American Express (NYSE:AXP) had its price objective lifted by stock analysts at Morgan Stanley from $305.00 to $310.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the payment services company’s stock. Morgan Stanley’s target price would indicate a potential downside of 2.28% from the company’s current price.
Several other equities research analysts also recently commented on AXP. UBS Group upped their target price on American Express from $283.00 to $320.00 and gave the company a “neutral” rating in a report on Monday, January 13th. TD Cowen raised their target price on shares of American Express from $260.00 to $268.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Evercore ISI boosted their price target on shares of American Express from $275.00 to $290.00 and gave the company an “in-line” rating in a report on Monday, October 7th. Barclays upped their price target on shares of American Express from $250.00 to $257.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of American Express from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, American Express has a consensus rating of “Hold” and an average target price of $291.50.
Get Our Latest Research Report on AXP
American Express Price Performance
American Express (NYSE:AXP – Get Free Report) last released its earnings results on Friday, January 24th. The payment services company reported $3.04 EPS for the quarter, beating the consensus estimate of $3.00 by $0.04. American Express had a net margin of 15.32% and a return on equity of 32.46%. As a group, sell-side analysts predict that American Express will post 13.4 earnings per share for the current fiscal year.
Insider Buying and Selling at American Express
In other news, CFO Caillec Christophe Le sold 6,000 shares of American Express stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $303.48, for a total value of $1,820,880.00. Following the transaction, the chief financial officer now owns 6,433 shares of the company’s stock, valued at $1,952,286.84. This trade represents a 48.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.12% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC boosted its holdings in American Express by 26,783.5% during the third quarter. International Assets Investment Management LLC now owns 909,737 shares of the payment services company’s stock valued at $2,467,210,000 after acquiring an additional 906,353 shares during the period. FMR LLC boosted its stake in American Express by 8.5% during the 3rd quarter. FMR LLC now owns 11,003,715 shares of the payment services company’s stock valued at $2,984,208,000 after purchasing an additional 866,110 shares during the period. Pathway Financial Advisers LLC grew its holdings in American Express by 59,816.0% in the 3rd quarter. Pathway Financial Advisers LLC now owns 682,443 shares of the payment services company’s stock valued at $185,079,000 after buying an additional 681,304 shares during the last quarter. World Investment Advisors LLC increased its position in American Express by 35,213.7% in the 3rd quarter. World Investment Advisors LLC now owns 317,117 shares of the payment services company’s stock worth $86,002,000 after buying an additional 316,219 shares during the period. Finally, National Bank of Canada FI lifted its holdings in shares of American Express by 73.7% during the third quarter. National Bank of Canada FI now owns 707,381 shares of the payment services company’s stock worth $191,842,000 after buying an additional 300,138 shares during 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.
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