JPMorgan Chase & Co. Raises American Express (NYSE:AXP) Price Target to $240.00

American Express (NYSE:AXP) had its price target lifted by analysts at JPMorgan Chase & Co. from $214.00 to $240.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the payment services company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 6.39% from the company’s previous close.

Several other research firms have also commented on AXP. BMO Capital Markets raised their price target on American Express from $157.00 to $159.00 and gave the stock an “underperform” rating in a research report on Monday, January 29th. Stephens upgraded American Express from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $148.00 to $193.00 in a research report on Tuesday, January 2nd. Royal Bank of Canada raised their price target on American Express from $220.00 to $226.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Deutsche Bank Aktiengesellschaft started coverage on American Express in a research report on Wednesday, January 10th. They set a “buy” rating and a $235.00 price target for the company. Finally, Evercore ISI raised their price target on American Express from $229.00 to $243.00 and gave the stock an “in-line” rating in a research report on Thursday, March 28th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, American Express presently has an average rating of “Hold” and an average price target of $193.68.

Read Our Latest Research Report on AXP

American Express Price Performance

Shares of American Express stock opened at $225.58 on Wednesday. American Express has a 12 month low of $140.91 and a 12 month high of $231.69. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.63 and a quick ratio of 1.63. The stock has a market capitalization of $163.29 billion, a P/E ratio of 20.12, a PEG ratio of 1.28 and a beta of 1.23. The business has a 50 day simple moving average of $215.35 and a two-hundred day simple moving average of $182.67.

American Express (NYSE:AXPGet Free Report) last posted its quarterly earnings results on Friday, January 26th. The payment services company reported $2.62 EPS for the quarter, missing the consensus estimate of $2.64 by ($0.02). American Express had a net margin of 13.84% and a return on equity of 30.99%. The company had revenue of $15.80 billion during the quarter, compared to analyst estimates of $16 billion. During the same period in the prior year, the business posted $2.07 EPS. American Express’s revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, analysts predict that American Express will post 12.83 EPS for the current fiscal year.

Insider Transactions at American Express

In other news, CEO Stephen J. Squeri sold 69,356 shares of American Express stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $213.02, for a total transaction of $14,774,215.12. Following the sale, the chief executive officer now owns 122,158 shares in the company, valued at $26,022,097.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Stephen J. Squeri sold 69,356 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $213.02, for a total value of $14,774,215.12. Following the transaction, the chief executive officer now owns 122,158 shares in the company, valued at approximately $26,022,097.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Laureen Seeger sold 84,420 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $212.98, for a total value of $17,979,771.60. Following the completion of the transaction, the insider now owns 57,512 shares in the company, valued at approximately $12,248,905.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 172,047 shares of company stock worth $36,528,388. Corporate insiders own 0.11% of the company’s stock.

Institutional Investors Weigh In On American Express

Institutional investors have recently added to or reduced their stakes in the business. Bison Wealth LLC boosted its holdings in American Express by 2.1% in the 2nd quarter. Bison Wealth LLC now owns 20,444 shares of the payment services company’s stock valued at $3,561,000 after purchasing an additional 416 shares in the last quarter. National Bank of Canada FI boosted its stake in shares of American Express by 25.0% during the 3rd quarter. National Bank of Canada FI now owns 499,340 shares of the payment services company’s stock worth $74,584,000 after acquiring an additional 99,813 shares in the last quarter. Beutel Goodman & Co Ltd. boosted its stake in shares of American Express by 7.6% during the 2nd quarter. Beutel Goodman & Co Ltd. now owns 1,785,141 shares of the payment services company’s stock worth $310,971,000 after acquiring an additional 125,990 shares in the last quarter. GYL Financial Synergies LLC boosted its stake in shares of American Express by 1.0% during the 3rd quarter. GYL Financial Synergies LLC now owns 23,987 shares of the payment services company’s stock worth $3,579,000 after acquiring an additional 242 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of American Express by 6.9% during the 4th quarter. Nordea Investment Management AB now owns 1,574,663 shares of the payment services company’s stock worth $294,856,000 after acquiring an additional 102,132 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Company Profile

(Get Free Report)

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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