American Express (NYSE:AXP) Price Target Raised to $200.00 at Royal Bank of Canada

American Express (NYSE:AXP) had its price objective hoisted by research analysts at Royal Bank of Canada from $195.00 to $200.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has a “sector perform” rating on the payment services company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 10.78% from the stock’s previous close.

Several other equities analysts have also issued reports on AXP. JPMorgan Chase & Co. lowered American Express from an “overweight” rating to a “neutral” rating and set a $200.00 price target on the stock. in a research note on Monday, April 11th. Bank of America lifted their price target on American Express from $204.00 to $206.00 in a research note on Thursday, March 17th. Daiwa Capital Markets raised American Express from a “neutral” rating to a “buy” rating and raised their price objective for the company from $190.00 to $215.00 in a report on Thursday, February 10th. Barclays raised their price objective on American Express from $182.00 to $190.00 and gave the company an “equal weight” rating in a report on Wednesday, January 26th. Finally, Stephens raised their price objective on American Express from $190.00 to $197.00 and gave the company an “equal weight” rating in a report on Wednesday, January 26th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $198.12.

Shares of NYSE AXP opened at $180.54 on Monday. The stock has a 50 day moving average price of $184.17 and a 200 day moving average price of $176.50. American Express has a 52 week low of $140.68 and a 52 week high of $199.55. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.68 and a current ratio of 1.68. The stock has a market capitalization of $136.72 billion, a PE ratio of 18.09, a price-to-earnings-growth ratio of 1.64 and a beta of 1.10.

American Express (NYSE:AXPGet Rating) last announced its earnings results on Friday, April 22nd. The payment services company reported $2.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.41 by $0.32. American Express had a return on equity of 33.20% and a net margin of 18.92%. The company had revenue of $11.74 billion for the quarter, compared to analyst estimates of $11.66 billion. During the same quarter last year, the company earned $1.74 earnings per share. The firm’s quarterly revenue was up 29.5% compared to the same quarter last year. As a group, research analysts forecast that American Express will post 9.74 EPS for the current year.

In related news, insider Anre D. Williams sold 139,909 shares of the business’s stock in a transaction dated Wednesday, February 9th. The stock was sold at an average price of $196.82, for a total value of $27,536,889.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Laureen Seeger sold 30,808 shares of the business’s stock in a transaction dated Monday, January 31st. The shares were sold at an average price of $175.57, for a total value of $5,408,960.56. The disclosure for this sale can be found here. Insiders sold a total of 440,177 shares of company stock valued at $81,094,533 over the last ninety days. 0.11% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Spire Wealth Management increased its holdings in American Express by 109.7% during the 4th quarter. Spire Wealth Management now owns 9,090 shares of the payment services company’s stock worth $1,487,000 after purchasing an additional 4,755 shares in the last quarter. Forsta AP Fonden increased its holdings in American Express by 7.3% during the 3rd quarter. Forsta AP Fonden now owns 139,900 shares of the payment services company’s stock worth $23,437,000 after purchasing an additional 9,500 shares in the last quarter. Kings Point Capital Management increased its holdings in American Express by 20.1% during the 3rd quarter. Kings Point Capital Management now owns 112,129 shares of the payment services company’s stock worth $18,785,000 after purchasing an additional 18,739 shares in the last quarter. Beck Mack & Oliver LLC increased its holdings in American Express by 0.4% during the 3rd quarter. Beck Mack & Oliver LLC now owns 311,519 shares of the payment services company’s stock worth $52,189,000 after purchasing an additional 1,357 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in American Express by 275.0% during the 4th quarter. Van ECK Associates Corp now owns 58,352 shares of the payment services company’s stock worth $9,546,000 after purchasing an additional 42,792 shares in the last quarter. 83.98% of the stock is owned by hedge funds and other institutional investors.

About American Express (Get Rating)

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.

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