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 report issued on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the payment services company’s stock.

Several other equities research analysts have also recently issued reports on AXP. Evercore ISI raised their target price on shares of American Express from $275.00 to $290.00 and gave the stock an “in-line” rating in a research report on Monday, October 7th. Wells Fargo & Company raised their price target on shares of American Express from $300.00 to $340.00 and gave the stock an “overweight” rating in a research report on Friday, January 3rd. Hsbc Global Res downgraded shares of American Express from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 8th. StockNews.com raised shares of American Express from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Truist Financial initiated coverage on shares of American Express in a report on Tuesday, January 7th. They set a “buy” rating and a $350.00 price target for the company. Three 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.com, the stock has an average rating of “Hold” and a consensus price target of $278.09.

American Express Stock Performance

Shares of AXP opened at $300.23 on Tuesday. The company has a 50-day simple moving average of $297.91 and a 200-day simple moving average of $270.60. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $211.50 billion, a PE ratio of 22.09, a P/E/G ratio of 1.73 and a beta of 1.23. American Express has a 52-week low of $177.81 and a 52-week high of $307.82.

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, beating analysts’ consensus estimates of $3.27 by $0.22. The firm had revenue of $16.64 billion for the quarter, compared to analysts’ expectations of $16.68 billion. American Express had a net margin of 15.32% and a return on equity of 32.46%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the company earned $3.30 EPS. Equities research analysts predict that American Express will post 13.4 earnings per share for the current fiscal year.

American Express Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Friday, January 3rd. American Express’s dividend payout ratio is presently 20.60%.

Insider Buying and Selling at American Express

In other news, insider Anre D. Williams sold 77,887 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $270.26, for a total value of $21,049,740.62. Following the transaction, the insider now owns 111,656 shares in the company, valued at $30,176,150.56. This represents a 41.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Caillec Christophe Le sold 6,000 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were 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 $1,952,286.84. This represents a 48.26 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 96,998 shares of company stock valued at $26,423,439. 0.12% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On American Express

Large investors have recently added to or reduced their stakes in the stock. Prospera Private Wealth LLC bought a new stake in American Express during the third quarter worth approximately $27,000. Kennebec Savings Bank bought a new position in American Express in the third quarter worth $29,000. True Wealth Design LLC lifted its position in American Express by 332.0% in the third quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock worth $29,000 after purchasing an additional 83 shares during the period. Itau Unibanco Holding S.A. bought a new position in American Express in the third quarter worth $38,000. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new position in American Express in the third quarter worth $46,000. Institutional investors own 84.33% of the company’s stock.

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.