Citigroup Has Lowered Expectations for American Express (NYSE:AXP) Stock Price

American Express (NYSE:AXP) had its target price decreased by equities researchers at Citigroup from $320.00 to $300.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the payment services company’s stock. Citigroup’s price objective points to a potential upside of 7.44% from the company’s current price.

AXP has been the topic of several other reports. BTIG Research boosted their price target on shares of American Express from $266.00 to $270.00 and gave the stock a “sell” rating in a research report on Friday, January 24th. Wells Fargo & Company increased their target price on shares of American Express from $355.00 to $370.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Royal Bank of Canada lifted their price target on shares of American Express from $330.00 to $350.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Argus lowered American Express from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 14th. Finally, Compass Point cut their target price on American Express from $325.00 to $309.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $302.57.

American Express Stock Up 0.5 %

Shares of NYSE:AXP opened at $279.23 on Monday. American Express has a 1-year low of $214.51 and a 1-year high of $326.28. The company’s fifty day moving average is $297.50 and its two-hundred day moving average is $289.24. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58. The stock has a market capitalization of $196.17 billion, a price-to-earnings ratio of 19.93, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21.

American Express (NYSE:AXP) last issued its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 EPS for the quarter, topping analysts’ consensus estimates of $3.00 by $0.04. American Express had a return on equity of 32.65% and a net margin of 15.36%. Equities analysts anticipate that American Express will post 15.33 EPS for the current year.

Insider Activity

In other American Express news, insider Raymond Joabar sold 15,179 shares of the stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $313.94, for a total value of $4,765,295.26. Following the sale, the insider now directly owns 23,866 shares in the company, valued at approximately $7,492,492.04. This trade represents a 38.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael J. Angelakis purchased 3,700 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was purchased at an average cost of $269.89 per share, with a total value of $998,593.00. Following the acquisition, the director now directly owns 3,700 shares in the company, valued at $998,593. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.12% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AXP. True Wealth Design LLC raised its position in shares of American Express by 332.0% during the third quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock worth $29,000 after purchasing an additional 83 shares during the period. Investment Management Corp VA ADV acquired a new stake in American Express during the 4th quarter worth approximately $29,000. Sellwood Investment Partners LLC bought a new position in American Express in the fourth quarter valued at approximately $33,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of American Express in the fourth quarter valued at approximately $33,000. Finally, Curio Wealth LLC bought a new stake in shares of American Express during the fourth quarter worth $37,000. 84.33% of the stock is currently owned by institutional investors.

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.