Citigroup Issues Positive Forecast for American Express (NYSE:AXP) Stock Price

American Express (NYSE:AXP) had its price objective upped by Citigroup from $305.00 to $320.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the payment services company’s stock. Citigroup’s target price would suggest a potential upside of 1.19% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Royal Bank of Canada lifted their price objective on shares of American Express from $330.00 to $350.00 and gave the company an “outperform” rating in a research note on Monday. Truist Financial started 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. HSBC upped their price objective on American Express from $270.00 to $294.00 and gave the stock a “hold” rating in a research report on Friday. Wells Fargo & Company boosted their target price on American Express from $300.00 to $340.00 and gave the stock an “overweight” rating in a research note on Friday, January 3rd. Finally, Morgan Stanley raised their price target on shares of American Express from $305.00 to $310.00 and gave the company an “equal weight” rating in a research note on Monday. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $291.50.

American Express Stock Down 1.6 %

NYSE AXP opened at $316.23 on Tuesday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.80. The company has a market cap of $222.77 billion, a price-to-earnings ratio of 23.27, a PEG ratio of 1.51 and a beta of 1.23. The company has a 50 day moving average of $302.35 and a 200-day moving average of $275.17. American Express has a 1-year low of $199.07 and a 1-year high of $326.27.

American Express (NYSE:AXP) last released its earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share for the quarter, beating analysts’ consensus estimates of $3.00 by $0.04. American Express had a return on equity of 32.46% and a net margin of 15.32%. On average, equities research analysts expect that American Express will post 13.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Caillec Christophe Le sold 6,000 shares of American Express stock in a transaction dated 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 directly owns 6,433 shares in the company, valued at $1,952,286.84. This trade represents a 48.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.12% of the stock is owned by insiders.

Hedge Funds Weigh In On American Express

Several large investors have recently added to or reduced their stakes in the business. Catalina Capital Group LLC raised its stake in shares of American Express by 1.0% in the fourth quarter. Catalina Capital Group LLC now owns 3,356 shares of the payment services company’s stock worth $996,000 after purchasing an additional 34 shares during the last quarter. Auxier Asset Management raised its position in American Express by 0.5% in the 3rd quarter. Auxier Asset Management now owns 7,133 shares of the payment services company’s stock valued at $1,934,000 after buying an additional 35 shares during the last quarter. Abel Hall LLC lifted its stake in American Express by 3.6% during the 3rd quarter. Abel Hall LLC now owns 1,011 shares of the payment services company’s stock valued at $274,000 after acquiring an additional 35 shares in the last quarter. Sunflower Bank N.A. boosted its holdings in American Express by 0.9% during the 4th quarter. Sunflower Bank N.A. now owns 4,054 shares of the payment services company’s stock worth $1,203,000 after acquiring an additional 35 shares during the last quarter. Finally, Foster & Motley Inc. grew its stake in shares of American Express by 2.1% in the 4th quarter. Foster & Motley Inc. now owns 1,716 shares of the payment services company’s stock worth $509,000 after acquiring an additional 35 shares in the last quarter. Institutional investors 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.