American Express (NYSE:AXP) Price Target Raised to $268.00

American Express (NYSE:AXP) had its price target upped by TD Cowen from $260.00 to $268.00 in a research note published on Monday, Benzinga reports. They currently have a hold rating on the payment services company’s stock.

A number of other research analysts have also recently commented on the stock. Compass Point began coverage on shares of American Express in a research report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 target price on the stock. Hsbc Global Res downgraded shares of American Express from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 8th. Wells Fargo & Company raised their price target on American Express from $285.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. downgraded American Express from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $268.00 to $286.00 in a report on Monday, October 7th. Finally, BTIG Research lowered American Express from a “neutral” rating to a “sell” rating and set a $230.00 target price on the stock. in a research note on Tuesday, October 8th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $244.58.

American Express Trading Down 0.4 %

Shares of AXP stock opened at $271.22 on Monday. American Express has a twelve month low of $141.02 and a twelve month high of $286.36. The stock has a market cap of $195.09 billion, a price-to-earnings ratio of 22.34, a PEG ratio of 1.50 and a beta of 1.21. The company’s 50-day moving average price is $263.16 and its 200-day moving average price is $244.92. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $0.22. The business had revenue of $16.64 billion during the quarter, compared to the consensus estimate of $16.68 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. The business’s revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the firm earned $3.30 EPS. As a group, equities analysts predict that American Express will post 13.14 earnings per share for the current year.

American Express Dividend Announcement

The business 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 $0.70 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.80 annualized dividend and a yield of 1.03%. American Express’s dividend payout ratio is currently 23.06%.

Institutional Trading of American Express

Several institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its position in American Express by 8.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock valued at $1,923,399,000 after acquiring an additional 662,382 shares during the last quarter. TD Asset Management Inc lifted its holdings in shares of American Express by 8.2% in the 1st quarter. TD Asset Management Inc now owns 2,595,370 shares of the payment services company’s stock valued at $590,940,000 after purchasing an additional 195,876 shares during the last quarter. Boston Partners boosted its position in shares of American Express by 22.2% in the 1st quarter. Boston Partners now owns 2,129,175 shares of the payment services company’s stock valued at $485,525,000 after purchasing an additional 387,166 shares during the period. Alphinity Investment Management Pty Ltd purchased a new position in American Express during the 1st quarter worth approximately $433,709,000. Finally, Nordea Investment Management AB increased its position in American Express by 14.2% during the first quarter. Nordea Investment Management AB now owns 1,798,742 shares of the payment services company’s stock worth $408,494,000 after buying an additional 224,079 shares during the period. Hedge funds and other institutional investors own 84.33% of the company’s stock.

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.