Stephen J. Squeri Sells 38,873 Shares of American Express (NYSE:AXP) Stock

American Express (NYSE:AXP) CEO Stephen J. Squeri sold 38,873 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $238.63, for a total transaction of $9,276,263.99. Following the transaction, the chief executive officer now owns 76,310 shares of the company’s stock, valued at approximately $18,209,855.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

American Express Price Performance

Shares of AXP traded down $2.02 during trading hours on Thursday, reaching $237.10. The company had a trading volume of 3,311,667 shares, compared to its average volume of 3,185,836. The firm has a 50 day simple moving average of $221.62 and a 200-day simple moving average of $190.53. The company has a current ratio of 1.62, a quick ratio of 1.63 and a debt-to-equity ratio of 1.70. The company has a market capitalization of $170.55 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 1.36 and a beta of 1.23. American Express has a 12-month low of $140.91 and a 12-month high of $240.55.

American Express (NYSE:AXP) last issued its quarterly earnings data on Friday, April 19th. The payment services company reported $3.33 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.36. The firm had revenue of $15.80 billion for the quarter, compared to analysts’ expectations of $15.79 billion. American Express had a net margin of 14.50% and a return on equity of 32.46%. The firm’s revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.40 EPS. Research analysts expect that American Express will post 12.98 earnings per share for the current year.

American Express Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 5th will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.40 annualized dividend and a dividend yield of 0.17%. American Express’s dividend payout ratio is presently 23.06%.

Analyst Upgrades and Downgrades

AXP has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their price target on shares of American Express from $214.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, April 3rd. Oppenheimer reiterated an “outperform” rating on shares of American Express in a report on Friday, April 5th. DZ Bank cut shares of American Express from a “hold” rating to a “sell” rating in a report on Thursday, January 4th. BMO Capital Markets upped their target price on shares of American Express from $167.00 to $175.00 and gave the company an “underperform” rating in a report on Monday. Finally, UBS Group increased their price target on shares of American Express from $188.00 to $206.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $209.52.

Institutional Investors Weigh In On American Express

Several hedge funds have recently modified their holdings of AXP. Game Plan Financial Advisors LLC raised its holdings in American Express by 62.5% in the first quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock valued at $30,000 after buying an additional 50 shares during the period. Scarborough Advisors LLC purchased a new position in American Express in the fourth quarter valued at approximately $25,000. BKM Wealth Management LLC purchased a new stake in shares of American Express during the fourth quarter valued at approximately $28,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of American Express during the fourth quarter valued at approximately $28,000. Finally, Sachetta LLC purchased a new stake in shares of American Express during the fourth quarter valued at approximately $29,000. 84.33% of the stock is owned by institutional investors and hedge funds.

About American Express

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.