Investors Buy American Express Company (AXP) on Weakness on Insider Selling
Traders purchased shares of American Express Company (NYSE:AXP) on weakness during trading on Monday following insider selling activity. $86.40 million flowed into the stock on the tick-up and $36.36 million flowed out of the stock on the tick-down, for a money net flow of $50.04 million into the stock. Of all equities tracked, American Express had the 13th highest net in-flow for the day. American Express traded down ($0.72) for the day and closed at $95.07Specifically, insider Susan Sobbott sold 6,000 shares of the stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $84.39, for a total value of $506,340.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider James Peter Bush sold 10,230 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $90.55, for a total transaction of $926,326.50. The disclosure for this sale can be found here. In the last three months, insiders sold 46,991 shares of company stock worth $4,306,052. Insiders own 0.67% of the company’s stock.
Several research analysts recently commented on the stock. Bank of America Corporation raised their price target on shares of American Express from $102.00 to $106.00 and gave the stock a “buy” rating in a research note on Thursday, October 19th. Credit Suisse Group reaffirmed a “sell” rating on shares of American Express in a research note on Wednesday, July 19th. Jefferies Group LLC reaffirmed an “in-line” rating and issued a $93.00 price target (up previously from $85.00) on shares of American Express in a research note on Thursday, October 19th. Keefe, Bruyette & Woods set a $95.00 price target on shares of American Express and gave the stock a “buy” rating in a research note on Saturday, August 19th. Finally, Wells Fargo & Company assumed coverage on shares of American Express in a research note on Tuesday, October 10th. They issued an “outperform” rating and a $105.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $91.04.
The company has a 50 day moving average price of $90.34 and a 200-day moving average price of $84.13. The company has a market capitalization of $84.04 billion, a P/E ratio of 19.50 and a beta of 1.21.
American Express (NYSE:AXP) last issued its quarterly earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.03. American Express had a return on equity of 22.73% and a net margin of 14.48%. The firm had revenue of $8.44 billion for the quarter, compared to analyst estimates of $8.31 billion. During the same period last year, the company earned $1.24 EPS. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. On average, equities analysts anticipate that American Express Company will post $5.85 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Shareholders of record on Friday, October 6th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.47%. This is a positive change from American Express’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, October 5th. American Express’s dividend payout ratio (DPR) is presently 26.97%.
A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in 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 worth $4,231,710,000 after buying an additional 731,428 shares during the last quarter. BlackRock Inc. boosted its stake in American Express by 1.1% in the 2nd quarter. BlackRock Inc. now owns 44,685,897 shares of the payment services company’s stock worth $3,764,339,000 after buying an additional 508,030 shares during the last quarter. State Street Corp boosted its stake in 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 worth $3,196,011,000 after buying an additional 731,315 shares during the last quarter. Wellington Management Group LLP boosted its stake in 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 worth $1,360,596,000 after buying an additional 3,071,573 shares during the last quarter. Finally, First Eagle Investment Management LLC boosted its stake in 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 worth $1,376,719,000 after buying an additional 103,546 shares during the last quarter. 83.06% of the stock is currently owned by hedge funds and other 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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