American Express Company (NYSE:AXP) EVP Linda Zukauckas sold 3,196 shares of American Express stock in a transaction on Friday, October 27th. The shares were sold at an average price of $95.42, for a total value of $304,962.32. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
American Express (NYSE:AXP) last released its quarterly earnings data on Wednesday, October 18th. The payment services company reported $1.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.03. The business had revenue of $8.44 billion during the quarter, compared to analyst estimates of $8.31 billion. American Express had a return on equity of 22.73% and a net margin of 14.48%. The company’s revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the business posted $1.24 EPS.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 10th. Shareholders of record on Friday, October 6th will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, October 5th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.47%. This is a positive change from American Express’s previous quarterly dividend of $0.32. American Express’s dividend payout ratio (DPR) is presently 26.97%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Matthew Goff Investment Advisor LLC purchased a new position in shares of American Express during the 1st quarter valued at about $2,543,000. Bronfman E.L. Rothschild L.P. grew its position in shares of American Express by 10.8% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 5,669 shares of the payment services company’s stock valued at $478,000 after acquiring an additional 554 shares during the period. Vanguard Group Inc. grew its position in shares of American Express by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 49,502,529 shares of the payment services company’s stock valued at $3,916,145,000 after acquiring an additional 722,235 shares during the period. Rothschild Asset Management Inc. grew its position in shares of American Express by 19.5% during the 1st quarter. Rothschild Asset Management Inc. now owns 641,409 shares of the payment services company’s stock valued at $50,742,000 after acquiring an additional 104,647 shares during the period. Finally, First Citizens Bank & Trust Co. acquired a new stake in shares of American Express during the 2nd quarter valued at about $215,000. Institutional investors and hedge funds own 83.06% of the company’s stock.
AXP has been the subject of a number of recent research reports. Morgan Stanley lowered their price objective on American Express from $90.00 to $89.00 and set an “equal weight” rating for the company in a research note on Friday, September 8th. Credit Suisse Group reiterated an “underperform” rating and set a $84.00 price objective (up previously from $79.00) on shares of American Express in a research note on Thursday, October 19th. Bank of America Corporation reiterated a “buy” rating and set a $102.00 price objective on shares of American Express in a research note on Monday, October 9th. BidaskClub cut American Express from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, Zacks Investment Research cut American Express from a “buy” rating to a “hold” rating in a research note on Wednesday, August 30th. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. American Express has an average rating of “Hold” and an average target price of $91.56.
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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