Investors Sell Shares of American Express (AXP) on Strength After Insider Selling

Investors sold shares of American Express Company (NYSE:AXP) on strength during trading hours on Monday after an insider sold shares in the company. $44.81 million flowed into the stock on the tick-up and $113.00 million flowed out of the stock on the tick-down, for a money net flow of $68.19 million out of the stock. Of all stocks tracked, American Express had the 0th highest net out-flow for the day. American Express traded up $1.16 for the day and closed at $99.68Specifically, insider James Peter Bush sold 10,230 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $90.55, for a total value of $926,326.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Anre D. Williams sold 30,761 shares of the firm’s stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $93.41, for a total transaction of $2,873,385.01. Following the completion of the transaction, the insider now directly owns 28,720 shares of the company’s stock, valued at $2,682,735.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 440,310 shares of company stock valued at $42,478,329. Insiders own 0.67% of the company’s stock.

AXP has been the topic of several research reports. Zacks Investment Research cut shares of American Express from a “buy” rating to a “hold” rating in a research report on Wednesday, August 30th. Morgan Stanley lowered their price objective on shares of American Express from $90.00 to $89.00 and set an “equal weight” rating on the stock in a research report on Friday, September 8th. Credit Suisse Group restated an “underperform” rating and set a $84.00 price objective (up previously from $79.00) on shares of American Express in a research report on Thursday, October 19th. Oppenheimer set a $99.00 price objective on shares of American Express and gave the company a “buy” rating in a research report on Thursday, October 19th. Finally, Stephens set a $89.00 price objective on shares of American Express and gave the company a “hold” rating in a research report on Thursday, October 19th. Three equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the stock. American Express currently has an average rating of “Hold” and an average target price of $92.44.

The company has a market capitalization of $85,475.93, a PE ratio of 18.86, a P/E/G ratio of 1.64 and a beta of 1.22. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 2.31.

American Express (NYSE:AXP) last issued its earnings results on Wednesday, October 18th. The payment services company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.03. The company had revenue of $8.44 billion for the quarter, compared to analysts’ expectations of $8.31 billion. American Express had a net margin of 14.48% and a return on equity of 22.73%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.24 EPS. equities research analysts forecast that American Express Company will post 5.86 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, January 5th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Thursday, January 4th. American Express’s payout ratio is presently 26.97%.

A number of large investors have recently modified their holdings of AXP. Matthew Goff Investment Advisor LLC purchased a new position in shares of American Express in the first quarter valued at about $2,543,000. Bronfman E.L. Rothschild L.P. increased its position in shares of American Express by 10.8% in the second 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. increased its position in shares of American Express by 1.5% in the first 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. Shelton Capital Management purchased a new position in shares of American Express in the second quarter valued at about $670,000. Finally, Rothschild Asset Management Inc. increased its position in shares of American Express by 19.5% in the first 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. Institutional investors own 83.35% of the company’s stock.

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About American Express

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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