Truist Financial Issues Positive Forecast for American Express (NYSE:AXP) Stock Price

American Express (NYSE:AXP) had its price objective raised by Truist Financial from $348.00 to $375.00 in a research note issued to investors on Monday, MarketBeat.com reports. The firm currently has a buy rating on the payment services company’s stock.

AXP has been the topic of several other reports. Deutsche Bank Aktiengesellschaft boosted their price target on American Express from $371.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, July 21st. DZ Bank lowered American Express from a “hold” rating to a “sell” rating in a research note on Monday, July 21st. Monness Crespi & Hardt lowered American Express from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 15th. Citigroup reissued a “neutral” rating and issued a $327.00 price target (up from $300.00) on shares of American Express in a research note on Wednesday, July 2nd. Finally, William Blair reissued an “outperform” rating on shares of American Express in a research note on Wednesday, July 2nd. Eight equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, American Express presently has a consensus rating of “Hold” and a consensus price target of $315.20.

American Express Stock Performance

Shares of AXP stock opened at $327.28 on Monday. The business’s 50 day simple moving average is $313.38 and its 200 day simple moving average is $292.08. American Express has a one year low of $220.43 and a one year high of $332.46. The stock has a market capitalization of $227.75 billion, a PE ratio of 22.97, a PEG ratio of 1.72 and a beta of 1.28. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.61 and a quick ratio of 1.60.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.86 by $0.22. American Express had a return on equity of 32.87% and a net margin of 14.78%.The firm had revenue of $17.86 billion for the quarter, compared to analyst estimates of $17.70 billion. During the same period in the previous year, the firm earned $3.49 earnings per share. The company’s revenue was up 9.3% compared to the same quarter last year. As a group, research analysts forecast that American Express will post 15.33 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Laureen Seeger sold 16,998 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $294.83, for a total value of $5,011,520.34. Following the completion of the sale, the insider directly owned 9,001 shares of the company’s stock, valued at approximately $2,653,764.83. This represents a 65.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Glenda G. Mcneal sold 50,000 shares of the stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $309.50, for a total value of $15,475,000.00. Following the completion of the sale, the insider directly owned 10,957 shares of the company’s stock, valued at $3,391,191.50. The trade was a 82.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 269,996 shares of company stock worth $85,261,270 in the last three months. 0.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On American Express

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Access Investment Management LLC bought a new position in American Express in the 2nd quarter valued at $26,000. Briaud Financial Planning Inc bought a new position in American Express in the 2nd quarter valued at $26,000. Investment Management Corp VA ADV bought a new position in American Express in the 4th quarter valued at $29,000. MorganRosel Wealth Management LLC bought a new position in American Express in the 1st quarter valued at $29,000. Finally, Chung Wu Investment Group LLC bought a new position in American Express in the 2nd quarter valued at $37,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

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.