TD Cowen Increases American Express (NYSE:AXP) Price Target to $375.00

American Express (NYSE:AXP) had its price target raised by stock analysts at TD Cowen from $350.00 to $375.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “hold” rating on the payment services company’s stock. TD Cowen’s target price indicates a potential downside of 2.49% from the stock’s current price.

Several other analysts have also recently weighed in on the company. DZ Bank raised American Express from a “sell” rating to a “hold” rating and set a $340.00 price objective for the company in a report on Tuesday, October 21st. UBS Group lifted their price target on shares of American Express from $330.00 to $340.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Compass Point restated a “neutral” rating and issued a $324.00 price objective on shares of American Express in a report on Monday, October 20th. JPMorgan Chase & Co. raised their price objective on shares of American Express from $343.00 to $355.00 and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Finally, Wolfe Research began coverage on shares of American Express in a research report on Monday, December 8th. They set a “peer perform” rating for the company. Nine equities research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, American Express has an average rating of “Hold” and an average target price of $343.95.

American Express Trading Up 1.7%

NYSE:AXP traded up $6.37 during trading hours on Thursday, hitting $384.59. 757,119 shares of the stock were exchanged, compared to its average volume of 1,967,781. The company has a market capitalization of $264.93 billion, a P/E ratio of 25.82, a price-to-earnings-growth ratio of 1.60 and a beta of 1.15. The company has a quick ratio of 1.59, a current ratio of 1.61 and a debt-to-equity ratio of 1.78. The company’s 50 day moving average is $368.27 and its two-hundred day moving average is $338.61. American Express has a twelve month low of $220.43 and a twelve month high of $387.49.

American Express (NYSE:AXP) last released its earnings results on Friday, January 30th. The payment services company reported ($11.85) EPS for the quarter, missing the consensus estimate of $3.56 by ($15.41). American Express had a net margin of 14.97% and a return on equity of 33.41%. The firm had revenue of ($17,139.00) million during the quarter, compared to analyst estimates of $18.91 billion. On average, sell-side analysts anticipate that American Express will post 15.33 earnings per share for the current fiscal year.

Insider Transactions at American Express

In related news, CMO Elizabeth Rutledge sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $360.21, for a total value of $18,010,500.00. Following the completion of the transaction, the chief marketing officer directly owned 85,577 shares in the company, valued at approximately $30,825,691.17. The trade was a 36.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Douglas Tabish sold 2,515 shares of the stock in a transaction that occurred on Thursday, October 23rd. The stock was sold at an average price of $355.61, for a total value of $894,359.15. Following the sale, the insider directly owned 2,515 shares of the company’s stock, valued at approximately $894,359.15. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 57,515 shares of company stock valued at $20,658,509 over the last three months. 0.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Nordea Investment Management AB lifted its holdings in shares of American Express by 2.2% during the second quarter. Nordea Investment Management AB now owns 2,267,377 shares of the payment services company’s stock worth $721,525,000 after buying an additional 49,593 shares in the last quarter. Dempze Nancy E grew its stake in shares of American Express by 210.2% in the second quarter. Dempze Nancy E now owns 3,459 shares of the payment services company’s stock valued at $1,103,000 after acquiring an additional 2,344 shares in the last quarter. Reliant Investment Management LLC increased its position in American Express by 1.9% during the second quarter. Reliant Investment Management LLC now owns 26,189 shares of the payment services company’s stock worth $8,354,000 after acquiring an additional 480 shares during the period. SLT Holdings LLC increased its position in American Express by 31.3% during the second quarter. SLT Holdings LLC now owns 1,008 shares of the payment services company’s stock worth $322,000 after acquiring an additional 240 shares during the period. Finally, New York Life Investment Management LLC grew its position in shares of American Express by 0.9% during the 2nd quarter. New York Life Investment Management LLC now owns 82,883 shares of the payment services company’s stock worth $26,438,000 after purchasing an additional 764 shares in the last quarter. Institutional investors own 84.33% of the company’s stock.

American Express Company Profile

American Express is a global financial services company primarily known for its payment card products, travel services and merchant network. Founded in 1850 as an express mail business, the company evolved through the 20th century into a payments and travel-focused organization. Its core activities include issuing consumer and commercial charge and credit cards, operating a global card acceptance and processing network, and providing travel-related services and customer loyalty programs.

American Express issues a range of products for individuals, small businesses and large corporations, including personal cards, business and corporate cards, and co‑brand partnerships with airlines, hotels and retailers.