American Express (NYSE:AXP) Price Target Increased to $280.00 by Analysts at Keefe, Bruyette & Woods

American Express (NYSE:AXP) had its price objective raised by Keefe, Bruyette & Woods from $265.00 to $280.00 in a research note published on Monday, Marketbeat Ratings reports. Keefe, Bruyette & Woods currently has an outperform rating on the payment services company’s stock.

A number of other equities research analysts also recently weighed in on AXP. Wells Fargo & Company lifted their target price on American Express from $265.00 to $275.00 and gave the stock an overweight rating in a research report on Tuesday, June 4th. JPMorgan Chase & Co. lifted their price objective on American Express from $214.00 to $240.00 and gave the stock an overweight rating in a report on Wednesday, April 3rd. Citigroup initiated coverage on American Express in a research note on Monday, June 10th. They issued a neutral rating and a $250.00 target price for the company. BTIG Research began coverage on shares of American Express in a research note on Friday, June 7th. They set a neutral rating on the stock. Finally, William Blair restated an outperform rating on shares of American Express in a research note on Monday, June 3rd. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $225.50.

Check Out Our Latest Report on American Express

American Express Trading Up 0.5 %

Shares of NYSE AXP opened at $238.94 on Monday. The business has a 50 day simple moving average of $234.68 and a 200 day simple moving average of $219.14. American Express has a 52 week low of $140.91 and a 52 week high of $244.41. The stock has a market cap of $171.87 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 1.34 and a beta of 1.21. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.62 and a current ratio of 1.62.

American Express (NYSE:AXPGet Free Report) last issued its quarterly earnings data on Friday, April 19th. The payment services company reported $3.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.36. American Express had a net margin of 14.50% and a return on equity of 32.46%. The business had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $15.79 billion. During the same period in the previous year, the company earned $2.40 earnings per share. American Express’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, research analysts predict that American Express will post 12.98 earnings per share for the current fiscal year.

American Express Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be paid a $0.70 dividend. This is an increase from American Express’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.80 annualized dividend and a dividend yield of 1.17%. American Express’s dividend payout ratio (DPR) is currently 23.06%.

Insider Activity

In related news, insider Anna Marrs sold 3,592 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $230.93, for a total transaction of $829,500.56. Following the completion of the transaction, the insider now directly owns 19,932 shares in the company, valued at $4,602,896.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Anna Marrs sold 3,592 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $230.93, for a total value of $829,500.56. Following the completion of the transaction, the insider now owns 19,932 shares of the company’s stock, valued at $4,602,896.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jennifer Skyler sold 14,802 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $241.73, for a total value of $3,578,087.46. Following the sale, the insider now owns 16,371 shares in the company, valued at approximately $3,957,361.83. The disclosure for this sale can be found here. Insiders have sold a total of 177,717 shares of company stock worth $41,680,999 over the last three months. Corporate insiders own 0.11% of the company’s stock.

Institutional Trading of American Express

Hedge funds have recently modified their holdings of the stock. Spire Wealth Management increased its stake in shares of American Express by 1.0% during the first quarter. Spire Wealth Management now owns 4,315 shares of the payment services company’s stock worth $983,000 after purchasing an additional 42 shares during the period. HTLF Bank increased its position in American Express by 0.8% during the first quarter. HTLF Bank now owns 6,202 shares of the payment services company’s stock worth $1,412,000 after acquiring an additional 47 shares during the period. CIC Wealth LLC raised its stake in American Express by 3.2% in the 1st quarter. CIC Wealth LLC now owns 1,518 shares of the payment services company’s stock worth $346,000 after purchasing an additional 47 shares in the last quarter. Aspiriant LLC increased its holdings in shares of American Express by 0.8% during the first quarter. Aspiriant LLC now owns 6,330 shares of the payment services company’s stock worth $1,441,000 after purchasing an additional 48 shares during the period. Finally, Hexagon Capital Partners LLC grew its position in American Express by 3.4% during the fourth quarter. Hexagon Capital Partners LLC now owns 1,490 shares of the payment services company’s stock worth $279,000 after buying an additional 49 shares in the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

About American Express

(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.

Further Reading

Analyst Recommendations for American Express (NYSE:AXP)

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