American Express (NYSE:AXP) PT Raised to $267.00

American Express (NYSE:AXP) had its target price boosted by investment analysts at Royal Bank of Canada from $265.00 to $267.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the payment services company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 8.20% from the stock’s previous close.

Several other research analysts have also commented on AXP. JPMorgan Chase & Co. increased their price target on shares of American Express from $240.00 to $268.00 and gave the stock an “overweight” rating in a research note on Monday, July 8th. Evercore ISI increased their target price on shares of American Express from $243.00 to $255.00 and gave the stock an “in-line” rating in a research report on Wednesday, April 24th. William Blair reaffirmed an “outperform” rating on shares of American Express in a research report on Monday, June 3rd. BTIG Research began coverage on American Express in a research note on Friday, June 7th. They set a “neutral” rating for the company. Finally, HSBC raised their price objective on American Express from $232.00 to $239.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, American Express currently has a consensus rating of “Hold” and an average price target of $230.70.

American Express Price Performance

Shares of NYSE:AXP opened at $246.77 on Monday. The firm has a market cap of $177.50 billion, a price-to-earnings ratio of 20.33, a P/E/G ratio of 1.38 and a beta of 1.21. American Express has a 1 year low of $140.91 and a 1 year high of $253.73. The company has a current ratio of 1.76, a quick ratio of 1.62 and a debt-to-equity ratio of 1.74. The business has a fifty day simple moving average of $236.17 and a 200 day simple moving average of $223.03.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.26 by $0.23. The company had revenue of $16.33 billion during the quarter, compared to the consensus estimate of $16.60 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The business’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period last year, the business earned $2.89 EPS. As a group, sell-side analysts predict that American Express will post 13.11 earnings per share for the current fiscal year.

Insider Activity at American Express

In other American Express news, insider Anna Marrs sold 3,592 shares of American Express stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $230.93, for a total transaction of $829,500.56. Following the sale, the insider now owns 19,932 shares in the company, valued at $4,602,896.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Anna Marrs sold 3,592 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $230.93, for a total value of $829,500.56. Following the completion of the transaction, the insider now owns 19,932 shares of the company’s stock, valued at $4,602,896.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Skyler sold 14,802 shares of American Express stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $241.73, for a total value of $3,578,087.46. Following the sale, the insider now directly owns 16,371 shares in the company, valued at $3,957,361.83. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 138,844 shares of company stock worth $32,404,735. 0.12% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of AXP. Norges Bank bought a new position in American Express during the 4th quarter valued at about $1,112,747,000. Alphinity Investment Management Pty Ltd acquired a new stake in shares of American Express during the first quarter worth approximately $433,709,000. TD Asset Management Inc increased its holdings in shares of American Express by 62.1% during the fourth quarter. TD Asset Management Inc now owns 2,399,494 shares of the payment services company’s stock worth $449,521,000 after buying an additional 919,337 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of American Express by 1,313.2% in the fourth quarter. International Assets Investment Management LLC now owns 768,769 shares of the payment services company’s stock valued at $1,440,210,000 after acquiring an additional 714,370 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of American Express by 21.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,839,276 shares of the payment services company’s stock worth $713,202,000 after acquiring an additional 667,695 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

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.