Shares of American Express Co. (NYSE:AXP) dropped 2% during mid-day trading on Thursday . The stock traded as low as $62.88 and last traded at $63.16, with a volume of 5,707,944 shares. The stock had previously closed at $64.48.

AXP has been the subject of several recent analyst reports. Credit Suisse Group AG reiterated an “underperform” rating and issued a $62.00 target price on shares of American Express in a research note on Friday, March 25th. Sanford C. Bernstein reissued a “buy” rating and issued a $77.00 price target on shares of American Express in a report on Thursday, April 21st. Vetr downgraded shares of American Express from a “buy” rating to a “hold” rating and set a $63.85 price target on the stock. in a report on Wednesday, April 13th. JPMorgan Chase & Co. reissued a “hold” rating on shares of American Express in a report on Thursday, June 30th. Finally, Jefferies Group reissued a “hold” rating and issued a $60.00 price target (up from $58.00) on shares of American Express in a report on Thursday, April 21st. Six analysts have rated the stock with a sell rating, twenty have given a hold rating and nine have given a buy rating to the company’s stock. American Express presently has an average rating of “Hold” and an average target price of $70.40.

The firm’s 50-day moving average is $62.54 and its 200 day moving average is $60.97. The company has a market capitalization of $60.32 billion and a PE ratio of 12.67.

American Express (NYSE:AXP) last announced its quarterly earnings data on Wednesday, July 20th. The payment services company reported $2.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.95 by $0.15. During the same period last year, the company earned $1.42 EPS. The business earned $8.20 billion during the quarter, compared to the consensus estimate of $8.33 billion. The business’s revenue was down .6% compared to the same quarter last year. Analysts anticipate that American Express Co. will post $5.55 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 10th. Shareholders of record on Friday, July 1st will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.83%. The ex-dividend date is Wednesday, June 29th.

In other American Express news, CEO Kenneth I. Chenault sold 838,968 shares of the company’s stock in a transaction on Thursday, May 19th. The stock was sold at an average price of $62.65, for a total value of $52,561,345.20. Following the transaction, the chief executive officer now owns 1,444,572 shares of the company’s stock, valued at approximately $90,502,435.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael John O’neill sold 51,690 shares of the company’s stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $64.95, for a total value of $3,357,265.50. Following the completion of the transaction, the executive vice president now directly owns 46,929 shares in the company, valued at approximately $3,048,038.55. The disclosure for this sale can be found here.

A number of institutional investors have made changes to their positions in the stock. Cacti Asset Management increased its position in shares of American Express by 0.3% in the fourth quarter. Cacti Asset Management now owns 479,947 shares of the payment services company’s stock valued at $33,380,000 after buying an additional 1,500 shares during the period. Park National boosted its stake in shares of American Express by 0.4% in the fourth quarter. Park National now owns 249,121 shares of the payment services company’s stock valued at $17,326,000 after buying an additional 1,096 shares in the last quarter. Mawer Investment Management Ltd. boosted its stake in shares of American Express by 1.0% in the fourth quarter. Mawer Investment Management Ltd. now owns 505,960 shares of the payment services company’s stock valued at $35,190,000 after buying an additional 5,000 shares in the last quarter. Cobblestone Capital Advisors LLC NY boosted its stake in shares of American Express by 82.8% in the fourth quarter. Cobblestone Capital Advisors LLC NY now owns 81,908 shares of the payment services company’s stock valued at $5,697,000 after buying an additional 37,098 shares in the last quarter. Finally, Boys Arnold & Co. Inc. boosted its stake in shares of American Express by 73.5% in the fourth quarter. Boys Arnold & Co. Inc. now owns 106,826 shares of the payment services company’s stock valued at $7,430,000 after buying an additional 45,239 shares in the last quarter.

American Express Company is a services company. The Company’s principal products and services are charge and credit payment card products, and travel-related services offered to consumers and businesses around the world. The Company’s segments include U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).

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