Howard Grosfield Sells 9,450 Shares of American Express (NYSE:AXP) Stock

American Express (NYSE:AXP) insider Howard Grosfield sold 9,450 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $275.50, for a total value of $2,603,475.00. Following the completion of the sale, the insider now directly owns 9,402 shares in the company, valued at $2,590,251. The trade was a 50.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

American Express Price Performance

Shares of NYSE:AXP opened at $284.03 on Friday. The firm’s 50 day moving average price is $263.15 and its 200-day moving average price is $286.91. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. The stock has a market capitalization of $198.99 billion, a PE ratio of 20.27, a price-to-earnings-growth ratio of 1.41 and a beta of 1.23. American Express has a twelve month low of $220.43 and a twelve month high of $326.28.

American Express (NYSE:AXPGet Free Report) last issued its quarterly earnings data on Thursday, April 17th. The payment services company reported $3.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.47 by $0.17. American Express had a net margin of 15.36% and a return on equity of 32.65%. The firm had revenue of $16.97 billion during the quarter, compared to the consensus estimate of $17.04 billion. During the same quarter in the previous year, the firm posted $3.33 EPS. Equities research analysts expect that American Express will post 15.33 EPS for the current year.

American Express Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 4th will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 1.15%. This is a positive change from American Express’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, April 4th. American Express’s dividend payout ratio is currently 22.91%.

Hedge Funds Weigh In On American Express

Several large investors have recently added to or reduced their stakes in AXP. Strategic Family Wealth Counselors L.L.C. raised its holdings in American Express by 11.8% during the first quarter. Strategic Family Wealth Counselors L.L.C. now owns 1,316 shares of the payment services company’s stock valued at $354,000 after acquiring an additional 139 shares during the period. Baker Avenue Asset Management LP raised its position in shares of American Express by 1.0% during the first quarter. Baker Avenue Asset Management LP now owns 5,188 shares of the payment services company’s stock valued at $1,396,000 after buying an additional 49 shares during the last quarter. Blueshift Asset Management LLC grew its stake in American Express by 148.8% during the first quarter. Blueshift Asset Management LLC now owns 2,727 shares of the payment services company’s stock valued at $734,000 after acquiring an additional 1,631 shares in the last quarter. Strategic Advocates LLC increased its holdings in American Express by 67.1% in the 1st quarter. Strategic Advocates LLC now owns 3,020 shares of the payment services company’s stock valued at $813,000 after acquiring an additional 1,213 shares during the last quarter. Finally, MONECO Advisors LLC lifted its stake in American Express by 2.0% in the 1st quarter. MONECO Advisors LLC now owns 2,118 shares of the payment services company’s stock worth $570,000 after purchasing an additional 42 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Analysts Set New Price Targets

AXP has been the subject of a number of research analyst reports. HSBC raised their price target on American Express from $270.00 to $294.00 and gave the stock a “hold” rating in a research note on Friday, January 24th. The Goldman Sachs Group reduced their price target on shares of American Express from $367.00 to $330.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th. Redburn Atlantic raised American Express from a “sell” rating to a “neutral” rating and cut their price objective for the company from $270.00 to $255.00 in a research report on Wednesday, April 23rd. Royal Bank of Canada reissued an “outperform” rating and issued a $310.00 target price on shares of American Express in a research report on Monday, April 21st. Finally, William Blair restated an “outperform” rating on shares of American Express in a report on Monday, April 21st. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $295.05.

Check Out Our Latest Stock Report on AXP

About American Express

(Get Free Report)

American Express Company, together with its subsidiaries, operates as integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and Internationally. It operates through four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.

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Insider Buying and Selling by Quarter for American Express (NYSE:AXP)

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