Traders Sell American Express Company (AXP) on Strength After Insider Selling
Investors sold shares of American Express Company (NYSE:AXP) on strength during trading hours on Thursday following insider selling activity. $34.00 million flowed into the stock on the tick-up and $71.55 million flowed out of the stock on the tick-down, for a money net flow of $37.55 million out of the stock. Of all equities tracked, American Express had the 0th highest net out-flow for the day. American Express traded up $0.19 for the day and closed at $95.98Specifically, insider Susan Sobbott sold 6,000 shares of the stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $84.39, for a total transaction of $506,340.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Linda Zukauckas sold 3,196 shares of the stock in a transaction on Friday, October 27th. The shares were sold at an average price of $95.42, for a total value of $304,962.32. The disclosure for this sale can be found here. Insiders have sold a total of 140,845 shares of company stock worth $13,197,233 in the last 90 days. 0.67% of the stock is currently owned by insiders.
Several analysts recently weighed in on AXP shares. Zacks Investment Research lowered American Express from a “buy” rating to a “hold” rating in a report on Wednesday, August 30th. Morgan Stanley decreased 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. Jefferies Group LLC restated a “hold” rating and set a $85.00 price target on shares of American Express in a report on Saturday, July 22nd. Credit Suisse Group restated an “underperform” rating and set a $84.00 price target (up previously from $79.00) on shares of American Express in a report on Thursday, October 19th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $100.00 price objective (up previously from $99.00) on shares of American Express in a research report on Saturday, July 22nd. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $91.56.
The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 2.31. The stock has a market capitalization of $83.70 billion, a P/E ratio of 18.39, a P/E/G ratio of 1.60 and a beta of 1.22.
American Express (NYSE:AXP) last announced its quarterly earnings data on Wednesday, October 18th. The payment services company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.03. American Express had a net margin of 14.48% and a return on equity of 22.73%. The company had revenue of $8.44 billion during the quarter, compared to the consensus estimate of $8.31 billion. During the same quarter last year, the firm posted $1.24 EPS. The company’s quarterly revenue was up 8.5% on a year-over-year basis. research analysts anticipate that American Express Company will post 5.85 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 10th. Stockholders of record on Friday, October 6th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Thursday, October 5th. This is an increase from American Express’s previous quarterly dividend of $0.32. American Express’s dividend payout ratio (DPR) is 27.03%.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of American Express by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 50,233,957 shares of the payment services company’s stock valued at $4,231,710,000 after acquiring an additional 731,428 shares during the period. BlackRock Inc. grew its position in shares of American Express by 1.1% in the 2nd quarter. BlackRock Inc. now owns 44,685,897 shares of the payment services company’s stock valued at $3,764,339,000 after acquiring an additional 508,030 shares during the period. State Street Corp grew its position in shares of American Express by 1.8% in the 1st quarter. State Street Corp now owns 40,399,620 shares of the payment services company’s stock valued at $3,196,011,000 after acquiring an additional 731,315 shares during the period. Wellington Management Group LLP grew its position in shares of American Express by 21.7% in the 1st quarter. Wellington Management Group LLP now owns 17,198,787 shares of the payment services company’s stock valued at $1,360,596,000 after acquiring an additional 3,071,573 shares during the period. Finally, First Eagle Investment Management LLC grew its position in shares of American Express by 0.6% in the 2nd quarter. First Eagle Investment Management LLC now owns 16,342,822 shares of the payment services company’s stock valued at $1,376,719,000 after acquiring an additional 103,546 shares during the period. 83.06% of the stock is owned by institutional investors.
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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