American Express (NYSE:AXP) Stock Price Expected to Rise, UBS Group Analyst Says

American Express (NYSE:AXP) had its target price raised by UBS Group from $283.00 to $320.00 in a research note released on Monday,Benzinga reports. They currently have a neutral rating on the payment services company’s stock.

Several other equities analysts have also issued reports on the stock. The Goldman Sachs Group lifted their price objective 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. Keefe, Bruyette & Woods boosted their price target on American Express from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Evercore ISI raised their price objective on American Express from $275.00 to $290.00 and gave the company an “in-line” rating in a research report on Monday, October 7th. HSBC downgraded shares of American Express from a “buy” rating to a “hold” rating and boosted their target price for the stock from $265.00 to $270.00 in a report on Tuesday, October 8th. Finally, Truist Financial initiated coverage on shares of American Express in a research report on Tuesday, January 7th. They issued a “buy” rating and a $350.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $278.09.

American Express Trading Up 4.0 %

Shares of NYSE AXP opened at $312.51 on Monday. American Express has a twelve month low of $177.81 and a twelve month high of $313.96. The firm has a market cap of $220.15 billion, a PE ratio of 23.00, a price-to-earnings-growth ratio of 1.73 and a beta of 1.23. The business has a fifty day simple moving average of $297.91 and a two-hundred 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.

American Express (NYSE:AXP) last released its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.22. American Express had a net margin of 15.32% and a return on equity of 32.46%. The company had revenue of $16.64 billion during the quarter, compared to analyst estimates of $16.68 billion. During the same period in the prior year, the firm earned $3.30 earnings per share. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. Analysts expect that American Express will post 13.4 earnings per share for the current fiscal year.

American Express Announces Dividend

The firm 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 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Friday, January 3rd. American Express’s payout ratio is 20.60%.

Insider Transactions at American Express

In other American Express news, insider Anre D. Williams sold 77,887 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $270.26, for a total transaction of $21,049,740.62. Following the sale, the insider now directly owns 111,656 shares of the company’s stock, valued at approximately $30,176,150.56. This trade represents a 41.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $270.98, for a total value of $3,552,818.78. Following the completion of the transaction, the insider now directly owns 109,691 shares of the company’s stock, valued at approximately $29,724,067.18. This trade represents a 10.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 96,998 shares of company stock worth $26,423,439 over the last 90 days. 0.12% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On American Express

Hedge funds and other institutional investors have recently made changes to their positions in the company. Capital Wealth Planning LLC increased its holdings in American Express by 4.0% in the second quarter. Capital Wealth Planning LLC now owns 1,112 shares of the payment services company’s stock valued at $257,000 after buying an additional 43 shares in the last quarter. Mesirow Financial Investment Management Inc. increased its stake in shares of American Express by 2.7% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 74,742 shares of the payment services company’s stock valued at $17,318,000 after purchasing an additional 1,944 shares in the last quarter. Citizens Financial Group Inc. RI raised its holdings in American Express by 4.2% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 87,648 shares of the payment services company’s stock worth $20,295,000 after purchasing an additional 3,559 shares during the period. Renaissance Technologies LLC boosted its position in American Express by 32.7% during the second quarter. Renaissance Technologies LLC now owns 276,026 shares of the payment services company’s stock worth $63,914,000 after purchasing an additional 68,033 shares in the last quarter. Finally, GDS Wealth Management grew its holdings in American Express by 8.1% in the second quarter. GDS Wealth Management now owns 56,778 shares of the payment services company’s stock valued at $13,147,000 after purchasing an additional 4,249 shares during the period. Institutional investors and hedge funds 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.