James Peter Bush Sells 10,230 Shares of American Express Company (AXP) Stock
American Express Company (NYSE:AXP) insider James Peter Bush sold 10,230 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $90.55, for a total value of $926,326.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of American Express Company (NYSE:AXP) traded down 0.46% during mid-day trading on Wednesday, hitting $91.01. The company’s stock had a trading volume of 3,091,679 shares. The stock has a 50-day moving average of $86.96 and a 200-day moving average of $82.35. The company has a market cap of $80.45 billion, a PE ratio of 18.66 and a beta of 1.21. American Express Company has a 12-month low of $59.50 and a 12-month high of $91.64.
American Express (NYSE:AXP) last posted its quarterly earnings data on Wednesday, July 19th. The payment services company reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.03. The firm had revenue of $8.31 billion during the quarter, compared to analysts’ expectations of $8.20 billion. American Express had a return on equity of 21.90% 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 last year, the business posted $2.10 EPS. On average, equities research analysts forecast 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 Friday, November 10th. Investors of record on Friday, October 6th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend is Thursday, October 5th. This is a boost from American Express’s previous quarterly dividend of $0.32. American Express’s dividend payout ratio (DPR) is currently 26.18%.
American Express announced that its board has approved a share repurchase program on Wednesday, June 28th that authorizes the company to buyback $4.40 billion in shares. This buyback authorization authorizes the payment services company to buy up to 5.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.
Several research firms have commented on AXP. Credit Suisse Group restated a “sell” rating and issued a $79.00 price objective on shares of American Express in a research report on Wednesday. Buckingham Research began coverage on American Express in a research report on Monday. They issued a “neutral” rating and a $92.00 price objective on the stock. Barclays PLC restated a “buy” rating and issued a $83.00 price objective on shares of American Express in a research report on Thursday, July 20th. BidaskClub upgraded American Express from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Finally, Zacks Investment Research lowered American Express from a “buy” rating to a “hold” rating in a research report on Tuesday, September 12th. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $86.48.
A number of institutional investors have recently bought and sold shares of the stock. MCF Advisors LLC increased its position in American Express by 0.3% during the 2nd quarter. MCF Advisors LLC now owns 1,286 shares of the payment services company’s stock worth $108,000 after purchasing an additional 4 shares in the last quarter. Appleton Partners Inc. MA increased its position in American Express by 0.3% during the 2nd quarter. Appleton Partners Inc. MA now owns 2,658 shares of the payment services company’s stock worth $224,000 after purchasing an additional 8 shares in the last quarter. Westside Investment Management Inc. increased its position in American Express by 0.5% during the 2nd quarter. Westside Investment Management Inc. now owns 1,536 shares of the payment services company’s stock worth $129,000 after purchasing an additional 8 shares in the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position in American Express by 0.4% during the 2nd quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,652 shares of the payment services company’s stock worth $223,000 after purchasing an additional 11 shares in the last quarter. Finally, Bath Savings Trust Co increased its position in American Express by 0.3% during the 2nd quarter. Bath Savings Trust Co now owns 4,388 shares of the payment services company’s stock worth $369,000 after purchasing an additional 14 shares in the last quarter. Hedge funds and other institutional investors own 82.78% of the company’s stock.
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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