American Express Company (AXP) CEO Kenneth I. Chenault Sells 789,503 Shares
American Express Company (NYSE:AXP) CEO Kenneth I. Chenault sold 789,503 shares of the stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $84.62, for a total transaction of $66,807,743.86. Following the completion of the sale, the chief executive officer now owns 889,836 shares in the company, valued at $75,297,922.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
American Express Company (AXP) traded up 0.48% during midday trading on Tuesday, hitting $85.41. The stock had a trading volume of 3,255,176 shares. The stock has a market cap of $75.59 billion, a P/E ratio of 17.52 and a beta of 1.18. American Express Company has a 52 week low of $59.50 and a 52 week high of $86.10. The company has a 50-day moving average price of $83.01 and a 200-day moving average price of $79.41.
American Express (NYSE:AXP) last posted its quarterly earnings results on Wednesday, July 19th. The payment services company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.03. The company had revenue of $8.31 billion during the quarter, compared to the consensus estimate of $8.20 billion. American Express had a return on equity of 21.94% and a net margin of 14.11%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.10 EPS. Equities analysts expect that American Express Company will post $5.74 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 10th. Investors of record on Friday, July 7th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $1.28 dividend on an annualized basis and a yield of 1.50%. American Express’s dividend payout ratio (DPR) is 26.18%.
American Express announced that its Board of Directors has initiated a share repurchase program on Wednesday, June 28th that authorizes the company to buyback $4.40 billion in outstanding shares. This buyback authorization authorizes the payment services company to buy up to 5.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
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A number of analysts recently weighed in on the stock. BidaskClub downgraded shares of American Express from a “buy” rating to a “hold” rating in a research report on Tuesday. Jefferies Group LLC reiterated a “hold” rating and issued a $85.00 price target on shares of American Express in a research report on Saturday. Sanford C. Bernstein restated an “outperform” rating and set a $100.00 target price (up from $99.00) on shares of American Express in a report on Saturday. Guggenheim restated a “buy” rating and set a $95.00 target price (up from $90.00) on shares of American Express in a report on Saturday. Finally, Goldman Sachs Group, Inc. (The) restated a “neutral” rating and set a $94.00 target price (up from $87.00) on shares of American Express in a report on Saturday. Four investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and thirteen have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $84.77.
A number of hedge funds have recently modified their holdings of AXP. MCF Advisors LLC boosted its stake in shares of American Express by 0.3% in the second quarter. MCF Advisors LLC now owns 1,286 shares of the payment services company’s stock worth $108,000 after buying an additional 4 shares during the period. Appleton Partners Inc. MA boosted its stake in shares of American Express by 0.3% in the second quarter. Appleton Partners Inc. MA now owns 2,658 shares of the payment services company’s stock worth $224,000 after buying an additional 8 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its stake in shares of American Express by 0.4% in the first quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,641 shares of the payment services company’s stock worth $209,000 after buying an additional 10 shares during the period. Bath Savings Trust Co boosted its stake in shares of American Express by 0.3% in the second quarter. Bath Savings Trust Co now owns 4,388 shares of the payment services company’s stock worth $369,000 after buying an additional 14 shares during the period. Finally, Accredited Investors Inc. boosted its stake in shares of American Express by 0.5% in the first quarter. Accredited Investors Inc. now owns 3,174 shares of the payment services company’s stock worth $251,000 after buying an additional 15 shares during the period. 82.76% of the stock is currently owned by institutional investors and hedge funds.
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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