Traders purchased shares of American Express (NYSE:AXP) on weakness during trading on Friday. $129.97 million flowed into the stock on the tick-up and $70.61 million flowed out of the stock on the tick-down, for a money net flow of $59.36 million into the stock. Of all stocks tracked, American Express had the 32nd highest net in-flow for the day. American Express traded down ($0.96) for the day and closed at $90.45
A number of brokerages have weighed in on AXP. Zacks Investment Research downgraded American Express from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. JPMorgan Chase & Co. downgraded American Express from an “overweight” rating to a “neutral” rating and set a $90.00 target price for the company. in a report on Friday, January 12th. Sandler O’Neill reiterated a “buy” rating on shares of American Express in a report on Wednesday, January 17th. Barclays set a $119.00 target price on American Express and gave the stock an “equal weight” rating in a report on Thursday, January 11th. Finally, Wells Fargo reiterated an “outperform” rating and issued a $115.00 target price (up from $105.00) on shares of American Express in a report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $103.89.
The company has a market cap of $81,502.81, a PE ratio of 31.19, a PEG ratio of 1.29 and a beta of 1.16. The company has a debt-to-equity ratio of 3.06, a quick ratio of 1.93 and a current ratio of 1.93.
American Express (NYSE:AXP) last announced its earnings results on Thursday, January 18th. The payment services company reported $1.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.54 by $0.04. The company had revenue of $8.84 billion for the quarter, compared to analysts’ expectations of $8.73 billion. American Express had a return on equity of 26.00% and a net margin of 8.08%. American Express’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.91 earnings per share. equities research analysts forecast that American Express will post 7.15 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 10th. Investors of record on Friday, April 6th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, April 5th. This represents a $1.40 annualized dividend and a dividend yield of 1.55%. American Express’s payout ratio is 48.28%.
In related news, insider James Peter Bush sold 13,356 shares of American Express stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $98.65, for a total transaction of $1,317,569.40. Following the transaction, the insider now owns 100,790 shares of the company’s stock, valued at $9,942,933.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.67% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in AXP. ETF Managers Group LLC purchased a new position in shares of American Express during the second quarter valued at approximately $8,078,000. Monetary Management Group Inc. boosted its position in American Express by 3.4% in the second quarter. Monetary Management Group Inc. now owns 27,785 shares of the payment services company’s stock worth $2,341,000 after purchasing an additional 925 shares during the last quarter. Maverick Capital Ltd. boosted its position in American Express by 146.1% in the second quarter. Maverick Capital Ltd. now owns 20,770 shares of the payment services company’s stock worth $1,750,000 after purchasing an additional 12,330 shares during the last quarter. Carret Asset Management LLC boosted its position in American Express by 3.3% in the second quarter. Carret Asset Management LLC now owns 71,182 shares of the payment services company’s stock worth $5,996,000 after purchasing an additional 2,268 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its position in American Express by 149.7% in the second quarter. Cubist Systematic Strategies LLC now owns 10,380 shares of the payment services company’s stock worth $874,000 after purchasing an additional 6,223 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors.
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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