American Express Co. (AXP) Shares Gap Up to $63.94
American Express Co. (NYSE:AXP) shares gapped up before the market opened on Friday . The stock had previously closed at $63.61, but opened at $63.94. American Express shares last traded at $65.59, with a volume of 2,772,107 shares trading hands.
Several research analysts recently commented on the company. Deutsche Bank AG reissued a “buy” rating on shares of American Express in a research report on Saturday, April 9th. Vetr raised American Express from a “sell” rating to a “hold” rating and set a $62.55 price target for the company in a research report on Wednesday, May 4th. Nomura reissued a “hold” rating on shares of American Express in a research report on Saturday, July 9th. William Blair reissued an “outperform” rating on shares of American Express in a research report on Thursday, April 21st. Finally, Oppenheimer Holdings Inc. reissued a “hold” rating on shares of American Express in a research report on Thursday, July 21st. Six equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $70.40.
The firm has a market capitalization of $60.53 billion and a PE ratio of 11.59. The firm has a 50-day moving average of $62.51 and a 200-day moving average of $60.99.
American Express (NYSE:AXP) last released its quarterly earnings results on Wednesday, July 20th. The payment services company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.15. The firm earned $8.20 billion during the quarter, compared to the consensus estimate of $8.33 billion. During the same period in the previous year, the company posted $1.42 EPS. The company’s revenue for the quarter was down .6% compared to the same quarter last year. On average, equities research analysts predict that American Express Co. will post $5.50 earnings per share for the current year.
In other news, EVP Michael John O’neill sold 51,690 shares of the company’s stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $64.95, for a total value of $3,357,265.50. Following the transaction, the executive vice president now owns 46,929 shares of the company’s stock, valued at $3,048,038.55. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Susan Sobbott sold 14,682 shares of the company’s stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $65.50, for a total transaction of $961,671.00. Following the completion of the transaction, the insider now directly owns 51,552 shares in the company, valued at approximately $3,376,656. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. Cambridge Trust Co. boosted its position in American Express by 18.9% in the fourth quarter. Cambridge Trust Co. now owns 15,862 shares of the payment services company’s stock worth $1,104,000 after buying an additional 2,517 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in American Express by 0.3% in the fourth quarter. Ameritas Investment Partners Inc. now owns 16,164 shares of the payment services company’s stock worth $1,124,000 after buying an additional 50 shares in the last quarter. Arcus Capital Partners LLC purchased a new position in American Express during the fourth quarter worth approximately $1,132,000. Matarin Capital Management LLC purchased a new position in American Express during the fourth quarter worth approximately $1,234,000. Finally, Levin Capital Strategies L.P. boosted its position in American Express by 9.6% in the fourth quarter. Levin Capital Strategies L.P. now owns 21,696 shares of the payment services company’s stock worth $1,509,000 after buying an additional 1,900 shares in the last quarter.
American Express Company is a services company. The Company’s principal products and services are charge and credit payment card products, and travel-related services offered to consumers and businesses around the world. The Company’s segments include U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).
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