American Express (NYSE:AXP) Downgraded by ValuEngine

American Express (NYSE:AXP) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, ValuEngine reports.

Other analysts also recently issued research reports about the company. BMO Capital Markets lifted their target price on American Express from $119.00 to $123.00 and gave the company a “market perform” rating in a research report on Monday, October 21st. Morgan Stanley lifted their target price on American Express from $142.00 to $149.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Oppenheimer set a $126.00 target price on American Express and gave the company a “buy” rating in a research report on Monday, October 21st. Wells Fargo & Co set a $140.00 target price on American Express and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, Cfra reaffirmed a “hold” rating on shares of American Express in a research report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $125.89.

Shares of AXP traded up $1.37 during midday trading on Wednesday, hitting $117.94. The stock had a trading volume of 2,444,140 shares, compared to its average volume of 3,297,281. The company has a 50 day simple moving average of $119.07 and a two-hundred day simple moving average of $120.78. American Express has a twelve month low of $89.05 and a twelve month high of $129.34. The firm has a market cap of $98.29 billion, a price-to-earnings ratio of 16.09, a price-to-earnings-growth ratio of 1.40 and a beta of 1.05. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.86 and a quick ratio of 1.86.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, October 18th. The payment services company reported $2.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.07 by $0.01. The firm had revenue of $10.99 billion for the quarter, compared to the consensus estimate of $10.94 billion. American Express had a return on equity of 29.68% and a net margin of 16.51%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the business posted $1.88 EPS. Analysts forecast that American Express will post 8.15 EPS for the current fiscal year.

In other American Express news, insider Denise Pickett sold 2,400 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $118.39, for a total transaction of $284,136.00. Following the transaction, the insider now owns 9,788 shares of the company’s stock, valued at $1,158,801.32. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Theodore Leonsis sold 8,420 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $116.44, for a total value of $980,424.80. Following the transaction, the director now directly owns 11,580 shares in the company, valued at approximately $1,348,375.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,820 shares of company stock worth $3,033,961. Company insiders own 0.21% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in AXP. Magellan Asset Management Ltd boosted its holdings in shares of American Express by 212,845.6% during the second quarter. Magellan Asset Management Ltd now owns 9,580,424 shares of the payment services company’s stock worth $1,182,608,000 after acquiring an additional 9,575,925 shares during the period. Nuveen Asset Management LLC boosted its holdings in shares of American Express by 1,759.0% during the second quarter. Nuveen Asset Management LLC now owns 6,961,641 shares of the payment services company’s stock worth $859,345,000 after acquiring an additional 6,587,148 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of American Express by 19.8% during the third quarter. Fisher Asset Management LLC now owns 13,605,412 shares of the payment services company’s stock worth $1,609,248,000 after acquiring an additional 2,252,720 shares during the period. Morgan Stanley boosted its holdings in shares of American Express by 16.2% during the second quarter. Morgan Stanley now owns 5,253,506 shares of the payment services company’s stock worth $648,492,000 after acquiring an additional 731,450 shares during the period. Finally, Waverton Investment Management Ltd boosted its holdings in shares of American Express by 814.6% during the third quarter. Waverton Investment Management Ltd now owns 606,278 shares of the payment services company’s stock worth $71,711,000 after acquiring an additional 539,986 shares during the period. 83.91% of the stock is currently owned by hedge funds and other institutional investors.

About American Express

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services to consumers and businesses worldwide. It operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.

Further Reading: What sectors are represented in the Nikkei Index?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for American Express (NYSE:AXP)

Receive News & Ratings for American Express Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Express and related companies with MarketBeat.com's FREE daily email newsletter.