Barclays Increases American Express (NYSE:AXP) Price Target to $257.00

American Express (NYSE:AXP) had its target price lifted by Barclays from $250.00 to $257.00 in a research note published on Monday morning, Benzinga reports. Barclays currently has an equal weight rating on the payment services company’s stock.

A number of other research firms also recently weighed in on AXP. Jefferies Financial Group increased their price target on American Express from $225.00 to $235.00 and gave the company a “hold” rating in a research note on Tuesday, July 9th. Compass Point started coverage on American Express in a research note on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 target price on the stock. HSBC lowered American Express from a “buy” rating to a “hold” rating and boosted their target price for the stock from $265.00 to $270.00 in a research report on Tuesday, October 8th. JPMorgan Chase & Co. lowered shares of American Express from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $268.00 to $286.00 in a research note on Monday, October 7th. Finally, Evercore ISI upped their target price on shares of American Express from $275.00 to $290.00 and gave the company an “in-line” rating in a research note on Monday, October 7th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $244.58.

American Express Trading Down 2.2 %

Shares of AXP opened at $270.74 on Monday. The stock’s fifty day simple moving average is $261.94 and its 200-day simple moving average is $244.38. The firm has a market capitalization of $194.74 billion, a PE ratio of 22.30, a price-to-earnings-growth ratio of 1.50 and a beta of 1.21. American Express has a 12-month low of $140.91 and a 12-month high of $286.36. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74.

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

American Express Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be given a dividend of $0.70 per share. 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 (DPR) is presently 23.06%.

Institutional Investors Weigh In On American Express

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Cetera Advisors LLC increased its holdings in American Express by 119.6% in the 1st quarter. Cetera Advisors LLC now owns 39,497 shares of the payment services company’s stock valued at $8,993,000 after buying an additional 21,508 shares during the period. Empowered Funds LLC raised its position in American Express by 102.9% during the first quarter. Empowered Funds LLC now owns 12,480 shares of the payment services company’s stock valued at $2,842,000 after purchasing an additional 6,329 shares in the last quarter. Sciencast Management LP bought a new stake in American Express during the first quarter worth $1,881,000. Oliver Lagore Vanvalin Investment Group boosted its holdings in shares of American Express by 2,196.4% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 8,244 shares of the payment services company’s stock valued at $1,909,000 after purchasing an additional 7,885 shares in the last quarter. Finally, New Mexico Educational Retirement Board increased its stake in shares of American Express by 15.5% in the 1st quarter. New Mexico Educational Retirement Board now owns 35,763 shares of the payment services company’s stock valued at $8,143,000 after purchasing an additional 4,800 shares during the last quarter. Institutional investors and hedge funds 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.