American Express (NYSE:AXP) Stock Price Expected to Rise, Truist Financial Analyst Says

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

Other equities analysts have also recently issued research reports about the stock. William Blair restated an "outperform" rating on shares of American Express in a research report on Wednesday, July 2nd. Wells Fargo & Company set a $327.00 price objective on American Express in a research report on Wednesday, July 2nd. JPMorgan Chase & Co. upped their target price on American Express from $244.00 to $260.00 and gave the company a "neutral" rating in a research note on Monday, April 21st. Argus downgraded American Express from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 14th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $310.00 price target on shares of American Express in a report on Monday, April 21st. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $301.42.

American Express Price Performance

Shares of AXP traded up $7.91 on Wednesday, reaching $325.26. The stock had a trading volume of 1,342,805 shares, compared to its average volume of 2,838,527. American Express has a twelve month low of $220.43 and a twelve month high of $329.14. The firm has a market capitalization of $227.87 billion, a PE ratio of 22.71, a PEG ratio of 1.54 and a beta of 1.25. The firm has a 50-day moving average of $298.81 and a 200 day moving average of $290.38. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64.

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 for the quarter, beating the consensus estimate of $3.47 by $0.17. The company had revenue of $16.97 billion for the quarter, compared to analyst estimates of $17.04 billion. American Express had a return on equity of 32.48% and a net margin of 15.31%. During the same quarter in the prior year, the company earned $3.33 earnings per share. Sell-side analysts expect that American Express will post 15.33 EPS for the current year.

American Express Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.82 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.01%. American Express's payout ratio is 22.91%.

Insider Buying and Selling at American Express

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Investment Management Corp VA ADV bought a new position in American Express in the 4th quarter worth about $29,000. MorganRosel Wealth Management LLC acquired a new position in shares of American Express during the first quarter valued at $29,000. Sellwood Investment Partners LLC bought a new stake in shares of American Express during the 4th quarter worth about $33,000. Murphy & Mullick Capital Management Corp bought a new stake in American Express during the fourth quarter worth approximately $33,000. Finally, Nexus Investment Management ULC acquired a new stake in shares of American Express in the first quarter valued at $34,000. 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.