American Express (NYSE:AXP) Given New $340.00 Price Target at Truist Financial

American Express (NYSE:AXP) had its price target lifted by Truist Financial from $335.00 to $340.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Truist Financial currently has a buy rating on the payment services company's stock.

A number of other equities research analysts also recently weighed in on AXP. JPMorgan Chase & Co. upped their target price on American Express from $244.00 to $260.00 and gave the stock a "neutral" rating in a research report on Monday, April 21st. Baird R W raised American Express from a "strong sell" rating to a "hold" rating in a research note on Friday, March 14th. The Goldman Sachs Group dropped their price target on shares of American Express from $367.00 to $330.00 and set a "buy" rating on the stock in a research report on Tuesday, March 18th. Citigroup restated a "neutral" rating and issued a $327.00 price target (up previously from $300.00) on shares of American Express in a research report on Wednesday, July 2nd. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $310.00 price objective on shares of American Express in a research report on Monday, April 21st. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $298.05.

American Express Stock Performance

Shares of NYSE:AXP traded up $1.15 during trading on Wednesday, hitting $318.13. 2,424,175 shares of the company traded hands, compared to its average volume of 2,844,216. American Express has a one year low of $220.43 and a one year high of $329.14. The stock has a market capitalization of $222.88 billion, a price-to-earnings ratio of 22.22, a PEG ratio of 1.54 and a beta of 1.25. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. The business's fifty day moving average is $297.78 and its 200-day moving average is $290.19.

American Express (NYSE:AXP - Get Free Report) last posted its earnings results on Thursday, April 17th. The payment services company reported $3.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.47 by $0.17. The company had revenue of $16.97 billion for the quarter, compared to analysts' expectations of $17.04 billion. American Express had a return on equity of 32.48% and a net margin of 15.31%. During the same period last year, the business posted $3.33 earnings per share. As a group, equities analysts predict that American Express will post 15.33 earnings per share for the current fiscal year.

American Express Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be paid a $0.82 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $3.28 dividend on an annualized basis and a yield of 1.03%. American Express's payout ratio is presently 22.91%.

Insider Activity at American Express

In other news, insider Howard Grosfield sold 9,450 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $275.50, for a total value of $2,603,475.00. Following the completion of the sale, the insider directly owned 9,402 shares of the company's stock, valued at approximately $2,590,251. This represents a 50.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Glenda G. Mcneal sold 3,019 shares of the firm's stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $264.66, for a total value of $799,008.54. Following the completion of the sale, the insider owned 10,919 shares of the company's stock, valued at $2,889,822.54. This represents a 21.66% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On American Express

Hedge funds have recently made changes to their positions in the business. Capital Asset Advisory Services LLC boosted its holdings in American Express by 2.8% in the second quarter. Capital Asset Advisory Services LLC now owns 1,191 shares of the payment services company's stock worth $384,000 after acquiring an additional 32 shares in the last quarter. DLK Investment Management LLC lifted its stake in American Express by 3.8% during the 2nd quarter. DLK Investment Management LLC now owns 869 shares of the payment services company's stock valued at $277,000 after acquiring an additional 32 shares during the period. Trillium Asset Management LLC boosted its holdings in shares of American Express by 1.4% during the 4th quarter. Trillium Asset Management LLC now owns 2,449 shares of the payment services company's stock valued at $727,000 after acquiring an additional 35 shares during the last quarter. Zions Bancorporation N.A. boosted its stake in shares of American Express by 2.4% in the 4th quarter. Zions Bancorporation N.A. now owns 1,510 shares of the payment services company's stock worth $448,000 after buying an additional 35 shares during the last quarter. Finally, Financial Engines Advisors L.L.C. lifted its holdings in American Express by 4.7% in the first quarter. Financial Engines Advisors L.L.C. now owns 772 shares of the payment services company's stock valued at $208,000 after acquiring an additional 35 shares during the period. Institutional investors and hedge funds own 84.33% of the company's stock.

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.