American Express (NYSE:AXP) Price Target Raised to $375.00

Key Points

• Truist Financial raised its price target for American Express (NYSE:AXP) from $348.00 to $375.00, projecting a potential upside of 15.21% from the previous close.
• American Express recently reported quarterly earnings of $4.08 per share, surpassing estimates, with a year-over-year revenue increase of 9.3% to $17.86 billion.
• The stock currently has a consensus rating of "Hold," with 8 analysts rating it as a "Buy," 15 as "Hold," and 2 as "Sell," reflecting mixed sentiment among investors.

American Express (NYSE:AXP) had its price objective raised by analysts at Truist Financial from $348.00 to $375.00 in a report issued on Monday, MarketBeat reports. The brokerage currently has a "buy" rating on the payment services company's stock. Truist Financial's target price would indicate a potential upside of 9.37% from the company's current price.

Several other analysts also recently issued reports on the company. William Blair reiterated an "outperform" rating on shares of American Express in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. raised their price target on American Express from $260.00 to $342.00 and gave the company a "neutral" rating in a report on Friday, July 11th. Deutsche Bank Aktiengesellschaft raised their price target on American Express from $371.00 to $375.00 and gave the company a "buy" rating in a report on Monday, July 21st. DZ Bank lowered American Express from a "hold" rating to a "sell" rating in a research note on Monday, July 21st. Finally, Monness Crespi & Hardt lowered American Express from a "buy" rating to a "neutral" rating in a research report on Tuesday, July 15th. Eight analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, American Express currently has a consensus rating of "Hold" and a consensus price target of $315.20.

American Express Trading Up 0.4%

Shares of NYSE AXP traded up $1.21 during mid-day trading on Monday, hitting $342.88. 2,225,711 shares of the company traded hands, compared to its average volume of 2,872,516. American Express has a 1 year low of $220.43 and a 1 year high of $344.36. The stock has a market capitalization of $238.60 billion, a price-to-earnings ratio of 24.07, a PEG ratio of 1.78 and a beta of 1.28. 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 business has a 50 day moving average of $314.26 and a two-hundred day moving average of $292.94.

American Express (NYSE:AXP - Get Free Report) last posted its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.86 by $0.22. The firm had revenue of $17.86 billion for the quarter, compared to analyst estimates of $17.70 billion. American Express had a return on equity of 32.87% and a net margin of 14.78%.American Express's quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm earned $3.49 earnings per share. On average, sell-side analysts anticipate that American Express will post 15.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Glenda G. Mcneal sold 50,000 shares of American Express stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $309.50, for a total transaction of $15,475,000.00. Following the completion of the sale, the insider directly owned 10,957 shares in the company, valued at $3,391,191.50. The trade was a 82.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Laureen Seeger sold 16,998 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $294.83, for a total transaction of $5,011,520.34. Following the completion of the sale, the insider owned 9,001 shares of the company's stock, valued at approximately $2,653,764.83. The trade was a 65.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 269,996 shares of company stock valued at $85,261,270. Corporate insiders own 0.20% of the company's stock.

Hedge Funds Weigh In On American Express

Several institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. lifted its stake in American Express by 5.5% during the first quarter. Principal Financial Group Inc. now owns 680,308 shares of the payment services company's stock valued at $183,037,000 after buying an additional 35,295 shares in the last quarter. Pinnacle Financial Partners Inc lifted its position in American Express by 1.4% in the first quarter. Pinnacle Financial Partners Inc now owns 167,534 shares of the payment services company's stock worth $45,243,000 after purchasing an additional 2,259 shares during the period. R Squared Ltd bought a new position in shares of American Express during the first quarter valued at $509,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of American Express by 6.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,458 shares of the payment services company's stock valued at $25,088,000 after buying an additional 5,693 shares in the last quarter. Finally, Navis Wealth Advisors LLC increased its position in American Express by 368.7% in the first quarter. Navis Wealth Advisors LLC now owns 3,548 shares of the payment services company's stock worth $955,000 after purchasing an additional 2,791 shares during the period. 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.