American Express Co. (NYSE:AXP) announced its quarterly earnings results on Thursday. The payment services company reported $0.91 EPS for the quarter, missing the consensus estimate of $0.99 by $0.08. American Express had a net margin of 16.67% and a return on equity of 27.84%. The company had revenue of $8 billion for the quarter, compared to analyst estimates of $7.92 billion. During the same quarter last year, the business earned $1.23 EPS. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. American Express updated its FY17 guidance to $5.60-5.80 EPS.
Shares of American Express (NYSE:AXP) traded down 1.03% during trading on Thursday, hitting $76.69. The company had a trading volume of 8,054,220 shares. The stock has a market capitalization of $70.19 billion, a price-to-earnings ratio of 13.63 and a beta of 1.20. American Express has a 12-month low of $50.27 and a 12-month high of $78.00. The stock has a 50-day moving average of $74.77 and a 200 day moving average of $67.53.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 10th. Investors of record on Friday, January 6th will be given a $0.32 dividend. The ex-dividend date is Wednesday, January 4th. This represents a $1.28 annualized dividend and a dividend yield of 1.67%. American Express’s dividend payout ratio is presently 22.70%.
Several brokerages have commented on AXP. JPMorgan Chase & Co. upgraded American Express from a “neutral” rating to an “overweight” rating and increased their price target for the company from $76.00 to $90.00 in a report on Tuesday. Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of American Express in a report on Thursday, January 12th. Bank of America Corp. increased their price target on American Express from $75.86 to $98.00 and gave the company a “market perform” rating in a report on Tuesday, January 10th. Vetr upgraded American Express from a “sell” rating to a “hold” rating and set a $76.30 price target on the stock in a report on Monday, January 9th. Finally, Barclays PLC set a $83.00 price target on American Express and gave the company a “hold” rating in a report on Sunday, January 8th. Seven analysts have rated the stock with a sell rating, seventeen have given a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $72.78.
In other American Express news, insider L Kevin Cox sold 54,574 shares of the stock in a transaction dated Tuesday, January 10th. The stock was sold at an average price of $78.00, for a total value of $4,256,772.00. Following the completion of the transaction, the insider now directly owns 30,090 shares in the company, valued at $2,347,020. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ashwini Gupta sold 140,808 shares of the stock in a transaction dated Friday, October 21st. The shares were sold at an average price of $67.18, for a total value of $9,459,481.44. Following the completion of the transaction, the insider now owns 239,718 shares of the company’s stock, valued at $16,104,255.24. The disclosure for this sale can be found here. Insiders sold 413,500 shares of company stock valued at $29,447,770 over the last quarter. Corporate insiders own 0.78% of the company’s stock.
A number of institutional investors have recently bought and sold shares of AXP. Dodge & Cox increased its position in American Express by 7.2% in the second quarter. Dodge & Cox now owns 28,248,637 shares of the payment services company’s stock valued at $1,716,387,000 after buying an additional 1,888,379 shares in the last quarter. International Value Advisers LLC bought a new position in shares of American Express during the second quarter worth about $83,148,000. APG Asset Management N.V. increased its position in shares of American Express by 58.0% in the second quarter. APG Asset Management N.V. now owns 2,501,633 shares of the payment services company’s stock worth $151,999,000 after buying an additional 918,209 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its position in shares of American Express by 16.5% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,145,145 shares of the payment services company’s stock worth $191,099,000 after buying an additional 446,100 shares during the period. Finally, American Century Companies Inc. increased its position in shares of American Express by 18.7% in the second quarter. American Century Companies Inc. now owns 2,405,001 shares of the payment services company’s stock worth $146,128,000 after buying an additional 379,657 shares during the period. Hedge funds and other institutional investors own 80.61% of the company’s stock.
American Express Company Profile
American Express Company is a services company. The Company’s principal products and services are charge and credit payment card products, and travel-related services offered to consumers and businesses around the world. The Company’s segments include U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).