American Express Company [NYSE: AXP] price plunged by -1.55 percent to reach at -$2.71. The company report on March 8, 2023 that American Express Board Authorizes Share Repurchase Plan, Announces 15 Percent Dividend Increase.
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The Board of Directors of American Express Company (NYSE: AXP) approved the repurchase of up to 120 million common shares, in accordance with the company’s capital plans that are, from time to time, reviewed and not objected to by the Federal Reserve. This authorization replaces the approximately 36 million common shares of common stock remaining from the previous Board authorization in 2019.
The timing and amount of common shares purchased under the company’s authorized capital plans will depend on various factors, including the company’s business plans, financial performance and market conditions.
A sum of 4348479 shares traded at recent session while its average daily volume was at 3.18M shares. American Express Company shares reached a high of $180.267 and dropped to a low of $171.955 until finishing in the latest session at $172.12.
The one-year AXP stock forecast points to a potential upside of 7.98. The average equity rating for AXP stock is currently 2.40, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on American Express Company [AXP]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AXP shares is $187.05 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AXP stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Morgan Stanley have made an estimate for American Express Company shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on February 08, 2023. The new note on the price target was released on January 05, 2023, representing the official price target for American Express Company stock. Previously, the target price had yet another raise to $159, while Piper Sandler analysts kept a Neutral rating on AXP stock.
The Average True Range (ATR) for American Express Company is set at 3.90, with the Price to Sales ratio for AXP stock in the period of the last 12 months amounting to 2.31. The Price to Book ratio for the last quarter was 5.21, with the Price to Cash per share for the same quarter was set at 45.38. Price to Free Cash Flow for AXP in the course of the last twelve months was 7.10.
AXP Stock Performance Analysis:
American Express Company [AXP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.84. With this latest performance, AXP shares dropped by -3.68% in over the last four-week period, additionally plugging by 13.05% over the last 6 months – not to mention a rise of 7.54% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AXP stock in for the last two-week period is set at 47.61, with the RSI for the last a single of trading hit 39.37, and the three-weeks RSI is set at 52.22 for American Express Company [AXP]. The present Moving Average for the last 50 days of trading for this stock 165.69, while it was recorded at 176.08 for the last single week of trading, and 154.40 for the last 200 days.
AXP Stock EPS
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AXP. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for American Express Company go to 7.50%.
American Express Company [AXP] Insider Position Details
There are presently around $108,246 million, or 86.40% of AXP stock, in the hands of institutional investors. The top three institutional holders of AXP stocks are: BERKSHIRE HATHAWAY INC with ownership of 151,610,700, which is approximately 0% of the company’s market cap and around 0.15% of the total institutional ownership; VANGUARD GROUP INC, holding 47,283,954 shares of the stock with an approximate value of $8.14 billion in AXP stocks shares; and BLACKROCK INC., currently with $7.83 billion in AXP stock with ownership of nearly 2.071% of the company’s market capitalization.
Positions in American Express Company stocks held by institutional investors increased at the end of Friday and at the time of the Friday reporting period, where 914 institutional holders increased their position in American Express Company [NYSE:AXP] by around 19,438,801 shares. Additionally, 853 investors decreased positions by around 23,997,303 shares, while 361 investors held positions by with 585,464,538 shares. The mentioned changes placed institutional holdings at 628,900,642 shares, according to the latest SEC report filing. AXP stock had 211 new institutional investments in for a total of 2,386,406 shares, while 98 institutional investors sold positions of 1,724,848 shares during the same period.