TD Cowen Issues Positive Forecast for American Express (NYSE:AXP) Stock Price

American Express (NYSE:AXP) had its price objective upped by TD Cowen from $350.00 to $375.00 in a report released on Thursday morning,Benzinga reports. TD Cowen currently has a hold rating on the payment services company’s stock.

A number of other research analysts have also weighed in on AXP. Wolfe Research assumed coverage on American Express in a research note on Monday, December 8th. They set a “peer perform” rating on the stock. Cowen reiterated a “hold” rating on shares of American Express in a research note on Thursday. Barclays raised their price target on American Express from $355.00 to $367.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Keefe, Bruyette & Woods upped their price objective on shares of American Express from $371.00 to $394.00 and gave the company an “outperform” rating in a research note on Wednesday, October 1st. Finally, Truist Financial increased their price objective on shares of American Express from $395.00 to $420.00 and gave the stock a “buy” rating in a report on Monday, December 22nd. Nine equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $343.95.

American Express Price Performance

NYSE:AXP opened at $382.88 on Thursday. The firm has a market cap of $263.75 billion, a price-to-earnings ratio of 25.70, a price-to-earnings-growth ratio of 1.58 and a beta of 1.15. The company has a current ratio of 1.61, a quick ratio of 1.59 and a debt-to-equity ratio of 1.78. The company’s 50-day moving average is $368.75 and its two-hundred day moving average is $338.92. American Express has a 12-month low of $220.43 and a 12-month high of $387.49.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, January 30th. The payment services company reported ($11.85) EPS for the quarter, missing analysts’ consensus estimates of $3.56 by ($15.41). The firm had revenue of ($17,139.00) million for the quarter, compared to analysts’ expectations of $18.91 billion. American Express had a return on equity of 33.41% and a net margin of 14.97%. Research analysts expect that American Express will post 15.33 EPS for the current year.

American Express Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 10th. Shareholders of record on Friday, January 2nd will be paid 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, January 2nd. American Express’s payout ratio is currently 22.01%.

Insider Transactions at American Express

In other news, CMO Elizabeth Rutledge sold 50,000 shares of the firm’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $360.21, for a total value of $18,010,500.00. Following the transaction, the chief marketing officer owned 85,577 shares of the company’s stock, valued at approximately $30,825,691.17. This trade represents a 36.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Denise Pickett sold 5,000 shares of American Express stock in a transaction on Wednesday, October 22nd. The shares were sold at an average price of $350.73, for a total transaction of $1,753,650.00. Following the transaction, the insider owned 7,726 shares in the company, valued at $2,709,739.98. The trade was a 39.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 57,515 shares of company stock valued at $20,658,509 over the last 90 days. Corporate insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On American Express

Large investors have recently modified their holdings of the stock. Gratus Wealth Advisors LLC boosted its holdings in American Express by 0.8% in the 3rd quarter. Gratus Wealth Advisors LLC now owns 3,712 shares of the payment services company’s stock worth $1,233,000 after acquiring an additional 28 shares during the period. Murphy & Mullick Capital Management Corp boosted its stake in shares of American Express by 10.0% in the third quarter. Murphy & Mullick Capital Management Corp now owns 308 shares of the payment services company’s stock valued at $105,000 after purchasing an additional 28 shares during the period. McGlone Suttner Wealth Management Inc. boosted its stake in shares of American Express by 1.0% in the third quarter. McGlone Suttner Wealth Management Inc. now owns 2,910 shares of the payment services company’s stock valued at $967,000 after purchasing an additional 29 shares during the period. Walkner Condon Financial Advisors LLC grew its holdings in American Express by 2.1% during the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 1,378 shares of the payment services company’s stock valued at $458,000 after purchasing an additional 29 shares in the last quarter. Finally, Financial Management Network Inc. increased its stake in American Express by 0.8% during the 4th quarter. Financial Management Network Inc. now owns 3,740 shares of the payment services company’s stock worth $1,394,000 after buying an additional 29 shares during the period. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Company Profile

American Express is a global financial services company primarily known for its payment card products, travel services and merchant network. Founded in 1850 as an express mail business, the company evolved through the 20th century into a payments and travel-focused organization. Its core activities include issuing consumer and commercial charge and credit cards, operating a global card acceptance and processing network, and providing travel-related services and customer loyalty programs.

American Express issues a range of products for individuals, small businesses and large corporations, including personal cards, business and corporate cards, and co‑brand partnerships with airlines, hotels and retailers.