Analysts’ Weekly Ratings Updates for American Express (AXP)

American Express (NYSE: AXP) recently received a number of ratings updates from brokerages and research firms:

• 4/15/2024 – American Express was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 4/11/2024 – American Express had its price target raised by analysts at HSBC Holdings plc from $232.00 to $239.00. They now have a “buy” rating on the stock.
• 4/10/2024 – American Express had its price target raised by analysts at Wells Fargo & Company from $220.00 to $250.00. They now have an “overweight” rating on the stock.
• 4/9/2024 – American Express had its “equal weight” rating reaffirmed by analysts at Barclays PLC. They now have a $221.00 price target on the stock, up previously from $220.00.
• 4/5/2024 – American Express had its “outperform” rating reaffirmed by analysts at Oppenheimer Holdings Inc..
• 4/5/2024 – American Express was upgraded by analysts at Monness Crespi & Hardt from a “neutral” rating to a “buy” rating. They now have a $245.00 price target on the stock.
• 4/4/2024 – American Express was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 4/3/2024 – American Express had its price target raised by analysts at JPMorgan Chase & Co. from $214.00 to $240.00. They now have an “overweight” rating on the stock.
• 3/28/2024 – American Express had its price target raised by analysts at Evercore ISI from $229.00 to $243.00. They now have an “in-line” rating on the stock.
• 3/27/2024 – American Express was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 3/19/2024 – American Express was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 3/11/2024 – American Express was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.

American Express Trading Up 5.4 %

American Express stock traded up $11.73 during trading hours on Friday, hitting $229.23. The company had a trading volume of 5,297,728 shares, compared to its average volume of 3,103,517. The firm has a market cap of $165.93 billion, a P/E ratio of 20.45, a P/E/G ratio of 1.25 and a beta of 1.23. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.63 and a current ratio of 1.63. American Express has a 1 year low of $140.91 and a 1 year high of $231.69. The company has a 50-day moving average price of $219.68 and a two-hundred day moving average price of $187.79.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, April 19th. The payment services company reported $3.33 earnings per share for the quarter, topping the consensus estimate of $3.01 by $0.32. American Express had a net margin of 13.84% and a return on equity of 30.99%. The firm had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $15.79 billion. During the same quarter in the prior year, the company earned $2.40 EPS. The company’s revenue was up 10.6% compared to the same quarter last year. On average, sell-side analysts anticipate that American Express will post 12.83 earnings per share for the current year.

American Express Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 5th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, April 4th. This represents a $0.40 dividend on an annualized basis and a yield of 0.17%. American Express’s payout ratio is 24.98%.

Insider Buying and Selling at American Express

In other American Express news, insider Howard Grosfield sold 7,029 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $203.65, for a total transaction of $1,431,455.85. Following the transaction, the insider now owns 12,388 shares in the company, valued at approximately $2,522,816.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Howard Grosfield sold 7,029 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $203.65, for a total value of $1,431,455.85. Following the sale, the insider now owns 12,388 shares in the company, valued at $2,522,816.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Laureen Seeger sold 84,420 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $212.98, for a total transaction of $17,979,771.60. Following the completion of the sale, the insider now owns 57,512 shares in the company, valued at approximately $12,248,905.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 172,047 shares of company stock worth $36,528,388. 0.12% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On American Express

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Moneta Group Investment Advisors LLC lifted its stake in shares of American Express by 118,198.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 13,732,068 shares of the payment services company’s stock worth $2,028,913,000 after buying an additional 13,720,460 shares in the last quarter. Morgan Stanley lifted its stake in shares of American Express by 0.3% in the fourth quarter. Morgan Stanley now owns 12,503,902 shares of the payment services company’s stock worth $1,847,452,000 after buying an additional 35,760 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of American Express by 6.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,785,059 shares of the payment services company’s stock worth $1,458,454,000 after buying an additional 448,060 shares in the last quarter. Nuveen Asset Management LLC lifted its stake in shares of American Express by 4.0% in the fourth quarter. Nuveen Asset Management LLC now owns 6,983,750 shares of the payment services company’s stock worth $1,308,336,000 after buying an additional 270,173 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of American Express by 0.6% in the third quarter. Northern Trust Corp now owns 6,953,460 shares of the payment services company’s stock worth $1,037,387,000 after buying an additional 41,443 shares in the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

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.