American Express (NYSE:AXP) Price Target Cut to $315.00 by Analysts at Truist Financial

American Express (NYSE:AXP) had its target price lowered by Truist Financial from $340.00 to $315.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the payment services company’s stock.

A number of other equities research analysts have also recently commented on AXP. Wells Fargo & Company upped their target price on shares of American Express from $355.00 to $370.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Citigroup decreased their price objective on American Express from $320.00 to $300.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. StockNews.com lowered American Express from a “buy” rating to a “hold” rating in a report on Monday, January 27th. Bank of America raised American Express from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $325.00 to $274.00 in a report on Friday, April 11th. Finally, Morgan Stanley boosted their price objective on shares of American Express from $305.00 to $310.00 and gave the company an “equal weight” rating in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $297.16.

American Express Stock Up 4.2 %

Shares of NYSE:AXP opened at $252.69 on Tuesday. American Express has a twelve month low of $220.43 and a twelve month high of $326.28. The company has a market capitalization of $177.52 billion, a PE ratio of 18.04, a P/E/G ratio of 1.41 and a beta of 1.16. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. The firm has a 50 day simple moving average of $270.50 and a 200-day simple moving average of $287.37.

American Express (NYSE:AXP) last posted its earnings results on Thursday, April 17th. The payment services company reported $3.64 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.17. American Express had a return on equity of 32.65% and a net margin of 15.36%. The business had revenue of $16.97 billion during the quarter, compared to the consensus estimate of $17.04 billion. During the same period in the previous year, the business earned $3.33 EPS. On average, equities analysts predict that American Express will post 15.33 EPS for the current fiscal year.

American Express Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.30%. This is a boost from American Express’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, April 4th. American Express’s dividend payout ratio (DPR) is 22.91%.

Insider Buying and Selling

In other news, Director Michael J. Angelakis bought 3,700 shares of American Express stock in a transaction on Friday, March 7th. The shares were bought at an average cost of $269.89 per share, for a total transaction of $998,593.00. Following the acquisition, the director now owns 3,700 shares in the company, valued at approximately $998,593. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of American Express stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $319.17, for a total transaction of $3,027,327.45. Following the sale, the insider now owns 13,500 shares of the company’s stock, valued at approximately $4,308,795. This trade represents a 41.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On American Express

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Opal Wealth Advisors LLC lifted its holdings in shares of American Express by 1.6% during the 4th quarter. Opal Wealth Advisors LLC now owns 2,142 shares of the payment services company’s stock worth $636,000 after acquiring an additional 33 shares during the period. Catalina Capital Group LLC boosted its holdings in shares of American Express by 1.0% in the 4th quarter. Catalina Capital Group LLC now owns 3,356 shares of the payment services company’s stock valued at $996,000 after purchasing an additional 34 shares during the last quarter. Boston Financial Mangement LLC grew its stake in shares of American Express by 0.9% during the 4th quarter. Boston Financial Mangement LLC now owns 4,007 shares of the payment services company’s stock valued at $1,189,000 after buying an additional 34 shares during the period. Sunflower Bank N.A. increased its holdings in shares of American Express by 0.9% during the 4th quarter. Sunflower Bank N.A. now owns 4,054 shares of the payment services company’s stock worth $1,203,000 after buying an additional 35 shares during the last quarter. Finally, Foster & Motley Inc. increased its holdings in shares of American Express by 2.1% during the 4th quarter. Foster & Motley Inc. now owns 1,716 shares of the payment services company’s stock worth $509,000 after buying an additional 35 shares during the last quarter. Hedge funds and other institutional investors 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.