Investors sold shares of American Express (NYSE:AXP) on strength during trading hours on Thursday. $32.46 million flowed into the stock on the tick-up and $96.16 million flowed out of the stock on the tick-down, for a money net flow of $63.70 million out of the stock. Of all companies tracked, American Express had the 5th highest net out-flow for the day. American Express traded up $0.63 for the day and closed at $101.22
Several research analysts have recently commented on the stock. TheStreet raised shares of American Express from a “c+” rating to a “b+” rating in a report on Wednesday, April 18th. Oppenheimer set a $117.00 price target on shares of American Express and gave the company a “buy” rating in a report on Tuesday, March 13th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $120.00 price target (up from $115.00) on shares of American Express in a report on Thursday, April 19th. Sandler O’Neill set a $109.00 price target on shares of American Express and gave the company a “buy” rating in a report on Thursday, March 15th. Finally, Royal Bank of Canada lifted their price target on shares of American Express to $86.00 and gave the company an “underperform” rating in a report on Thursday, April 19th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have issued a buy rating to the company. American Express currently has an average rating of “Hold” and an average target price of $107.45.
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The company has a market capitalization of $86.67 billion, a price-to-earnings ratio of 17.24, a P/E/G ratio of 1.36 and a beta of 1.13. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 2.67.
American Express (NYSE:AXP) last issued its quarterly earnings results on Wednesday, April 18th. The payment services company reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.15. The company had revenue of $9.72 billion during the quarter, compared to analyst estimates of $9.49 billion. American Express had a net margin of 8.79% and a return on equity of 28.41%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.34 EPS. research analysts predict that American Express will post 7.23 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 10th. Stockholders of record on Friday, July 6th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend is Thursday, July 5th. American Express’s dividend payout ratio is currently 23.85%.
In other news, insider L Kevin Cox sold 33,777 shares of the company’s stock in a transaction that occurred on Thursday, April 19th. The shares were sold at an average price of $100.54, for a total value of $3,395,939.58. Following the completion of the sale, the insider now directly owns 19,249 shares of the company’s stock, valued at approximately $1,935,294.46. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Jeffrey C. Campbell sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 1st. The stock was sold at an average price of $98.05, for a total transaction of $882,450.00. Following the completion of the sale, the chief financial officer now directly owns 79,978 shares of the company’s stock, valued at $7,841,842.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,252 shares of company stock valued at $5,800,027. Company insiders own 0.20% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in AXP. Boston Partners raised its holdings in shares of American Express by 447.8% in the 1st quarter. Boston Partners now owns 4,807,964 shares of the payment services company’s stock worth $448,487,000 after purchasing an additional 3,930,338 shares in the last quarter. UBS Asset Management Americas Inc. raised its holdings in shares of American Express by 59.0% during the fourth quarter. UBS Asset Management Americas Inc. now owns 5,305,396 shares of the payment services company’s stock valued at $526,879,000 after acquiring an additional 1,968,718 shares during the period. Millennium Management LLC raised its holdings in shares of American Express by 847.9% during the fourth quarter. Millennium Management LLC now owns 1,480,273 shares of the payment services company’s stock valued at $147,006,000 after acquiring an additional 1,324,105 shares during the period. Swedbank acquired a new stake in shares of American Express during the fourth quarter valued at approximately $98,751,000. Finally, Veritas Asset Management LLP raised its holdings in shares of American Express by 9.0% during the first quarter. Veritas Asset Management LLP now owns 11,996,953 shares of the payment services company’s stock valued at $1,119,076,000 after acquiring an additional 992,800 shares during the period. Institutional investors and hedge funds own 85.03% of the company’s stock.
About American Express
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.