American Express Upgraded by Robert W. Baird

American Express (NYSE:AXP) has received a positive update from the research team at Robert W. Baird. They have upgraded the company's stock rating from "underperform" to "neutral" in a report released on Friday. The firm has set a target price of $265.00 for American Express shares, which indicates a potential increase of approximately 3.39% based on the stock's previous closing price.

In addition to Baird's upgrade, various other financial analysts have also shared their insights on American Express. For instance, Wells Fargo & Company recently increased their target price from $355.00 to $370.00, rating the stock as "overweight." Moreover, BTIG Research adjusted their price target from $266.00 to $270.00, maintaining a "sell" rating. Royal Bank of Canada also revised their target, raising it from $330.00 to $350.00, and assigned an "outperform" rating on January 27th.

Additionally, Compass Point lowered its target price for American Express from $325.00 to $309.00, marking it as "neutral," while Citigroup raised its target from $305.00 to $320.00, also giving it a "neutral" rating. Currently, there are two analysts recommending a sell rating, fourteen maintaining a hold rating, and nine suggesting a buy rating. As per MarketBeat's data, American Express holds an average rating of "Hold," with a mean price target of $299.24.

Stock Performance Overview

As of Friday, American Express shares started trading at $256.31. The stock's fifty-day moving average stands at $302.33, whereas the 200-day moving average is at $287.88. Over the past year, shares have experienced a low of $214.51 and a high of $326.27. At present, American Express has a market capitalization of $180.07 billion, a price-to-earnings (PE) ratio of 18.29, and a price-to-earnings growth (P/E/G) ratio of 1.41. The company's debt-to-equity ratio is reported at 1.64, with quick and current ratios at 1.57 and 1.58 respectively.

American Express last released its quarterly earnings on January 24th, showcasing an earnings per share (EPS) of $3.04, which exceeded analysts' predictions of $3.00. The company boasts a net margin of 15.36% and a return on equity of 32.65%. Analysts are anticipating that American Express will report an EPS of 15.33 for the current fiscal year.

Insider Transactions

In related news, insider Raymond Joabar sold 15,179 shares of American Express stock on January 28th at an average price of $313.94, amounting to roughly $4.77 million. Post-sale, Joabar retains ownership of 23,866 shares, valued at approximately $7.49 million, which indicates a significant decrease of 38.88% in their holdings. This transaction has been disclosed in a filing with the SEC. Additionally, Director Michael J. Angelakis purchased 3,700 shares at an average price of $269.89, totaling about $998,593, increasing his holdings in the company significantly.

Institutional Investors' Actions

Several institutional investors are adjusting their positions in American Express. Nations Financial Group raised its holdings by 39.3%, currently owning 1,231 shares worth $334,000 after acquiring 347 additional shares. GSA Capital Partners increased their holdings by 4.2%, now owning 2,655 shares valued at $720,000 after adding 108 more shares. Similarly, Curi RMB Capital boosted their shares by 18.2%, owning 2,299 shares worth $623,000 after buying 354 extra shares. Notably, Ferguson Wellman Capital Management raised its share count by 0.8%, reaching 6,055 shares valued at $1.64 million. Lifeworks Advisors has also increased its holdings by about 2.8%. Currently, institutional investors and hedge funds collectively own 84.33% of American Express stock.

About American Express

American Express Company operates as a global payments technology company. Its services span across various geographical regions, including the United States, Europe, the Middle East, Africa, Asia Pacific, Australia, New Zealand, Latin America, Canada, and the Caribbean. The company operates through four main segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.

AmericanExpress, Stocks, Finance