American Express Company (NYSE:AXP) insider Anre D. Williams sold 30,761 shares of American Express stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $93.41, for a total transaction of $2,873,385.01. Following the sale, the insider now owns 28,720 shares of the company’s stock, valued at $2,682,735.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
American Express Company (NYSE AXP) opened at 95.79 on Monday. American Express Company has a 1-year low of $65.03 and a 1-year high of $96.01. The stock’s 50 day moving average is $90.34 and its 200-day moving average is $84.13. The firm has a market capitalization of $84.68 billion, a PE ratio of 19.65 and a beta of 1.21.
American Express (NYSE:AXP) last issued its quarterly earnings results on Wednesday, October 18th. The payment services company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.03. The company had revenue of $8.44 billion for the quarter, compared to analyst estimates of $8.31 billion. American Express had a return on equity of 22.73% and a net margin of 14.48%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the company earned $1.24 earnings per share. Equities research analysts forecast that American Express Company will post $5.85 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Stockholders of record on Friday, October 6th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.46%. This is a positive change from American Express’s previous quarterly dividend of $0.32. The ex-dividend date is Thursday, October 5th. American Express’s dividend payout ratio (DPR) is 26.97%.
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A number of equities research analysts have weighed in on the stock. Atlantic Securities upgraded shares of American Express from an “underweight” rating to a “neutral” rating and set a $100.00 price target for the company in a research report on Tuesday, October 24th. Jefferies Group LLC reiterated an “in-line” rating and set a $93.00 price target (up from $85.00) on shares of American Express in a research report on Thursday, October 19th. Credit Suisse Group reiterated an “underperform” rating and set a $84.00 price target (up from $79.00) on shares of American Express in a research report on Thursday, October 19th. Stephens set a $89.00 price target on shares of American Express and gave the company a “hold” rating in a research report on Thursday, October 19th. Finally, Oppenheimer Holdings, Inc. set a $99.00 price target on shares of American Express and gave the company a “buy” rating in a research report on Thursday, October 19th. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $91.04.
A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in American Express by 1.5% during the second quarter. Vanguard Group Inc. now owns 50,233,957 shares of the payment services company’s stock worth $4,231,710,000 after acquiring an additional 731,428 shares during the period. BlackRock Inc. grew its holdings in American Express by 1.1% during the second quarter. BlackRock Inc. now owns 44,685,897 shares of the payment services company’s stock worth $3,764,339,000 after acquiring an additional 508,030 shares during the period. State Street Corp grew its holdings in American Express by 1.8% during the first quarter. State Street Corp now owns 40,399,620 shares of the payment services company’s stock worth $3,196,011,000 after acquiring an additional 731,315 shares during the period. Wellington Management Group LLP grew its holdings in American Express by 21.7% during the first quarter. Wellington Management Group LLP now owns 17,198,787 shares of the payment services company’s stock worth $1,360,596,000 after acquiring an additional 3,071,573 shares during the period. Finally, First Eagle Investment Management LLC grew its holdings in American Express by 0.6% during the second quarter. First Eagle Investment Management LLC now owns 16,342,822 shares of the payment services company’s stock worth $1,376,719,000 after acquiring an additional 103,546 shares during the period. 83.06% of the stock is currently owned by hedge funds and other institutional investors.
About American Express
American Express Company, together with its subsidiaries, is a global services company. The Company’s principal products and services are charge and credit card products, and travel-related services, which are offered to consumers and businesses around the world. Its segments include the U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).
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