American Express (NYSE:AXP) Given New $350.00 Price Target at Royal Bank of Canada

American Express (NYSE:AXP) had its price objective raised by stock analysts at Royal Bank of Canada from $330.00 to $350.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the payment services company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 10.33% from the company’s current price.

Other equities analysts have also issued research reports about the stock. JPMorgan Chase & Co. boosted their target price on shares of American Express from $301.00 to $307.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods upped their price objective on shares of American Express from $350.00 to $360.00 and gave the company an “outperform” rating in a research report on Monday. Evercore ISI upped their price target on American Express from $315.00 to $344.00 and gave the company an “in-line” rating in a report on Monday. TD Cowen lifted their price objective on American Express from $260.00 to $268.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Finally, Hsbc Global Res cut American Express from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $291.50.

American Express Stock Performance

Shares of AXP opened at $317.24 on Monday. The company has a market capitalization of $223.48 billion, a PE ratio of 23.34, a price-to-earnings-growth ratio of 1.51 and a beta of 1.23. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.63 and a quick ratio of 1.63. American Express has a one year low of $199.07 and a one year high of $326.27. The company’s fifty day moving average price is $302.97 and its 200 day moving average price is $275.72.

American Express (NYSE:AXP) last posted 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 return on equity of 32.46% and a net margin of 15.32%. As a group, analysts expect that American Express will post 13.4 earnings per share for the current year.

Insider Buying and Selling at American Express

In related news, CFO Caillec Christophe Le sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $303.48, for a total value of $1,820,880.00. Following the completion of the transaction, the chief financial officer now owns 6,433 shares in the company, valued at $1,952,286.84. The trade was a 48.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.12% of the company’s stock.

Institutional Investors Weigh In On American Express

Hedge funds and other institutional investors have recently made changes to their positions in the company. Canvas Wealth Advisors LLC bought a new position in American Express in the fourth quarter valued at about $210,000. Angeles Wealth Management LLC lifted its position in American Express by 5.4% during the 4th quarter. Angeles Wealth Management LLC now owns 2,040 shares of the payment services company’s stock valued at $605,000 after purchasing an additional 105 shares during the period. Wealthstar Advisors LLC acquired a new stake in shares of American Express during the 4th quarter worth approximately $309,000. Newbridge Financial Services Group Inc. bought a new stake in shares of American Express during the fourth quarter worth approximately $832,000. Finally, Quotient Wealth Partners LLC lifted its holdings in American Express by 16.1% in the fourth quarter. Quotient Wealth Partners LLC now owns 2,364 shares of the payment services company’s stock valued at $702,000 after buying an additional 327 shares during the period. 84.33% of the stock is owned by institutional investors and hedge funds.

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.