Truist Financial Issues Positive Forecast for American Express (NYSE:AXP) Stock Price

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

Other research analysts also recently issued reports about the stock. BTIG Research decreased their target price on shares of American Express from $272.00 to $240.00 and set a "sell" rating for the company in a research note on Monday, April 21st. Citigroup reiterated a "neutral" rating and set a $327.00 price objective (up from $300.00) on shares of American Express in a research note on Wednesday, July 2nd. Monness Crespi & Hardt increased their price objective on shares of American Express from $275.00 to $285.00 and gave the company a "buy" rating in a research note on Monday, April 21st. Redburn Atlantic upgraded shares of American Express from a "sell" rating to a "neutral" rating and reduced their price objective for the company from $270.00 to $255.00 in a research note on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. increased their price objective on shares of American Express from $244.00 to $260.00 and gave the company a "neutral" rating in a research note on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $305.74.

American Express Stock Down 1.8%

Shares of AXP stock traded down $5.75 on Wednesday, hitting $319.49. The stock had a trading volume of 2,090,080 shares, compared to its average volume of 2,847,673. The firm has a market capitalization of $223.83 billion, a price-to-earnings ratio of 22.31, a P/E/G ratio of 1.58 and a beta of 1.25. The stock's 50 day moving average is $300.79 and its 200-day moving average is $290.68. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58. American Express has a 52-week low of $220.43 and a 52-week high of $329.14.

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

American Express Announces Dividend

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

Insider Activity

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

Hedge Funds Weigh In On American Express

Large investors have recently bought and sold shares of the stock. Capital Asset Advisory Services LLC grew its stake in shares of American Express by 2.8% in the 2nd quarter. Capital Asset Advisory Services LLC now owns 1,191 shares of the payment services company's stock worth $384,000 after purchasing an additional 32 shares during the last quarter. DLK Investment Management LLC grew its stake in shares of American Express by 3.8% in the 2nd quarter. DLK Investment Management LLC now owns 869 shares of the payment services company's stock worth $277,000 after purchasing an additional 32 shares during the last quarter. Trillium Asset Management LLC grew its stake in shares of American Express by 1.4% in the 4th quarter. Trillium Asset Management LLC now owns 2,449 shares of the payment services company's stock worth $727,000 after purchasing an additional 35 shares during the last quarter. Zions Bancorporation N.A. grew 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 purchasing an additional 35 shares during the last quarter. Finally, Financial Engines Advisors L.L.C. grew its stake in shares of American Express by 4.7% in the 1st quarter. Financial Engines Advisors L.L.C. now owns 772 shares of the payment services company's stock worth $208,000 after purchasing an additional 35 shares during 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.