Evercore ISI Raises American Express (NYSE:AXP) Price Target to $290.00

American Express (NYSE:AXP) had its price objective lifted by Evercore ISI from $275.00 to $290.00 in a research report sent to investors on Monday, Benzinga reports. They currently have an in-line rating on the payment services company’s stock.

Other analysts have also issued research reports about the company. Citigroup began coverage on American Express in a report on Monday, June 10th. They set a neutral rating and a $250.00 target price for the company. JPMorgan Chase & Co. downgraded American Express from an overweight rating to a neutral rating and raised their price objective for the company from $268.00 to $286.00 in a research report on Monday. Barclays boosted their target price on shares of American Express from $221.00 to $223.00 and gave the stock an equal weight rating in a report on Tuesday, July 9th. Wells Fargo & Company raised their price target on shares of American Express from $285.00 to $300.00 and gave the company an overweight rating in a report on Monday, September 30th. Finally, Monness Crespi & Hardt boosted their price objective on shares of American Express from $260.00 to $265.00 and gave the stock a buy rating in a research note on Monday, July 22nd. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $239.96.

American Express Price Performance

AXP opened at $271.48 on Monday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74. The business’s fifty day simple moving average is $254.76 and its 200-day simple moving average is $241.19. The company has a market capitalization of $195.28 billion, a price-to-earnings ratio of 22.36, a PEG ratio of 1.48 and a beta of 1.21. American Express has a 12-month low of $140.91 and a 12-month high of $276.79.

American Express (NYSE:AXP) last issued its earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.23. American Express had a net margin of 15.53% and a return on equity of 32.94%. The company had revenue of $16.33 billion for the quarter, compared to analysts’ expectations of $16.60 billion. During the same period in the prior year, the business earned $2.89 EPS. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. On average, equities research analysts anticipate that American Express will post 13.13 earnings per share for the current fiscal year.

American Express Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be issued a $0.70 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.80 annualized dividend and a yield of 1.03%. American Express’s dividend payout ratio (DPR) is presently 23.06%.

Institutional Trading of American Express

Several institutional investors and hedge funds have recently bought and sold shares of AXP. Alphinity Investment Management Pty Ltd purchased a new position in shares of American Express during the first quarter worth $433,709,000. Public Employees Retirement Association of Colorado raised its stake in shares of American Express by 924.2% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 851,431 shares of the payment services company’s stock valued at $197,149,000 after buying an additional 768,301 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of American Express by 8.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock valued at $1,923,399,000 after buying an additional 662,382 shares during the period. M&G Plc purchased a new stake in shares of American Express in the first quarter worth about $114,990,000. Finally, Canada Pension Plan Investment Board grew its holdings in American Express by 71.9% during the second quarter. Canada Pension Plan Investment Board now owns 1,164,098 shares of the payment services company’s stock worth $269,547,000 after acquiring an additional 486,755 shares during the period. 84.33% of the stock is currently owned by institutional investors and hedge funds.

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.