Fintel reports that on April 21, 2023, Piper Sandler maintained coverage of American Express (NYSE:AXP) with a Neutral recommendation.
Analyst Price Forecast Suggests 16.85% Upside
As of April 6, 2023, the average one-year price target for American Express is $190.79. The forecasts range from a low of $150.49 to a high of $231.00. The average price target represents an increase of 16.85% from its latest reported closing price of $163.28.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for American Express is $59,192MM, an increase of 13.53%. The projected annual non-GAAP EPS is $10.65.
- For more in-depth coverage of American Express, view the free, crowd-sourced company research report on Finpedia.
American Express Declares $0.60 Dividend
On March 8, 2023 the company declared a regular quarterly dividend of $0.60 per share ($2.40 annualized). Shareholders of record as of April 7, 2023 will receive the payment on May 10, 2023. Previously, the company paid $0.52 per share.
At the current share price of $163.28 / share, the stock's dividend yield is 1.47%. Looking back five years and taking a sample every week, the average dividend yield has been 1.38%, the lowest has been 0.94%, and the highest has been 2.49%. The standard deviation of yields is 0.25 (n=237).
The current dividend yield is 0.37 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.25. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.40%, demonstrating that it has increased its dividend over time.
What are Other Shareholders Doing?
Sumitomo Mitsui Trust Holdings holds 2,222K shares representing 0.30% ownership of the company. In it's prior filing, the firm reported owning 2,259K shares, representing a decrease of 1.69%. The firm increased its portfolio allocation in AXP by 3.78% over the last quarter.
Patten Group holds 2K shares representing 0.00% ownership of the company. No change in the last quarter.
IWB - iShares Russell 1000 ETF holds 466K shares representing 0.06% ownership of the company. In it's prior filing, the firm reported owning 444K shares, representing an increase of 4.85%. The firm increased its portfolio allocation in AXP by 3.36% over the last quarter.
Longbow Finance holds 70K shares representing 0.01% ownership of the company.
Ameritas Advisory Services holds 9K shares representing 0.00% ownership of the company. No change in the last quarter.
What is the Fund Sentiment?
There are 3067 funds or institutions reporting positions in American Express. This is an increase of 46 owner(s) or 1.52% in the last quarter. Average portfolio weight of all funds dedicated to AXP is 0.52%, an increase of 1.84%. Total shares owned by institutions decreased in the last three months by 0.63% to 695,309K shares. The put/call ratio of AXP is 0.99, indicating a bullish outlook.
American Express Background Information
(This description is provided by the company.)
American Express is a globally integrated payments company, providing customers with access to products, insights and experiences that enrich lives and build business success.
See all American Express regulatory filings.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.