American Express (NYSE:AXP) Price Target Raised to $265.00 at Monness Crespi & Hardt

American Express (NYSE:AXP) had its price objective boosted by Monness Crespi & Hardt from $260.00 to $265.00 in a report issued on Monday morning, Marketbeat.com reports. Monness Crespi & Hardt currently has a buy rating on the payment services company’s stock.

A number of other research analysts have also issued reports on the company. BTIG Research began coverage on American Express in a report on Friday, June 7th. They issued a neutral rating for the company. Robert W. Baird lifted their target price on American Express from $190.00 to $205.00 and gave the company an underperform rating in a report on Wednesday, May 1st. Compass Point began coverage on American Express in a report on Tuesday, July 16th. They issued a neutral rating and a $260.00 target price for the company. William Blair reiterated an outperform rating on shares of American Express in a report on Monday, June 3rd. Finally, Wells Fargo & Company lifted their target price on American Express from $275.00 to $285.00 and gave the company an overweight rating in a report on Tuesday, July 9th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $230.70.

American Express Trading Down 0.3 %

AXP opened at $240.23 on Monday. American Express has a 52 week low of $140.91 and a 52 week high of $253.73. The business has a fifty day simple moving average of $236.13 and a 200-day simple moving average of $223.27. The firm has a market cap of $170.78 billion, a P/E ratio of 19.79, a P/E/G ratio of 1.38 and a beta of 1.21. The company has a quick ratio of 1.62, a current ratio of 1.66 and a debt-to-equity ratio of 1.74.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 EPS for the quarter, topping the consensus estimate of $3.26 by $0.23. American Express had a return on equity of 32.94% and a net margin of 15.53%. The business had revenue of $16.33 billion during the quarter, compared to analyst estimates of $16.60 billion. During the same period last year, the business posted $2.89 earnings per share. The company’s quarterly revenue was up 9.2% on a year-over-year basis. On average, equities analysts expect that American Express will post 13.16 earnings per share for the current year.

American Express Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.17%. The ex-dividend date is Friday, July 5th. This is a boost from American Express’s previous quarterly dividend of $0.10. American Express’s payout ratio is 23.06%.

Insider Activity at American Express

In related news, Vice Chairman Douglas E. Buckminster sold 117,309 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $232.44, for a total value of $27,267,303.96. Following the transaction, the insider now owns 110,318 shares in the company, valued at approximately $25,642,315.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Vice Chairman Douglas E. Buckminster sold 117,309 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $232.44, for a total value of $27,267,303.96. Following the transaction, the insider now owns 110,318 shares in the company, valued at approximately $25,642,315.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Anna Marrs sold 3,592 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $230.93, for a total value of $829,500.56. Following the completion of the transaction, the insider now owns 19,932 shares in the company, valued at approximately $4,602,896.76. The disclosure for this sale can be found here. Insiders have sold 138,844 shares of company stock worth $32,404,735 in the last quarter. Company insiders own 0.12% of the company’s stock.

Institutional Investors Weigh In On American Express

A number of institutional investors have recently added to or reduced their stakes in the business. Sawgrass Asset Management LLC boosted its holdings in American Express by 0.4% in the 2nd quarter. Sawgrass Asset Management LLC now owns 10,384 shares of the payment services company’s stock valued at $2,404,000 after purchasing an additional 41 shares in the last quarter. Spire Wealth Management boosted its holdings in American Express by 1.0% in the 1st quarter. Spire Wealth Management now owns 4,315 shares of the payment services company’s stock valued at $983,000 after purchasing an additional 42 shares in the last quarter. Ignite Planners LLC boosted its holdings in American Express by 0.9% in the 2nd quarter. Ignite Planners LLC now owns 4,682 shares of the payment services company’s stock valued at $1,103,000 after purchasing an additional 43 shares in the last quarter. Willner & Heller LLC boosted its stake in shares of American Express by 4.1% during the 2nd quarter. Willner & Heller LLC now owns 1,087 shares of the payment services company’s stock worth $252,000 after acquiring an additional 43 shares in the last quarter. Finally, Beacon Capital Management LLC boosted its stake in shares of American Express by 18.9% during the 2nd quarter. Beacon Capital Management LLC now owns 271 shares of the payment services company’s stock worth $63,000 after acquiring an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

About American Express

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.