American Express Company (NYSE:AXP) had its target price upped by analysts at Royal Bank Of Canada to $68.00 in a research report issued to clients and investors on Thursday. The brokerage presently has an “underperform” rating on the payment services company’s stock. Royal Bank Of Canada’s price objective would indicate a potential downside of 26.01% from the stock’s previous close.

Several other equities research analysts have also recently commented on AXP. Instinet reaffirmed an “underperform” rating and issued a $80.00 target price on shares of American Express in a research report on Thursday, June 29th. BidaskClub raised shares of American Express from a “hold” rating to a “buy” rating in a research report on Friday, June 30th. Credit Suisse Group reaffirmed an “underperform” rating and issued a $80.00 target price on shares of American Express in a research report on Wednesday, July 5th. William Blair reaffirmed an “outperform” rating on shares of American Express in a research report on Tuesday, July 18th. Finally, Barclays PLC reaffirmed a “buy” rating and issued a $83.00 target price on shares of American Express in a research report on Thursday, July 20th. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and thirteen have issued a buy rating to the company’s stock. American Express presently has a consensus rating of “Hold” and a consensus price target of $90.65.

Shares of American Express (AXP) traded down 0.20% during trading on Thursday, hitting $91.90. 6,512,126 shares of the stock traded hands. The company has a 50 day moving average price of $89.03 and a 200 day moving average price of $83.45. American Express has a 12 month low of $65.03 and a 12 month high of $92.95. The firm has a market cap of $81.24 billion, a price-to-earnings ratio of 18.85 and a beta of 1.21.

American Express (NYSE:AXP) last posted its earnings results on Wednesday, October 18th. The payment services company reported $1.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.03. American Express had a net margin of 14.11% and a return on equity of 21.90%. The firm had revenue of $8.44 billion during the quarter, compared to analysts’ expectations of $8.31 billion. During the same period last year, the company posted $1.24 EPS. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. Analysts anticipate that American Express will post $5.74 earnings per share for the current fiscal year.

American Express declared that its board has approved a stock repurchase program on Wednesday, June 28th that authorizes the company to repurchase $4.40 billion in outstanding shares. This repurchase authorization authorizes the payment services company to buy up to 5.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

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In other news, insider Paul D. Fabara sold 5,981 shares of the business’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $85.88, for a total value of $513,648.28. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider James Peter Bush sold 10,230 shares of the business’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $90.55, for a total transaction of $926,326.50. The disclosure for this sale can be found here. Insiders sold 959,617 shares of company stock worth $81,377,425 in the last three months. Insiders own 0.67% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. MCF Advisors LLC raised its stake in American Express by 0.3% during the second quarter. MCF Advisors LLC now owns 1,286 shares of the payment services company’s stock valued at $108,000 after purchasing an additional 4 shares in the last quarter. Appleton Partners Inc. MA raised its stake in American Express by 0.3% during the second quarter. Appleton Partners Inc. MA now owns 2,658 shares of the payment services company’s stock valued at $224,000 after purchasing an additional 8 shares in the last quarter. Westside Investment Management Inc. raised its stake in American Express by 0.5% during the second quarter. Westside Investment Management Inc. now owns 1,536 shares of the payment services company’s stock valued at $129,000 after purchasing an additional 8 shares in the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its stake in American Express by 0.4% during the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,652 shares of the payment services company’s stock valued at $223,000 after purchasing an additional 11 shares in the last quarter. Finally, Bath Savings Trust Co raised its stake in American Express by 0.3% during the second quarter. Bath Savings Trust Co now owns 4,388 shares of the payment services company’s stock valued at $369,000 after purchasing an additional 14 shares in the last quarter. 82.77% of the stock is currently owned by hedge funds and other institutional investors.

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).

Analyst Recommendations for American Express (NYSE:AXP)

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