TD Cowen Raises American Express (NYSE:AXP) Price Target to $268.00

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

A number of other analysts have also weighed in on AXP. Barclays upped their target price on shares of American Express from $250.00 to $257.00 and gave the stock an “equal weight” rating in a research note on Monday. Keefe, Bruyette & Woods raised their price objective on shares of American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a report on Monday, July 8th. 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 report on Tuesday, October 8th. The Goldman Sachs Group lifted their price target on American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Finally, Bank of America increased their price objective on American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. Four 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, American Express has an average rating of “Hold” and a consensus target price of $253.09.

American Express Stock Performance

Shares of AXP stock opened at $269.96 on Monday. American Express has a one year low of $141.02 and a one year high of $286.36. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66. The firm’s 50 day moving average price is $263.16 and its 200-day moving average price is $244.92. The firm has a market cap of $194.18 billion, a P/E ratio of 22.24, a P/E/G ratio of 1.50 and a beta of 1.21.

American Express (NYSE:AXP) last announced its quarterly earnings data 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. American Express had a return on equity of 32.94% and a net margin of 15.53%. The business had revenue of $16.64 billion for the quarter, compared to analysts’ expectations of $16.68 billion. During the same period last year, the firm earned $3.30 earnings per share. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, equities research analysts predict that American Express will post 13.14 EPS for the current year.

American Express Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 4th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date is Friday, October 4th. American Express’s payout ratio is currently 23.06%.

Insider Buying and Selling

In other American Express news, insider Anre D. Williams sold 77,887 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $270.26, for a total transaction of $21,049,740.62. Following the completion of the transaction, the insider now owns 111,656 shares in the company, valued at approximately $30,176,150.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.12% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. DHJJ Financial Advisors Ltd. increased its position in American Express by 42.2% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock worth $38,000 after purchasing an additional 49 shares during the period. Riverview Trust Co purchased a new stake in shares of American Express in the first quarter valued at approximately $38,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in American Express during the third quarter worth $46,000. BNP Paribas purchased a new position in American Express in the first quarter worth $40,000. Finally, POM Investment Strategies LLC acquired a new stake in American Express in the second quarter valued at $42,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

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.