JPMorgan Chase & Co. Issues Positive Forecast for American Express (NYSE:AXP) Stock Price

American Express (NYSE:AXP) had its price target raised by research analysts at JPMorgan Chase & Co. from $301.00 to $307.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the payment services company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 3.12% from the stock’s current price.

Several other research analysts have also issued reports on AXP. StockNews.com upgraded American Express from a “hold” rating to a “buy” rating in a research report on Saturday. TD Cowen raised their price objective on American Express from $260.00 to $268.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. The Goldman Sachs Group lifted their price target on American Express from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Truist Financial began coverage on American Express in a research note on Tuesday, January 7th. They issued a “buy” rating and a $350.00 price target on the stock. Finally, Morgan Stanley raised their price objective on American Express from $252.00 to $305.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, American Express currently has a consensus rating of “Hold” and a consensus target price of $278.09.

American Express Price Performance

Shares of AXP traded up $0.70 during mid-day trading on Tuesday, reaching $297.72. The company had a trading volume of 542,501 shares, compared to its average volume of 2,017,275. American Express has a twelve month low of $177.81 and a twelve month high of $307.82. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.63 and a quick ratio of 1.63. The company’s 50-day moving average is $297.43 and its 200-day moving average is $270.12. The company has a market capitalization of $209.73 billion, a P/E ratio of 21.91, a P/E/G ratio of 1.73 and a beta of 1.23.

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

Insider Activity at American Express

In related news, insider Anre D. Williams sold 77,887 shares of American Express stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $270.26, for a total value of $21,049,740.62. Following the transaction, the insider now directly owns 111,656 shares in the company, valued at $30,176,150.56. This trade represents a 41.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Caillec Christophe Le sold 6,000 shares of American Express stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $303.48, for a total transaction 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. This trade represents a 48.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 96,998 shares of company stock valued at $26,423,439 over the last 90 days. 0.12% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On American Express

A number of hedge funds and other institutional investors have recently bought and sold shares of AXP. Prospera Private Wealth LLC acquired a new position in shares of American Express during the 3rd quarter worth $27,000. Kennebec Savings Bank acquired a new position in shares of American Express during the 3rd quarter worth $29,000. True Wealth Design LLC raised its stake in shares of American Express by 332.0% during the 3rd quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock worth $29,000 after buying an additional 83 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of American Express during the 3rd quarter worth $38,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of American Express during the 3rd quarter worth $46,000. 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.