American Express (NYSE:AXP) Reaches New 1-Year High - What's Next?

Key Points

• American Express shares reached a new **52-week high** of $332.07, reflecting strong trading activity with over **3.4 million shares** exchanged.
• Analysts have mixed ratings on AXP, with **8 Buy**, **15 Hold**, and **2 Sell** ratings, and an average price target of **$311.05**.
• The company reported quarterly earnings of **$4.08 per share**, exceeding estimates and marking a **9.3% year-over-year revenue increase** to **$17.86 billion**.

American Express Company (NYSE:AXP) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $332.07 and last traded at $323.22, with a volume of 3437531 shares changing hands. The stock had previously closed at $331.18.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on AXP shares. Wells Fargo & Company set a $327.00 price target on American Express in a research note on Wednesday, July 2nd. Royal Bank Of Canada reissued an "outperform" rating on shares of American Express in a research note on Monday, July 14th. Truist Financial raised their price objective on American Express from $335.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. William Blair reissued an "outperform" rating on shares of American Express in a research note on Wednesday, July 2nd. Finally, Keefe, Bruyette & Woods raised their price objective on American Express from $360.00 to $371.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Eight equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $311.05.

American Express Price Performance

The business has a 50 day moving average price of $312.66 and a two-hundred day moving average price of $290.80. The stock has a market cap of $224.92 billion, a PE ratio of 22.68, a P/E/G ratio of 1.75 and a beta of 1.28. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.60 and a current ratio of 1.61.

American Express (NYSE:AXP - Get Free Report) last announced its earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share 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 firm had revenue of $17.86 billion for the quarter, compared to the consensus estimate of $17.70 billion. During the same quarter in the previous year, the business earned $3.49 EPS. The company's revenue was up 9.3% compared to the same quarter last year. Research analysts expect that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd were paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Thursday, July 3rd. American Express's payout ratio is presently 23.02%.

Insider Transactions at American Express

In other news, insider Laureen Seeger sold 61,721 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $297.47, for a total value of $18,360,145.87. Following the transaction, the insider owned 9,001 shares in the company, valued at $2,677,527.47. The trade was a 87.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anna Marrs sold 5,500 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $310.77, for a total value of $1,709,235.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders have sold 134,219 shares of company stock worth $40,555,901 in the last 90 days. Insiders own 0.20% of the company's stock.

Hedge Funds Weigh In On American Express

Large investors have recently made changes to their positions in the stock. Briaud Financial Planning Inc bought a new position in shares of American Express in the second quarter worth $26,000. Access Investment Management LLC bought a new position in shares of American Express in the second quarter worth $26,000. Investment Management Corp VA ADV bought a new position in shares of American Express in the fourth quarter worth $29,000. MorganRosel Wealth Management LLC bought a new position in shares of American Express in the first quarter worth $29,000. Finally, Nexus Investment Management ULC bought a new stake in American Express during the first quarter valued at $34,000. 84.33% of the stock is owned by institutional investors.

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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