Investors Sell Shares of American Express (AXP) on Strength (AXP)

Investors sold shares of American Express Company (NYSE:AXP) on strength during trading on Wednesday. $44.96 million flowed into the stock on the tick-up and $80.90 million flowed out of the stock on the tick-down, for a money net flow of $35.94 million out of the stock. Of all companies tracked, American Express had the 12th highest net out-flow for the day. American Express traded up $0.56 for the day and closed at $99.13

A number of analysts have weighed in on the stock. Bank of America raised their price objective on shares of American Express from $102.00 to $106.00 and gave the stock a “buy” rating in a report on Thursday, October 19th. Barclays set a $93.00 price objective on shares of American Express and gave the stock a “hold” rating in a report on Thursday, October 19th. Jefferies Group reissued an “in-line” rating and set a $93.00 price objective (up previously from $85.00) on shares of American Express in a report on Thursday, October 19th. Buckingham Research assumed coverage on shares of American Express in a report on Monday, October 2nd. They set a “neutral” rating and a $92.00 price objective on the stock. Finally, Zacks Investment Research raised shares of American Express from a “hold” rating to a “buy” rating and set a $96.00 price objective on the stock in a report on Tuesday, August 29th. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twelve have given a buy rating to the company. American Express presently has an average rating of “Hold” and a consensus price target of $94.04.

The company has a market cap of $85,380.00, a PE ratio of 19.14, a P/E/G ratio of 1.65 and a beta of 1.22. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 2.31.

American Express (NYSE:AXP) last issued its earnings results on Wednesday, October 18th. The payment services company reported $1.50 EPS for the quarter, topping the consensus estimate 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 net margin of 14.48% and a return on equity of 22.73%. The business’s revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.24 EPS. research analysts forecast that American Express Company will post 5.86 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 5th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend is Thursday, January 4th. American Express’s dividend payout ratio (DPR) is presently 27.03%.

In related news, CEO Kenneth I. Chenault sold 96,440 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $97.30, for a total value of $9,383,612.00. Following the completion of the transaction, the chief executive officer now owns 1,178,333 shares of the company’s stock, valued at approximately $114,651,800.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anre D. Williams sold 30,761 shares of the business’s 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 completion of the transaction, the insider now directly owns 28,720 shares of the company’s stock, valued at approximately $2,682,735.20. The disclosure for this sale can be found here. Insiders have sold a total of 440,310 shares of company stock valued at $42,478,329 in the last ninety days. Corporate insiders own 0.67% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of AXP. Parametric Portfolio Associates LLC grew its holdings in shares of American Express by 7.7% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 2,155,226 shares of the payment services company’s stock worth $194,962,000 after purchasing an additional 154,228 shares during the period. Institutional & Family Asset Management LLC grew its holdings in shares of American Express by 58.5% during the 3rd quarter. Institutional & Family Asset Management LLC now owns 6,439 shares of the payment services company’s stock worth $582,000 after purchasing an additional 2,376 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in shares of American Express during the 3rd quarter worth about $3,886,000. Visionary Asset Management Inc. purchased a new stake in shares of American Express during the 3rd quarter worth about $230,000. Finally, Public Employees Retirement System of Ohio grew its holdings in shares of American Express by 0.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 515,896 shares of the payment services company’s stock worth $46,668,000 after purchasing an additional 4,285 shares during the period. 83.35% of the stock is owned by institutional investors.

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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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