American Express (NYSE:AXP) had its price objective upped by equities research analysts at Royal Bank of Canada from $330.00 to $350.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the payment services company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 10.33% from the stock’s previous close.
A number of other analysts have also weighed in on the stock. William Blair reaffirmed an “outperform” rating on shares of American Express in a research note on Monday. BTIG Research upped their target price on American Express from $266.00 to $270.00 and gave the stock a “sell” rating in a research report on Friday, January 24th. Truist Financial started coverage on American Express in a research report on Tuesday, January 7th. They set a “buy” rating and a $350.00 price target on the stock. Evercore ISI upped their price objective on American Express from $315.00 to $344.00 and gave the company an “in-line” rating in a report on Monday. Finally, TD Cowen lifted their target price on American Express from $260.00 to $268.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $291.50.
Check Out Our Latest Report on American Express
American Express Stock Performance
American Express (NYSE:AXP – Get Free Report) last released its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.00 by $0.04. American Express had a return on equity of 32.46% and a net margin of 15.32%. On average, equities research analysts forecast that American Express will post 13.4 EPS for the current year.
Insider Activity at American Express
In other American Express news, CFO Caillec Christophe Le sold 6,000 shares of American Express stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $303.48, for a total transaction of $1,820,880.00. Following the completion of the sale, the chief financial officer now owns 6,433 shares of the company’s stock, valued at $1,952,286.84. This trade represents a 48.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.12% of the stock is currently owned by insiders.
Institutional Trading of American Express
Hedge funds and other institutional investors have recently modified their holdings of the company. Prospera Private Wealth LLC acquired a new stake in American Express in the third quarter valued at approximately $27,000. Kennebec Savings Bank bought a new position in shares of American Express during the 3rd quarter valued at $29,000. True Wealth Design LLC lifted its stake in shares of American Express by 332.0% in the 3rd quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock valued at $29,000 after purchasing an additional 83 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in American Express in the third quarter worth $38,000. Finally, Financial Life Planners acquired a new position in American Express during the fourth quarter worth $38,000. 84.33% of the stock is currently owned by hedge funds and other institutional investors.
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.
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