American Express (NYSE:AXP) Price Target Cut to $325.00 by Analysts at Bank of America

American Express (NYSE:AXP) had its price objective reduced by Bank of America from $326.00 to $325.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the payment services company’s stock. Bank of America‘s target price indicates a potential upside of 22.94% from the company’s current price.

AXP has been the subject of several other research reports. Keefe, Bruyette & Woods increased their price objective on American Express from $350.00 to $360.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. HSBC increased their price target on shares of American Express from $270.00 to $294.00 and gave the stock a “hold” rating in a report on Friday, January 24th. Monness Crespi & Hardt boosted their price objective on shares of American Express from $330.00 to $355.00 and gave the company a “buy” rating in a research note on Monday, January 27th. William Blair reiterated an “outperform” rating on shares of American Express in a research note on Monday, January 27th. Finally, Truist Financial started coverage on shares of American Express in a research report on Tuesday, January 7th. They set a “buy” rating and a $350.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $302.10.

American Express Stock Down 0.5 %

Shares of NYSE:AXP opened at $264.36 on Tuesday. The company has a market capitalization of $185.72 billion, a PE ratio of 18.87, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21. American Express has a 1 year low of $214.51 and a 1 year high of $326.28. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57. The business has a fifty day moving average price of $300.85 and a two-hundred day moving average price of $288.45.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 EPS for the quarter, topping the consensus estimate of $3.00 by $0.04. American Express had a net margin of 15.36% and a return on equity of 32.65%. Analysts forecast that American Express will post 15.33 earnings per share for the current year.

Insider Activity at American Express

In related news, insider Raymond Joabar sold 15,179 shares of the company’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $313.94, for a total value of $4,765,295.26. Following the sale, the insider now directly owns 23,866 shares of the company’s stock, valued at $7,492,492.04. This represents a 38.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael J. Angelakis acquired 3,700 shares of the stock in a transaction on Friday, March 7th. The shares were purchased at an average cost of $269.89 per share, with a total value of $998,593.00. Following the transaction, the director now directly owns 3,700 shares of the company’s stock, valued at approximately $998,593. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.12% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its holdings in American Express by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 11,752,084 shares of the payment services company’s stock worth $3,484,312,000 after acquiring an additional 268,572 shares during the last quarter. FMR LLC raised its stake in shares of American Express by 8.5% in the third quarter. FMR LLC now owns 11,003,715 shares of the payment services company’s stock worth $2,984,208,000 after purchasing an additional 866,110 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of American Express by 1.1% in the fourth quarter. Fisher Asset Management LLC now owns 8,761,336 shares of the payment services company’s stock worth $2,600,277,000 after purchasing an additional 95,927 shares during the last quarter. Northern Trust Corp boosted its position in shares of American Express by 16.3% during the fourth quarter. Northern Trust Corp now owns 6,825,135 shares of the payment services company’s stock valued at $2,025,632,000 after buying an additional 955,811 shares during the last quarter. Finally, Norges Bank bought a new stake in American Express in the 4th quarter worth about $1,785,867,000. Institutional investors own 84.33% of the company’s stock.

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.