American Express (NYSE:AXP) Given New $370.00 Price Target at Wells Fargo & Company

American Express (NYSE:AXP) had its price target increased by Wells Fargo & Company from $355.00 to $370.00 in a research report released on Friday morning,Benzinga reports. The firm currently has an overweight rating on the payment services company’s stock.

A number of other analysts have also recently issued reports on AXP. Truist Financial began coverage on American Express in a research report on Tuesday, January 7th. They issued a “buy” rating and a $350.00 price objective for the company. TD Cowen lifted their price objective on shares of American Express from $260.00 to $268.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Barclays increased their price objective on shares of American Express from $250.00 to $257.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Monness Crespi & Hardt lifted their target price on shares of American Express from $330.00 to $355.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, Royal Bank of Canada increased their price target on shares of American Express from $330.00 to $350.00 and gave the company an “outperform” rating in a report on Monday, January 27th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $296.38.

American Express Price Performance

Shares of AXP opened at $317.12 on Friday. The company has a current ratio of 1.67, a quick ratio of 1.63 and a debt-to-equity ratio of 1.64. The company’s fifty day simple moving average is $304.98 and its 200 day simple moving average is $277.34. American Express has a 1-year low of $199.88 and a 1-year high of $326.27. The company has a market cap of $223.40 billion, a price-to-earnings ratio of 22.64, a PEG ratio of 1.48 and a beta of 1.23.

American Express (NYSE:AXP) last released its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 earnings per share 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%. On average, research analysts forecast that American Express will post 15.3 earnings per share for the current fiscal year.

American Express Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Friday, January 3rd. American Express’s dividend payout ratio (DPR) is presently 19.99%.

Insider Buying and Selling

In related news, insider Raymond Joabar sold 15,179 shares of the firm’s 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Caillec Christophe Le sold 6,000 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $303.48, for a total value of $1,820,880.00. Following the transaction, the chief financial officer now directly owns 6,433 shares of the company’s stock, valued at approximately $1,952,286.84. The trade was a 48.26 % decrease in their position. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by company insiders.

Institutional Trading of American Express

Hedge funds and other institutional investors have recently modified their holdings of the stock. Prospera Private Wealth LLC acquired a new stake in shares of American Express during the 3rd quarter valued at $27,000. Kennebec Savings Bank bought a new position in American Express in the third quarter valued at about $29,000. True Wealth Design LLC boosted its stake in shares of American Express by 332.0% during the third quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock valued at $29,000 after purchasing an additional 83 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of American Express in the third quarter valued at approximately $38,000. Finally, Financial Life Planners bought a new position in American Express in the 4th quarter valued at approximately $38,000. 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.