American Express (NYSE:AXP) Price Target Raised to $355.00 at Barclays

American Express (NYSE:AXP) had its target price hoisted by Barclays from $336.00 to $355.00 in a report issued on Monday, MarketBeat.com reports. Barclays currently has an equal weight rating on the payment services company’s stock.

Several other brokerages also recently issued reports on AXP. Truist Financial boosted their price target on shares of American Express from $348.00 to $375.00 and gave the company a “buy” rating in a report on Monday, September 15th. HSBC set a $295.00 price objective on shares of American Express and gave the stock a “hold” rating in a report on Friday, October 10th. Morgan Stanley boosted their price target on shares of American Express from $311.00 to $362.00 and gave the stock an “equal weight” rating in a research report on Monday, September 29th. Citigroup reiterated a “neutral” rating and issued a $327.00 price target (up from $300.00) on shares of American Express in a research report on Wednesday, July 2nd. Finally, UBS Group boosted their price target on shares of American Express from $330.00 to $340.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Nine analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $332.26.

American Express Trading Up 0.7%

AXP opened at $349.21 on Monday. The firm has a market capitalization of $243.01 billion, a P/E ratio of 23.44, a P/E/G ratio of 1.81 and a beta of 1.29. The firm’s 50 day moving average is $326.69 and its 200-day moving average is $303.47. American Express has a 52-week low of $220.43 and a 52-week high of $350.22. The company has a quick ratio of 1.69, a current ratio of 1.71 and a debt-to-equity ratio of 1.78.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, October 17th. The payment services company reported $4.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.98 by $0.16. The business had revenue of $18.43 billion during the quarter, compared to analyst estimates of $18.03 billion. American Express had a net margin of 14.97% and a return on equity of 33.41%. The business’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.49 earnings per share. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. Analysts expect that American Express will post 15.33 EPS for the current fiscal year.

American Express Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Friday, October 10th will be issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, October 10th. American Express’s payout ratio is presently 22.01%.

Insider Activity

In other American Express news, insider Anna Marrs sold 5,500 shares of the business’s stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $310.77, for a total transaction of $1,709,235.00. Following the sale, the insider owned 20,311 shares in the company, valued at approximately $6,312,049.47. The trade was a 21.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Glenda G. Mcneal sold 50,000 shares of the business’s stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total value of $15,475,000.00. Following the sale, the insider owned 10,957 shares in the company, valued at approximately $3,391,191.50. The trade was a 82.03% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 269,996 shares of company stock worth $85,261,270. 0.20% of the stock is owned by company insiders.

Institutional Trading of American Express

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new position in American Express during the 2nd quarter valued at about $1,897,335,000. Nuveen LLC purchased a new position in American Express during the 1st quarter valued at about $1,454,667,000. Wellington Management Group LLP grew its stake in American Express by 13.7% during the 1st quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company’s stock valued at $4,849,777,000 after acquiring an additional 2,168,445 shares in the last quarter. Laurel Wealth Advisors LLC grew its stake in American Express by 31,595.9% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,742,009 shares of the payment services company’s stock valued at $555,666,000 after acquiring an additional 1,736,513 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in American Express by 11.1% during the 2nd quarter. Geode Capital Management LLC now owns 13,487,316 shares of the payment services company’s stock valued at $4,282,984,000 after acquiring an additional 1,349,746 shares in the last quarter. 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.