Traders Buy Shares of American Express (AXP) on Weakness

Investors purchased shares of American Express (NYSE:AXP) on weakness during trading on Thursday. $111.15 million flowed into the stock on the tick-up and $39.28 million flowed out of the stock on the tick-down, for a money net flow of $71.87 million into the stock. Of all equities tracked, American Express had the 4th highest net in-flow for the day. American Express traded down ($0.26) for the day and closed at $99.76

A number of equities research analysts recently issued reports on the stock. TheStreet raised shares of American Express from a “c+” rating to a “b+” rating in a report on Wednesday, April 18th. Barclays upped their price objective on shares of American Express from $112.00 to $113.00 and gave the company an “equal weight” rating in a report on Thursday, April 19th. Guggenheim reissued a “hold” rating and issued a $104.00 price objective on shares of American Express in a report on Thursday, April 19th. Royal Bank of Canada upped their price objective on shares of American Express to $86.00 and gave the company an “underperform” rating in a report on Thursday, April 19th. Finally, Buckingham Research upped their price objective on shares of American Express from $110.00 to $111.00 and gave the company a “neutral” rating in a report on Thursday, April 19th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $107.45.

The stock has a market capitalization of $87.07 billion, a PE ratio of 16.99, a PEG ratio of 1.37 and a beta of 1.10. 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 (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.71 by $0.15. The business had revenue of $9.72 billion for the quarter, compared to analysts’ expectations of $9.49 billion. American Express had a net margin of 8.79% and a return on equity of 28.41%. The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.34 earnings per share. research analysts anticipate that American Express will post 7.23 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 10th. Stockholders of record on Friday, July 6th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, July 5th. This represents a $1.40 annualized dividend and a dividend yield of 1.40%. American Express’s dividend payout ratio is presently 23.85%.

In related news, CFO Jeffrey C. Campbell sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 1st. The shares were sold at an average price of $98.05, for a total value of $882,450.00. Following the sale, the chief financial officer now owns 79,978 shares of the company’s stock, valued at $7,841,842.90. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Douglas E. Buckminster sold 3,804 shares of the firm’s stock in a transaction that occurred on Wednesday, May 30th. The shares were sold at an average price of $99.03, for a total transaction of $376,710.12. Following the completion of the sale, the insider now directly owns 19,514 shares in the company, valued at approximately $1,932,471.42. The disclosure for this sale can be found here. Insiders have sold 80,936 shares of company stock worth $8,082,400 in the last three months. Corporate insiders own 0.20% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. BlackRock Inc. raised its holdings in American Express by 1.0% in the first quarter. BlackRock Inc. now owns 43,504,697 shares of the payment services company’s stock valued at $4,058,115,000 after acquiring an additional 414,196 shares in the last quarter. Veritas Asset Management LLP raised its holdings in American Express by 9.0% in 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 in the last quarter. Geode Capital Management LLC raised its holdings in American Express by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 7,700,608 shares of the payment services company’s stock worth $763,153,000 after purchasing an additional 382,691 shares in the last quarter. Clearbridge Investments LLC raised its holdings in American Express by 3.9% during the fourth quarter. Clearbridge Investments LLC now owns 5,655,948 shares of the payment services company’s stock worth $561,692,000 after purchasing an additional 209,808 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its holdings in 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 worth $526,879,000 after purchasing an additional 1,968,718 shares in the last quarter. 82.87% of the stock is currently owned by hedge funds and other institutional investors.

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.

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