Stephen J. Squeri Sells 94,792 Shares of American Express Company (AXP) Stock
American Express Company (NYSE:AXP) Vice Chairman Stephen J. Squeri sold 94,792 shares of the company’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $85.41, for a total transaction of $8,096,184.72. Following the sale, the insider now directly owns 261,665 shares in the company, valued at approximately $22,348,807.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
American Express Company (AXP) traded down 1.70% during midday trading on Thursday, reaching $83.85. 6,119,259 shares of the company’s stock traded hands. The firm’s 50-day moving average is $83.37 and its 200 day moving average is $79.53. The firm has a market cap of $74.21 billion, a PE ratio of 17.20 and a beta of 1.18. American Express Company has a 52-week low of $59.50 and a 52-week high of $86.28.
American Express (NYSE:AXP) last issued its earnings results on Wednesday, July 19th. The payment services company reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.03. The firm had revenue of $8.31 billion for the quarter, compared to the consensus estimate of $8.20 billion. American Express had a net margin of 14.11% and a return on equity of 21.94%. The business’s revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.10 earnings per share. Equities research analysts expect that American Express Company will post $5.73 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 10th. Stockholders of record on Friday, July 7th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $1.28 annualized dividend and a dividend yield of 1.53%. American Express’s dividend payout ratio is presently 26.18%.
American Express declared that its Board of Directors has initiated a stock repurchase program on Wednesday, June 28th that permits the company to repurchase $4.40 billion in outstanding shares. This repurchase authorization permits the payment services company to reacquire up to 5.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
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Hedge funds and other institutional investors have recently modified their holdings of the company. McQueen Ball & Associates Inc. increased its position in shares of American Express by 2.4% in the first quarter. McQueen Ball & Associates Inc. now owns 21,889 shares of the payment services company’s stock valued at $1,732,000 after buying an additional 510 shares in the last quarter. Private Asset Management Inc. increased its position in shares of American Express by 9.1% in the first quarter. Private Asset Management Inc. now owns 18,000 shares of the payment services company’s stock valued at $1,424,000 after buying an additional 1,500 shares in the last quarter. Franklin Street Advisors Inc. NC increased its position in shares of American Express by 16.0% in the first quarter. Franklin Street Advisors Inc. NC now owns 105,392 shares of the payment services company’s stock valued at $8,338,000 after buying an additional 14,525 shares in the last quarter. Park National Corp OH increased its position in shares of American Express by 8.3% in the first quarter. Park National Corp OH now owns 153,202 shares of the payment services company’s stock valued at $12,120,000 after buying an additional 11,804 shares in the last quarter. Finally, Beacon Financial Group boosted its position in American Express by 12.2% in the first quarter. Beacon Financial Group now owns 14,512 shares of the payment services company’s stock valued at $1,149,000 after buying an additional 1,583 shares during the last quarter. Hedge funds and other institutional investors own 82.76% of the company’s stock.
AXP has been the topic of a number of research analyst reports. BMO Capital Markets reaffirmed a “hold” rating and set a $84.00 price target on shares of American Express in a research report on Thursday, June 1st. Instinet raised shares of American Express from a “reduce” rating to a “neutral” rating and upped their price target for the company from $63.00 to $78.00 in a research report on Thursday, April 27th. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and set a $87.00 price target on shares of American Express in a research report on Thursday, April 20th. Jefferies Group LLC reaffirmed a “hold” rating and set a $75.00 price target on shares of American Express in a research report on Saturday, April 22nd. Finally, Nomura raised shares of American Express from a “reduce” rating to a “neutral” rating and upped their price target for the company from $63.00 to $78.00 in a research report on Thursday, April 27th. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating and thirteen have assigned a buy rating to the company. American Express presently has a consensus rating of “Hold” and an average price target of $84.77.
About American Express
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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