American Express Company (NYSE:AXP) insider Ashwini Gupta sold 90,658 shares of the stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $94.71, for a total value of $8,586,219.18. Following the transaction, the insider now owns 289,996 shares in the company, valued at $27,465,521.16. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
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, topping analysts’ consensus estimates of $1.47 by $0.03. The business had revenue of $8.44 billion during the quarter, compared to analysts’ expectations of $8.31 billion. American Express had a return on equity of 22.73% and a net margin of 14.48%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.24 earnings per share.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Shareholders of record on Friday, October 6th will be given a $0.35 dividend. This is a boost from American Express’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.40 dividend on an annualized basis and a yield of 1.47%. American Express’s dividend payout ratio is presently 26.97%.
A number of equities analysts have issued reports on AXP shares. Morgan Stanley cut their price target on American Express from $90.00 to $89.00 and set an “equal weight” rating on the stock in a report on Friday, September 8th. Credit Suisse Group restated an “underperform” rating and set a $84.00 price target (up from $79.00) on shares of American Express in a report on Thursday, October 19th. Bank of America Corporation restated a “buy” rating and set a $102.00 price target on shares of American Express in a report on Monday, October 9th. BidaskClub cut American Express from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, Zacks Investment Research cut American Express from a “buy” rating to a “hold” rating in a report on Wednesday, August 30th. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $91.56.
A number of institutional investors and hedge funds have recently modified their holdings of AXP. BlackRock Inc. increased its position in American Express by 2,686.0% in the first quarter. BlackRock Inc. now owns 44,177,867 shares of the payment services company’s stock worth $3,494,913,000 after buying an additional 42,592,136 shares in the last quarter. Wellington Management Group LLP increased its position in American Express by 21.7% in 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 buying an additional 3,071,573 shares in the last quarter. Veritas Asset Management LLP increased its position in American Express by 15.2% in the second quarter. Veritas Asset Management LLP now owns 10,303,201 shares of the payment services company’s stock worth $867,942,000 after buying an additional 1,358,474 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in American Express in the second quarter worth about $101,526,000. Finally, Canada Pension Plan Investment Board increased its position in American Express by 944,765.8% in the second quarter. Canada Pension Plan Investment Board now owns 1,077,147 shares of the payment services company’s stock worth $90,739,000 after buying an additional 1,077,033 shares in the last quarter. Institutional investors and hedge funds own 83.06% of the company’s stock.
American Express Company Profile
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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