American Express (NYSE:AXP) had its price target boosted by equities research analysts at UBS Group from $283.00 to $320.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the payment services company’s stock. UBS Group’s price objective points to a potential upside of 6.58% from the stock’s current price.
Several other research firms have also weighed in on AXP. StockNews.com upgraded American Express from a “hold” rating to a “buy” rating in a research note on Saturday. The Goldman Sachs Group increased their price objective on American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. JPMorgan Chase & Co. upped their target price on shares of American Express from $286.00 to $301.00 and gave the stock a “neutral” rating in a report on Monday, December 9th. Morgan Stanley upped their price objective on shares of American Express from $252.00 to $305.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 19th. Finally, HSBC cut shares of American Express from a “buy” rating to a “hold” rating and lifted their target price for the company from $265.00 to $270.00 in a research note on Tuesday, October 8th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $278.09.
View Our Latest Analysis on AXP
American Express Trading Up 1.1 %
American Express (NYSE:AXP – Get Free Report) last posted its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.22. American Express had a net margin of 15.32% and a return on equity of 32.46%. The firm had revenue of $16.64 billion for the quarter, compared to the consensus estimate of $16.68 billion. The business’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.30 earnings per share. As a group, equities analysts forecast that American Express will post 13.4 EPS for the current year.
Insiders Place Their Bets
In other news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following the completion of the transaction, the insider now directly owns 109,691 shares of the company’s stock, valued at $29,724,067.18. This represents a 10.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anre D. Williams sold 77,887 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $270.26, for a total value of $21,049,740.62. Following the completion of the sale, the insider now owns 111,656 shares in the company, valued at $30,176,150.56. The trade was a 41.09 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 96,998 shares of company stock worth $26,423,439. Company insiders own 0.12% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the business. Prospera Private Wealth LLC bought a new stake in American Express during the 3rd quarter worth about $27,000. Kennebec Savings Bank acquired a new stake in shares of American Express in the third quarter valued at about $29,000. True Wealth Design LLC boosted its position in American Express by 332.0% during the third quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock valued at $29,000 after purchasing an additional 83 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in American Express in the third quarter valued at approximately $38,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of American Express during the 3rd quarter worth approximately $46,000. 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.
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