American Express (NYSE:AXP) Hits New 1-Year High - Here's What Happened

Key Points

• American Express shares reached a new **52-week high** of $345.51 during trading, indicating strong investor confidence and trading volume of over 3.3 million shares.
• Analysts have set new price targets for American Express, with several upgrades leading to an average target price of **$315.20**, despite some mixed ratings among equities research analysts.
• The company reported quarterly earnings of **$4.08** per share, surpassing expectations and showing a **9.3%** revenue increase year-over-year with a total revenue of $17.86 billion.

Shares of American Express Company (NYSE:AXP) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $345.51 and last traded at $341.73, with a volume of 3327074 shares changing hands. The stock had previously closed at $341.12.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on AXP shares. Deutsche Bank Aktiengesellschaft upped their target price on American Express from $371.00 to $375.00 and gave the company a "buy" rating in a report on Monday, July 21st. William Blair reaffirmed an "outperform" rating on shares of American Express in a report on Wednesday, July 2nd. Monness Crespi & Hardt lowered American Express from a "buy" rating to a "neutral" rating in a report on Tuesday, July 15th. Keefe, Bruyette & Woods upped their target price on American Express from $360.00 to $371.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Finally, Morgan Stanley increased their price objective on American Express from $250.00 to $311.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. Eight equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $315.20.

American Express Stock Up 0.2%

The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 1.80. The company has a market cap of $237.80 billion, a PE ratio of 23.98, a P/E/G ratio of 1.81 and a beta of 1.28. The stock has a 50-day moving average of $315.10 and a 200-day moving average of $294.01.

American Express (NYSE:AXP - Get Free Report) last issued its quarterly earnings data on Friday, July 18th. The payment services company reported $4.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.86 by $0.22. American Express had a return on equity of 32.87% and a net margin of 14.78%.The company had revenue of $17.86 billion for the quarter, compared to the consensus estimate of $17.70 billion. During the same quarter last year, the business posted $3.49 earnings per share. The firm's revenue was up 9.3% compared to the same quarter last year. Sell-side analysts predict that American Express Company will post 15.33 earnings per share for the current fiscal year.

Insider Buying and Selling at American Express

In other American Express news, insider Laureen Seeger sold 16,998 shares of the firm's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $294.83, for a total transaction of $5,011,520.34. Following the sale, the insider owned 9,001 shares in the company, valued at $2,653,764.83. This trade represents a 65.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Stephen J. Squeri sold 112,272 shares of the firm's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $329.86, for a total value of $37,034,041.92. Following the sale, the chief executive officer owned 92,810 shares in the company, valued at $30,614,306.60. The trade was a 54.74% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 269,996 shares of company stock valued at $85,261,270. 0.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On American Express

A number of large investors have recently added to or reduced their stakes in AXP. Briaud Financial Planning Inc purchased a new stake in American Express during the second quarter valued at about $26,000. Access Investment Management LLC purchased a new position in shares of American Express in the second quarter worth about $26,000. MorganRosel Wealth Management LLC purchased a new position in shares of American Express in the first quarter worth about $29,000. Nexus Investment Management ULC purchased a new position in shares of American Express in the first quarter worth about $34,000. Finally, Hughes Financial Services LLC purchased a new position in shares of American Express in the first quarter worth about $35,000. 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.

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