Wells Fargo & Company Increases American Express (NYSE:AXP) Price Target to $300.00

American Express (NYSE:AXP) had its price target boosted by stock analysts at Wells Fargo & Company from $285.00 to $300.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the payment services company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 11.72% from the company’s previous close.

Several other brokerages have also recently issued reports on AXP. Citigroup assumed coverage on shares of American Express in a research report on Monday, June 10th. They set a “neutral” rating and a $250.00 target price on the stock. Jefferies Financial Group raised their price objective on American Express from $225.00 to $235.00 and gave the company a “hold” rating in a research note on Tuesday, July 9th. Barclays increased their price target on American Express from $221.00 to $223.00 and gave the company an “equal weight” rating in a report on Tuesday, July 9th. William Blair restated an “outperform” rating on shares of American Express in a report on Monday, June 3rd. Finally, Bank of America increased their price target on American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $231.43.

American Express Trading Down 1.0 %

Shares of American Express stock opened at $268.53 on Monday. American Express has a twelve month low of $140.91 and a twelve month high of $272.68. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74. The business has a 50-day moving average price of $252.14 and a 200-day moving average price of $239.55. The firm has a market cap of $193.15 billion, a price-to-earnings ratio of 22.12, a PEG ratio of 1.48 and a beta of 1.21.

American Express (NYSE:AXP) last released its quarterly earnings data on Friday, July 19th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $16.60 billion. During the same quarter in the previous year, the company posted $2.89 EPS. The company’s revenue was up 9.2% compared to the same quarter last year. Equities research analysts anticipate that American Express will post 13.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in AXP. Scarborough Advisors LLC acquired a new position in American Express during the 4th quarter valued at about $25,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of American Express in the fourth quarter valued at about $29,000. Game Plan Financial Advisors LLC increased its holdings in shares of American Express by 62.5% in the first quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock valued at $30,000 after purchasing an additional 50 shares during the period. Creekmur Asset Management LLC acquired a new position in shares of American Express in the fourth quarter valued at about $32,000. Finally, Transcendent Capital Group LLC acquired a new position in shares of American Express in the fourth quarter valued at about $37,000. 84.33% of the stock is owned by institutional investors.

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.