Citigroup Forecasts Strong Price Appreciation for American Express (NYSE:AXP) Stock

American Express (NYSE:AXP) had its price target boosted by stock analysts at Citigroup from $305.00 to $320.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the payment services company’s stock. Citigroup’s price objective indicates a potential upside of 1.54% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Truist Financial began coverage on shares of American Express in a research report on Tuesday, January 7th. They set a “buy” rating and a $350.00 target price for the company. The Goldman Sachs Group raised their price objective on shares of American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. UBS Group boosted their target price on shares of American Express from $283.00 to $320.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th. Compass Point reduced their target price on shares of American Express from $325.00 to $309.00 and set a “neutral” rating for the company in a research note on Monday. Finally, JPMorgan Chase & Co. boosted their price target on American Express from $301.00 to $307.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $294.95.

American Express Stock Down 0.6 %

AXP stock opened at $315.14 on Tuesday. The firm has a market cap of $222.00 billion, a PE ratio of 23.19, a PEG ratio of 1.51 and a beta of 1.23. American Express has a 1 year low of $199.88 and a 1 year high of $326.27. The company has a fifty day simple moving average of $303.60 and a 200 day simple moving average of $276.27. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.80.

American Express (NYSE:AXP) last issued its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 earnings per share for the quarter, beating analysts’ consensus estimates of $3.00 by $0.04. American Express had a return on equity of 32.46% and a net margin of 15.32%. Sell-side analysts anticipate that American Express will post 13.4 EPS for the current fiscal year.

Insider Transactions at American Express

In other American Express news, CFO Caillec Christophe Le sold 6,000 shares of American Express stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $303.48, for a total value of $1,820,880.00. Following the completion of the transaction, the chief financial officer now owns 6,433 shares in the company, valued at approximately $1,952,286.84. The trade was a 48.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.12% of the stock is owned by company insiders.

Institutional Trading of American Express

A number of hedge funds and other institutional investors have recently made changes to their positions in AXP. Prospera Private Wealth LLC acquired a new stake in American Express in the 3rd quarter valued at about $27,000. Kennebec Savings Bank bought a new stake in shares of American Express during the third quarter valued at approximately $29,000. True Wealth Design LLC increased its holdings in shares of American Express by 332.0% in the third quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock valued at $29,000 after purchasing an additional 83 shares in the last quarter. Financial Life Planners bought a new position in American Express in the 4th quarter worth approximately $38,000. Finally, Itau Unibanco Holding S.A. acquired a new position in American Express during the 3rd quarter worth $38,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

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.