American Express (NYSE:AXP) Price Target Raised to $307.00

American Express (NYSE:AXP) had its price objective raised by JPMorgan Chase & Co. from $301.00 to $307.00 in a research note released on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the payment services company’s stock.

Several other brokerages have also issued reports on AXP. BTIG Research lowered shares of American Express from a “neutral” rating to a “sell” rating and set a $230.00 price target for the company. in a research note on Tuesday, October 8th. The Goldman Sachs Group lifted their target price on shares of American Express from $270.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 7th. Wells Fargo & Company raised their price objective on American Express from $300.00 to $340.00 and gave the company an “overweight” rating in a research report on Friday, January 3rd. Monness Crespi & Hardt boosted their target price on American Express from $300.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, Truist Financial started coverage on American Express in a report on Tuesday, January 7th. They set a “buy” rating and a $350.00 price target for the company. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat, American Express currently has an average rating of “Hold” and a consensus target price of $278.09.

American Express Price Performance

Shares of AXP stock opened at $311.69 on Tuesday. The business’s 50 day moving average price is $298.26 and its 200-day moving average price is $270.90. American Express has a fifty-two week low of $177.81 and a fifty-two week high of $314.00. The firm has a market cap of $219.57 billion, a P/E ratio of 22.94, a P/E/G ratio of 1.38 and a beta of 1.23. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.63 and a current ratio of 1.63.

American Express (NYSE:AXP) last issued its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, topping the consensus estimate of $3.27 by $0.22. American Express had a net margin of 15.32% and a return on equity of 32.46%. The business had revenue of $16.64 billion during the quarter, compared to analyst estimates of $16.68 billion. During the same period last year, the business posted $3.30 earnings per share. American Express’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, equities research analysts anticipate that American Express will post 13.48 earnings per share for the current year.

American Express Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Friday, January 3rd will be given a $0.70 dividend. The ex-dividend date is Friday, January 3rd. This represents a $2.80 annualized dividend and a yield of 0.90%. American Express’s payout ratio is 20.60%.

Insider Buying and Selling at American Express

In other news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total value of $3,552,818.78. Following the transaction, the insider now owns 109,691 shares of the company’s stock, valued at $29,724,067.18. This trade represents a 10.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Caillec Christophe Le sold 6,000 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $303.48, for a total transaction of $1,820,880.00. Following the completion of the sale, the chief financial officer now directly owns 6,433 shares of the company’s stock, valued at $1,952,286.84. This represents a 48.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 96,998 shares of company stock worth $26,423,439 in the last three months. 0.11% of the stock is currently owned by company insiders.

Institutional Trading of American Express

Institutional investors have recently made changes to their positions in the business. Lmcg Investments LLC grew its holdings in American Express by 2.0% during the 4th quarter. Lmcg Investments LLC now owns 1,988 shares of the payment services company’s stock valued at $590,000 after buying an additional 39 shares in the last quarter. Aspiriant LLC lifted its position in shares of American Express by 3.4% in the fourth quarter. Aspiriant LLC now owns 5,172 shares of the payment services company’s stock worth $1,535,000 after buying an additional 170 shares in the last quarter. Reliant Investment Management LLC boosted its stake in American Express by 1.7% during the fourth quarter. Reliant Investment Management LLC now owns 26,084 shares of the payment services company’s stock valued at $7,741,000 after buying an additional 435 shares during the last quarter. Pure Financial Advisors LLC increased its stake in American Express by 22.1% in the 4th quarter. Pure Financial Advisors LLC now owns 2,060 shares of the payment services company’s stock worth $611,000 after acquiring an additional 373 shares during the last quarter. Finally, Amplius Wealth Advisors LLC raised its holdings in shares of American Express by 5.0% during the 4th quarter. Amplius Wealth Advisors LLC now owns 1,627 shares of the payment services company’s stock worth $483,000 after acquiring an additional 77 shares in the last quarter. Hedge funds and other 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.