TD Cowen Issues Positive Forecast for American Express (NYSE:AXP) Stock Price

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

AXP has been the topic of several other research reports. Morgan Stanley set a $370.00 price objective on American Express in a research report on Tuesday, December 16th. Wall Street Zen downgraded shares of American Express from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. BTIG Research upped their price target on shares of American Express from $277.00 to $307.00 and gave the stock a “sell” rating in a research report on Friday, October 17th. Truist Financial lifted their price objective on shares of American Express from $395.00 to $420.00 and gave the company a “buy” rating in a research report on Monday, December 22nd. Finally, UBS Group boosted their target price on shares of American Express from $330.00 to $340.00 and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Nine analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, American Express currently has an average rating of “Hold” and a consensus target price of $343.95.

American Express Trading Up 1.7%

AXP traded up $6.37 on Thursday, reaching $384.59. 757,119 shares of the company’s stock were exchanged, compared to its average volume of 1,967,781. American Express has a twelve month low of $220.43 and a twelve month high of $387.49. The company’s 50 day moving average is $368.27 and its 200-day moving average is $338.61. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.59 and a current ratio of 1.61. The company has a market cap of $264.93 billion, a price-to-earnings ratio of 25.82, a PEG ratio of 1.60 and a beta of 1.15.

American Express (NYSE:AXP) last issued its earnings results on Friday, January 30th. The payment services company reported ($11.85) earnings per share for the quarter, missing the consensus estimate of $3.56 by ($15.41). The company had revenue of ($17,139.00) million during the quarter, compared to analysts’ expectations of $18.91 billion. American Express had a return on equity of 33.41% and a net margin of 14.97%. Equities analysts predict that American Express will post 15.33 earnings per share for the current year.

Insider Activity

In related news, insider Denise Pickett sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 22nd. The shares were sold at an average price of $350.73, for a total transaction of $1,753,650.00. Following the completion of the sale, the insider directly owned 7,726 shares in the company, valued at approximately $2,709,739.98. This trade represents a 39.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CMO Elizabeth Rutledge sold 50,000 shares of the stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $360.21, for a total transaction of $18,010,500.00. Following the completion of the sale, the chief marketing officer owned 85,577 shares of the company’s stock, valued at approximately $30,825,691.17. The trade was a 36.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 57,515 shares of company stock worth $20,658,509 over the last quarter. Corporate insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On American Express

A number of large investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC lifted its position in shares of American Express by 24.4% in the 4th quarter. Brighton Jones LLC now owns 6,481 shares of the payment services company’s stock worth $1,924,000 after acquiring an additional 1,273 shares during the period. Woodline Partners LP raised its stake in shares of American Express by 40.3% in the first quarter. Woodline Partners LP now owns 46,889 shares of the payment services company’s stock valued at $12,615,000 after purchasing an additional 13,468 shares in the last quarter. Advisory Alpha LLC lifted its position in American Express by 15.7% in the first quarter. Advisory Alpha LLC now owns 1,860 shares of the payment services company’s stock worth $501,000 after purchasing an additional 253 shares during the period. Integrity Alliance LLC. acquired a new stake in American Express during the first quarter worth $579,000. Finally, Flaharty Asset Management LLC acquired a new stake in American Express during the first quarter worth $56,000. 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.