American Express (NYSE:AXP) Hits New 12-Month High at $262.68

American Express (NYSE:AXP)’s share price reached a new 52-week high on Monday . The stock traded as high as $262.68 and last traded at $261.17, with a volume of 193876 shares. The stock had previously closed at $259.00.

Analyst Ratings Changes

AXP has been the subject of several recent analyst reports. Jefferies Financial Group upped their target price on shares of American Express from $225.00 to $235.00 and gave the company a “hold” rating in a research note on Tuesday, July 9th. Compass Point started coverage on American Express in a research note on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price objective on the stock. Royal Bank of Canada increased their price target on American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Citigroup started coverage on American Express in a report on Monday, June 10th. They set a “neutral” rating and a $250.00 price objective on the stock. Finally, Barclays increased their target price on American Express from $221.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 9th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $230.70.

American Express Price Performance

The stock has a market cap of $186.92 billion, a P/E ratio of 21.33, a PEG ratio of 1.42 and a beta of 1.21. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.66. The business’s fifty day moving average price is $246.33 and its 200 day moving average price is $235.60.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.23. American Express had a net margin of 15.53% and a return on equity of 32.94%. The company had revenue of $16.33 billion during the quarter, compared to the consensus estimate of $16.60 billion. During the same period in the prior year, the business earned $2.89 earnings per share. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. Sell-side analysts forecast that American Express will post 13.12 EPS for the current fiscal year.

Institutional Trading of American Express

A number of hedge funds have recently made changes to their positions in the company. Cetera Advisors LLC raised its stake in shares of American Express by 119.6% during the first quarter. Cetera Advisors LLC now owns 39,497 shares of the payment services company’s stock valued at $8,993,000 after acquiring an additional 21,508 shares during the last quarter. Empowered Funds LLC raised its holdings in American Express by 102.9% during the 1st quarter. Empowered Funds LLC now owns 12,480 shares of the payment services company’s stock worth $2,842,000 after purchasing an additional 6,329 shares during the last quarter. Sciencast Management LP acquired a new position in shares of American Express in the 1st quarter worth approximately $1,881,000. New Mexico Educational Retirement Board boosted its stake in shares of American Express by 15.5% in the 1st quarter. New Mexico Educational Retirement Board now owns 35,763 shares of the payment services company’s stock valued at $8,143,000 after purchasing an additional 4,800 shares during the last quarter. Finally, Lord Abbett & CO. LLC raised its stake in American Express by 49.0% during the first quarter. Lord Abbett & CO. LLC now owns 279,106 shares of the payment services company’s stock worth $63,550,000 after buying an additional 91,760 shares during the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

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.