JPMorgan Chase & Co. Issues Positive Forecast for American Express (NYSE:AXP) Stock Price

American Express (NYSE:AXP) had its price objective upped by research analysts at JPMorgan Chase & Co. from $244.00 to $260.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the payment services company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 2.89% from the stock’s previous close.

Several other research analysts have also commented on the company. HSBC lifted their price target on American Express from $270.00 to $294.00 and gave the stock a “hold” rating in a report on Friday, January 24th. Truist Financial lowered their price objective on American Express from $350.00 to $343.00 and set a “buy” rating for the company in a research report on Friday, April 4th. Baird R W raised American Express from a “strong sell” rating to a “hold” rating in a research note on Friday, March 14th. BTIG Research increased their price target on American Express from $266.00 to $270.00 and gave the stock a “sell” rating in a report on Friday, January 24th. Finally, Morgan Stanley boosted their price objective on shares of American Express from $305.00 to $310.00 and gave the company an “equal weight” rating in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, American Express currently has an average rating of “Hold” and an average price target of $297.16.

American Express Stock Performance

AXP opened at $252.69 on Monday. American Express has a twelve month low of $220.43 and a twelve month high of $326.28. The firm has a market capitalization of $177.52 billion, a PE ratio of 18.04, a PEG ratio of 1.41 and a beta of 1.16. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. The firm’s 50-day moving average price is $270.50 and its 200 day moving average price is $287.37.

American Express (NYSE:AXP) last issued its earnings results on Thursday, April 17th. The payment services company reported $3.64 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.17. American Express had a return on equity of 32.65% and a net margin of 15.36%. The business had revenue of $16.97 billion for the quarter, compared to analysts’ expectations of $17.04 billion. During the same period in the previous year, the firm posted $3.33 EPS. As a group, sell-side analysts expect that American Express will post 15.33 EPS for the current fiscal year.

Insider Buying and Selling at American Express

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

Institutional Investors Weigh In On American Express

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank purchased a new position in American Express in the fourth quarter valued at approximately $1,785,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of American Express by 463.3% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,357,487 shares of the payment services company’s stock valued at $1,293,259,000 after buying an additional 3,583,959 shares during the last quarter. GAMMA Investing LLC grew its position in shares of American Express by 27,625.2% in the 1st quarter. GAMMA Investing LLC now owns 2,162,846 shares of the payment services company’s stock valued at $581,914,000 after buying an additional 2,155,045 shares during the last quarter. Capital Research Global Investors raised its stake in American Express by 186.3% during the 4th quarter. Capital Research Global Investors now owns 2,986,710 shares of the payment services company’s stock worth $886,426,000 after acquiring an additional 1,943,463 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC lifted its position in American Express by 346.2% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,021,873 shares of the payment services company’s stock valued at $600,072,000 after acquiring an additional 1,568,747 shares during the last quarter. Institutional investors and hedge funds 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.