American Express (NYSE:AXP) PT Raised to $300.00

American Express (NYSE:AXP) had its target price upped by The Goldman Sachs Group from $270.00 to $300.00 in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has a buy rating on the payment services company’s stock.

A number of other research analysts have also recently commented on AXP. Bank of America increased their price target on American Express from $263.00 to $265.00 and gave the company a neutral rating in a research note on Tuesday, September 17th. Keefe, Bruyette & Woods increased their price objective on American Express from $265.00 to $280.00 and gave the company an outperform rating in a report on Monday, July 8th. Wells Fargo & Company increased their price objective on American Express from $285.00 to $300.00 and gave the company an overweight rating in a report on Monday, September 30th. Compass Point initiated coverage on American Express in a report on Tuesday, July 16th. They issued a neutral rating and a $260.00 price objective for the company. Finally, Jefferies Financial Group increased their price objective on American Express from $225.00 to $235.00 and gave the company a hold rating in a report on Tuesday, July 9th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $239.96.

American Express Stock Down 0.4 %

Shares of AXP opened at $270.46 on Monday. American Express has a 52 week low of $140.91 and a 52 week high of $276.79. The stock has a market capitalization of $194.54 billion, a price-to-earnings ratio of 22.28, a PEG ratio of 1.48 and a beta of 1.21. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66. The stock has a fifty day moving average of $255.13 and a 200-day moving average of $241.40.

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

American Express Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 4th will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, October 4th. This represents a $2.80 annualized dividend and a dividend yield of 1.04%. American Express’s payout ratio is currently 23.06%.

Institutional Investors Weigh In On American Express

Several large investors have recently modified their holdings of AXP. Scarborough Advisors LLC purchased a new stake in shares of American Express during the 4th quarter worth approximately $25,000. Game Plan Financial Advisors LLC grew its stake in American Express by 62.5% in the 1st quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock valued at $30,000 after buying an additional 50 shares in the last quarter. Creekmur Asset Management LLC purchased a new position in American Express in the 4th quarter valued at approximately $32,000. Transcendent Capital Group LLC purchased a new position in American Express in the 4th quarter valued at approximately $37,000. Finally, Riverview Trust Co purchased a new position in American Express in the 1st quarter valued at approximately $38,000. Hedge funds and other 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.