monday. The stock has a market cap of $161.08 billion, a P/E ratio of 18.45, a P/E/G ratio of 1.32 and a beta of 1.22. The firm’s 50-day simple moving average is $232.61 and its 200 day simple moving average is $211.09. American Express has a fifty-two week low of $140.91 and a fifty-two week high of $244.41. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.70.

American Express (NYSE:AXPGet Free Report) last released its quarterly earnings results on Friday, April 19th. The payment services company reported $3.33 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.36. The company had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $15.79 billion. American Express had a net margin of 14.50% and a return on equity of 32.46%. American Express’s revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.40 EPS. Equities analysts expect that American Express will post 13.01 EPS for the current year.

American Express Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.25%. The ex-dividend date is Friday, July 5th. This is an increase from American Express’s previous quarterly dividend of $0.10. American Express’s dividend payout ratio (DPR) is 23.06%.

Insider Activity

In related news, insider Anna Marrs sold 3,592 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $230.93, for a total transaction of $829,500.56. Following the completion of the sale, the insider now owns 19,932 shares in the company, valued at approximately $4,602,896.76. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other American Express news, insider Anna Marrs sold 3,592 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $230.93, for a total value of $829,500.56. Following the completion of the transaction, the insider now owns 19,932 shares of the company’s stock, valued at approximately $4,602,896.76. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 117,309 shares of American Express stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $232.44, for a total value of $27,267,303.96. Following the sale, the insider now directly owns 110,318 shares in the company, valued at approximately $25,642,315.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 177,717 shares of company stock valued at $41,680,999. 0.11% of the stock is owned by insiders.

Hedge Funds Weigh In On American Express

Hedge funds and other institutional investors have recently made changes to their positions in the business. Venture Visionary Partners LLC boosted its holdings in American Express by 0.3% during the fourth quarter. Venture Visionary Partners LLC now owns 23,211 shares of the payment services company’s stock valued at $4,349,000 after purchasing an additional 65 shares in the last quarter. Global Wealth Management Investment Advisory Inc. grew its position in American Express by 5.5% in the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 11,587 shares of the payment services company’s stock valued at $2,171,000 after acquiring an additional 609 shares during the period. Cerity Partners LLC raised its stake in American Express by 417.3% during the fourth quarter. Cerity Partners LLC now owns 415,696 shares of the payment services company’s stock worth $77,876,000 after acquiring an additional 335,338 shares in the last quarter. Cullen Investment Group LTD. bought a new position in shares of American Express during the fourth quarter valued at $2,460,000. Finally, J.W. Cole Advisors Inc. boosted its stake in shares of American Express by 35.6% in the 4th quarter. J.W. Cole Advisors Inc. now owns 9,806 shares of the payment services company’s stock valued at $1,837,000 after purchasing an additional 2,572 shares in the last quarter. 84.33% of the stock is owned by institutional investors.

American Express Company Profile

(Get Free Report)

American Express Company, together with its subsidiaries, operates as integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and Internationally. It operates through four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.

See Also

Analyst Recommendations for American Express (NYSE:AXP)

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