American Express (NYSE:AXP) Chairman Stephen J. Squeri sold 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $103.84, for a total transaction of $1,298,000.00. Following the completion of the transaction, the chairman now owns 209,957 shares in the company, valued at approximately $21,801,934.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of AXP stock opened at $105.21 on Tuesday. American Express has a 52 week low of $87.54 and a 52 week high of $111.77. The firm has a market capitalization of $88.60 billion, a P/E ratio of 14.48, a price-to-earnings-growth ratio of 1.40 and a beta of 1.06. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 2.58.
American Express (NYSE:AXP) last announced its quarterly earnings results on Thursday, October 18th. The payment services company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.11. The company had revenue of $10.14 billion during the quarter, compared to analyst estimates of $10.06 billion. American Express had a return on equity of 31.26% and a net margin of 9.51%. The firm’s revenue was up 9.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.50 earnings per share. Sell-side analysts anticipate that American Express will post 7.38 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 9th. Shareholders of record on Friday, October 5th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, October 4th. This represents a $1.56 annualized dividend and a yield of 1.48%. This is a positive change from American Express’s previous quarterly dividend of $0.35. American Express’s dividend payout ratio (DPR) is currently 26.58%.
Several brokerages have recently issued reports on AXP. Bank of America set a $125.00 target price on shares of American Express and gave the stock a “buy” rating in a report on Friday, October 19th. BMO Capital Markets raised their target price on shares of American Express from $103.00 to $106.00 and gave the stock a “market perform” rating in a report on Thursday, July 19th. Jefferies Financial Group restated a “hold” rating and issued a $105.00 target price on shares of American Express in a report on Monday, July 16th. Barclays raised their target price on shares of American Express from $113.00 to $115.00 and gave the stock a “hold” rating in a report on Friday, October 19th. Finally, Zacks Investment Research upgraded shares of American Express from a “hold” rating to a “buy” rating and set a $120.00 target price on the stock in a report on Tuesday, October 9th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $112.70.
A number of institutional investors have recently made changes to their positions in AXP. Destination Wealth Management lifted its position in American Express by 165.4% during the second quarter. Destination Wealth Management now owns 1,059 shares of the payment services company’s stock valued at $104,000 after buying an additional 660 shares during the period. Tuttle Tactical Management purchased a new position in American Express during the second quarter valued at $105,000. Lenox Wealth Advisors LLC lifted its position in American Express by 1,173.8% during the third quarter. Lenox Wealth Advisors LLC now owns 1,070 shares of the payment services company’s stock valued at $114,000 after buying an additional 986 shares during the period. Sageworth Trust Co lifted its position in American Express by 455.6% during the third quarter. Sageworth Trust Co now owns 1,250 shares of the payment services company’s stock valued at $133,000 after buying an additional 1,025 shares during the period. Finally, Kiley Juergens Wealth Management LLC purchased a new position in American Express during the second quarter valued at $148,000. 82.98% of the stock is owned by institutional investors and hedge funds.
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American Express Company Profile
American Express Company, together with its subsidiaries, provides charge and credit payment card products and travel-related services to consumers and businesses worldwide. It operates through four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.
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