American Express (NYSE:AXP) Sees Significant Increase in Short Interest

American Express (NYSE:AXP) saw a large increase in short interest during the month of July. As of July 31st, there was short interest totalling 5,752,300 shares, an increase of 5.2% from the June 30th total of 5,470,000 shares. Based on an average daily trading volume, of 3,140,000 shares, the short-interest ratio is presently 1.8 days. Approximately 0.7% of the shares of the stock are short sold.

In related news, insider Laureen Seeger sold 44,584 shares of American Express stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $119.25, for a total value of $5,316,642.00. Following the sale, the insider now directly owns 80,375 shares in the company, valued at approximately $9,584,718.75. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Stephen J. Squeri sold 101,964 shares of American Express stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $119.95, for a total value of $12,230,581.80. Following the completion of the sale, the chairman now owns 258,948 shares in the company, valued at $31,060,812.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 190,548 shares of company stock worth $22,910,322. 0.21% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the company. Camarda Financial Advisors LLC purchased a new stake in shares of American Express during the 1st quarter valued at approximately $26,000. Creative Financial Designs Inc. ADV purchased a new stake in shares of American Express during the 1st quarter valued at approximately $28,000. HMS Capital Management LLC purchased a new stake in shares of American Express during the 2nd quarter valued at approximately $37,000. Edge Wealth Management LLC raised its position in shares of American Express by 140.3% during the 2nd quarter. Edge Wealth Management LLC now owns 370 shares of the payment services company’s stock valued at $46,000 after buying an additional 216 shares during the period. Finally, Virtus ETF Advisers LLC purchased a new stake in shares of American Express during the 2nd quarter valued at approximately $48,000. 84.26% of the stock is currently owned by hedge funds and other institutional investors.

AXP traded down $0.51 during trading on Thursday, reaching $122.14. The company’s stock had a trading volume of 766,434 shares, compared to its average volume of 3,534,447. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 2.50. The stock has a fifty day simple moving average of $125.57. American Express has a 1 year low of $89.05 and a 1 year high of $129.34. The company has a market capitalization of $102.84 billion, a P/E ratio of 16.66, a price-to-earnings-growth ratio of 1.39 and a beta of 1.05.

American Express (NYSE:AXP) last released its earnings results on Friday, July 19th. The payment services company reported $2.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.05 by $0.02. The business had revenue of $10.84 billion for the quarter, compared to analyst estimates of $10.82 billion. American Express had a net margin of 16.60% and a return on equity of 29.75%. The business’s revenue was up 8.4% on a year-over-year basis. During the same period last year, the company posted $1.84 EPS. On average, equities analysts expect that American Express will post 8.14 earnings per share for the current fiscal year.

Several equities research analysts recently issued reports on the company. Deutsche Bank assumed coverage on American Express in a report on Monday, July 8th. They issued a “buy” rating and a $142.00 price objective on the stock. BMO Capital Markets raised their target price on shares of American Express to $119.00 and gave the stock a “market perform” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. decreased their target price on shares of American Express from $135.00 to $132.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. Morgan Stanley set a $142.00 target price on shares of American Express and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, Royal Bank of Canada raised their target price on shares of American Express from $120.00 to $125.00 and gave the stock a “sector perform” rating in a research note on Monday, July 22nd. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the stock. American Express has an average rating of “Hold” and an average target price of $124.49.

American Express Company Profile

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 three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.

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