TD Cowen Increases American Express (NYSE:AXP) Price Target to $268.00

American Express (NYSE:AXP) had its price objective increased by equities research analysts at TD Cowen from $260.00 to $268.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “hold” rating on the payment services company’s stock. TD Cowen’s target price indicates a potential downside of 1.58% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Royal Bank of Canada boosted their price target on shares of American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. The Goldman Sachs Group upped their price objective on shares of American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 7th. JPMorgan Chase & Co. cut shares of American Express from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $268.00 to $286.00 in a report on Monday, October 7th. Jefferies Financial Group upped their price objective on shares of American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a report on Tuesday, July 9th. Finally, Evercore ISI upped their price objective on shares of American Express from $275.00 to $290.00 and gave the stock an “in-line” rating in a report on Monday, October 7th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, American Express currently has a consensus rating of “Hold” and a consensus target price of $244.58.

American Express Price Performance

Shares of NYSE AXP opened at $272.31 on Monday. American Express has a 1 year low of $140.91 and a 1 year high of $286.36. 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 company’s 50-day moving average is $262.61 and its 200 day moving average is $244.73. The stock has a market capitalization of $195.87 billion, a P/E ratio of 22.43, a P/E/G ratio of 1.50 and a beta of 1.21.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.22. American Express had a net margin of 15.53% and a return on equity of 32.94%. The company had revenue of $16.64 billion for the quarter, compared to analysts’ expectations of $16.68 billion. During the same quarter in the previous year, the company earned $3.30 earnings per share. American Express’s quarterly revenue was up 8.2% on a year-over-year basis. On average, sell-side analysts expect that American Express will post 13.14 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its position in American Express by 8.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock valued at $1,923,399,000 after purchasing an additional 662,382 shares during the period. TD Asset Management Inc increased its holdings in American Express by 8.2% during the first quarter. TD Asset Management Inc now owns 2,595,370 shares of the payment services company’s stock valued at $590,940,000 after buying an additional 195,876 shares during the last quarter. Boston Partners increased its holdings in American Express by 22.2% during the first quarter. Boston Partners now owns 2,129,175 shares of the payment services company’s stock valued at $485,525,000 after buying an additional 387,166 shares during the last quarter. Alphinity Investment Management Pty Ltd purchased a new stake in American Express during the first quarter valued at approximately $433,709,000. Finally, Nordea Investment Management AB increased its holdings in American Express by 14.2% during the first quarter. Nordea Investment Management AB now owns 1,798,742 shares of the payment services company’s stock valued at $408,494,000 after buying an additional 224,079 shares during the last quarter. Institutional investors own 84.33% of the company’s stock.

American Express Company Profile

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.