Wells Fargo & Company Raises American Express (NYSE:AXP) Price Target to $300.00

American Express (NYSE:AXP) had its price objective increased by Wells Fargo & Company from $285.00 to $300.00 in a research note issued to investors on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the payment services company’s stock.

Several other brokerages have also recently commented on AXP. Jefferies Financial Group boosted their price target on American Express from $225.00 to $235.00 and gave the stock a hold rating in a research report on Tuesday, July 9th. Monness Crespi & Hardt raised their price target on shares of American Express from $260.00 to $265.00 and gave the stock a buy rating in a research note on Monday, July 22nd. Compass Point started coverage on shares of American Express in a research note on Tuesday, July 16th. They set a neutral rating and a $260.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on shares of American Express from $240.00 to $268.00 and gave the company an overweight rating in a report on Monday, July 8th. Finally, Citigroup began coverage on American Express in a report on Monday, June 10th. They set a neutral rating and a $250.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, American Express presently has a consensus rating of Hold and an average price target of $231.43.

American Express Price Performance

Shares of NYSE AXP opened at $270.90 on Monday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66. The firm has a fifty day moving average of $252.74 and a 200 day moving average of $239.76. The firm has a market cap of $194.86 billion, a PE ratio of 22.31, a PEG ratio of 1.48 and a beta of 1.21. American Express has a one year low of $140.91 and a one year high of $272.68.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.23. American Express had a net margin of 15.53% and a return on equity of 32.94%. The firm had revenue of $16.33 billion during the quarter, compared to the consensus estimate of $16.60 billion. During the same quarter in the prior year, the firm earned $2.89 EPS. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. As a group, research analysts predict that American Express will post 13.13 EPS for the current fiscal year.

American Express Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s dividend payout ratio (DPR) is 23.06%.

Institutional Investors Weigh In On American Express

A number of institutional investors have recently modified their holdings of AXP. Scarborough Advisors LLC acquired a new position in American Express in the 4th quarter valued at about $25,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of American Express in the fourth quarter valued at approximately $29,000. Game Plan Financial Advisors LLC increased its stake in American Express by 62.5% during the 1st quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock worth $30,000 after buying an additional 50 shares during the period. Creekmur Asset Management LLC acquired a new stake in American Express during the 4th quarter worth approximately $32,000. Finally, Transcendent Capital Group LLC purchased a new position in American Express in the 4th quarter valued at approximately $37,000. 84.33% of the stock is 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.