American Express (NYSE:AXP) Given New $343.00 Price Target at Truist Financial

American Express (NYSE:AXP) had its price objective reduced by Truist Financial from $350.00 to $343.00 in a report released on Friday,Benzinga reports. They currently have a buy rating on the payment services company’s stock.

Several other analysts also recently commented on the company. Morgan Stanley increased their target price on American Express from $305.00 to $310.00 and gave the company an “equal weight” rating in a research note on Monday, January 27th. Wells Fargo & Company lifted their price target on shares of American Express from $355.00 to $370.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Monness Crespi & Hardt increased their price objective on shares of American Express from $330.00 to $355.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Citigroup decreased their target price on shares of American Express from $320.00 to $300.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. Finally, The Goldman Sachs Group dropped their price target on American Express from $367.00 to $330.00 and set a “buy” rating on the stock in a research note on Tuesday, March 18th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $302.24.

American Express Price Performance

AXP opened at $233.50 on Friday. The firm has a market cap of $164.04 billion, a PE ratio of 16.67, a P/E/G ratio of 1.41 and a beta of 1.16. The stock has a 50-day moving average price of $288.96 and a 200-day moving average price of $289.28. 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.

American Express (NYSE:AXP) last issued its earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share (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%. Sell-side analysts predict that American Express will post 15.33 earnings per share for the current fiscal year.

American Express Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 4th will be paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 1.40%. This is a boost from American Express’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, April 4th. American Express’s dividend payout ratio (DPR) is presently 23.41%.

Insiders Place Their Bets

In other American Express news, insider Raymond Joabar sold 15,179 shares of the stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $313.94, for a total transaction of $4,765,295.26. Following the completion of the transaction, the insider now owns 23,866 shares in the company, valued at $7,492,492.04. This trade represents a 38.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael J. Angelakis bought 3,700 shares of American Express stock in a transaction dated Friday, March 7th. The stock was acquired at an average price of $269.89 per share, for a total transaction of $998,593.00. Following the completion of the acquisition, the director now owns 3,700 shares in the company, valued at approximately $998,593. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Investment Management Corp VA ADV bought a new stake in American Express in the fourth quarter worth $29,000. Sellwood Investment Partners LLC purchased a new stake in shares of American Express in the fourth quarter worth approximately $33,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of American Express during the 4th quarter worth approximately $33,000. Curio Wealth LLC purchased a new position in American Express during the 4th quarter valued at $37,000. Finally, Financial Life Planners bought a new position in American Express in the 4th quarter valued at $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.