American Express Company (NYSE:AXP) insider James Peter Bush sold 10,230 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $90.55, for a total value of $926,326.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of American Express Company (NYSE:AXP) traded up 1.36% during mid-day trading on Friday, reaching $92.86. The company’s stock had a trading volume of 3,224,158 shares. American Express Company has a 12 month low of $59.78 and a 12 month high of $92.92. The company has a 50 day moving average of $88.29 and a 200-day moving average of $83.07. The firm has a market capitalization of $82.09 billion, a P/E ratio of 19.04 and a beta of 1.21.
American Express (NYSE:AXP) last announced its earnings results on Wednesday, July 19th. The payment services company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.44 by $0.03. The business had revenue of $8.31 billion for the quarter, compared to the consensus estimate of $8.20 billion. American Express had a return on equity of 21.90% and a net margin of 14.11%. American Express’s revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.10 EPS. Equities research analysts forecast that American Express Company will post $5.74 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Stockholders of record on Friday, October 6th will be issued a $0.35 dividend. This is an increase from American Express’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Thursday, October 5th. American Express’s payout ratio is presently 28.63%.
American Express declared that its Board of Directors has approved a stock repurchase program on Wednesday, June 28th that allows the company to repurchase $4.40 billion in outstanding shares. This repurchase authorization allows the payment services company to repurchase up to 5.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
A number of equities research analysts have recently issued reports on AXP shares. BidaskClub upgraded American Express from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Barclays PLC reiterated a “buy” rating and issued a $83.00 target price on shares of American Express in a research note on Thursday, July 20th. Guggenheim reiterated a “buy” rating and issued a $95.00 target price (up previously from $90.00) on shares of American Express in a research note on Saturday, July 22nd. Keefe, Bruyette & Woods set a $95.00 price objective on American Express and gave the company a “buy” rating in a research note on Saturday, August 19th. Finally, Zacks Investment Research upgraded American Express from a “hold” rating to a “buy” rating and set a $96.00 price objective for the company in a research note on Tuesday, August 29th. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have given a buy rating to the company’s stock. American Express currently has an average rating of “Hold” and a consensus price target of $87.69.
Institutional investors and hedge funds have recently made changes to their positions in the company. Matthew Goff Investment Advisor LLC acquired a new position in shares of American Express in the 1st quarter worth approximately $2,543,000. Vanguard Group Inc. boosted its holdings in shares of American Express by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 49,502,529 shares of the payment services company’s stock worth $3,916,145,000 after acquiring an additional 722,235 shares in the last quarter. Rothschild Asset Management Inc. boosted its holdings in shares of American Express by 19.5% in the 1st quarter. Rothschild Asset Management Inc. now owns 641,409 shares of the payment services company’s stock worth $50,742,000 after acquiring an additional 104,647 shares in the last quarter. First Citizens Bank & Trust Co. acquired a new position in shares of American Express in the 2nd quarter worth approximately $215,000. Finally, Trust Co. of Vermont boosted its holdings in shares of American Express by 5.0% in the 1st quarter. Trust Co. of Vermont now owns 17,289 shares of the payment services company’s stock worth $1,367,000 after acquiring an additional 819 shares in the last quarter. 82.78% of the stock is currently owned by institutional investors and hedge funds.
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).