American Express (NYSE:AXP) Downgraded by JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of American Express (NYSE:AXP) from an overweight rating to a neutral rating in a research note issued to investors on Monday, MarketBeat Ratings reports. The brokerage currently has $286.00 target price on the payment services company’s stock, up from their previous target price of $268.00.

Several other analysts have also recently issued reports on AXP. Keefe, Bruyette & Woods increased their price objective on American Express from $265.00 to $280.00 and gave the company an outperform rating in a research note on Monday, July 8th. Royal Bank of Canada increased their price target on American Express from $265.00 to $267.00 and gave the company an outperform rating in a research report on Monday, July 22nd. Bank of America boosted their price objective on American Express from $263.00 to $265.00 and gave the stock a neutral rating in a research report on Tuesday, September 17th. Citigroup started coverage on shares of American Express in a report on Monday, June 10th. They issued a neutral rating and a $250.00 target price on the stock. Finally, Barclays boosted their price target on shares of American Express from $221.00 to $223.00 and gave the stock an equal weight rating in a report on Tuesday, July 9th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, American Express presently has an average rating of Hold and a consensus target price of $239.96.

American Express Stock Performance

NYSE AXP opened at $271.48 on Monday. The company has a market cap of $195.28 billion, a P/E ratio of 22.36, a P/E/G ratio of 1.48 and a beta of 1.21. American Express has a 1-year low of $140.91 and a 1-year high of $276.79. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.66. The stock has a 50-day moving average of $254.76 and a two-hundred day moving average of $241.19.

American Express (NYSE:AXP) last announced its earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.23. The firm had revenue of $16.33 billion for the quarter, compared to the consensus estimate of $16.60 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.89 EPS. As a group, analysts anticipate that American Express will post 13.13 EPS for the current year.

American Express Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be issued a $0.70 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a yield of 1.03%. American Express’s dividend payout ratio (DPR) is 23.06%.

Institutional Investors Weigh In On American Express

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Scarborough Advisors LLC acquired a new position in American Express in the fourth quarter valued at $25,000. Game Plan Financial Advisors LLC increased its stake in shares of American Express by 62.5% during the 1st quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock valued at $30,000 after acquiring an additional 50 shares during the last quarter. Creekmur Asset Management LLC purchased a new position in shares of American Express during the 4th quarter worth about $32,000. Transcendent Capital Group LLC acquired a new stake in shares of American Express in the fourth quarter worth approximately $37,000. Finally, Riverview Trust Co purchased a new stake in American Express in the first quarter valued at approximately $38,000. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

About American Express

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.