Traders Buy Shares of American Express Co. (AXP) on Weakness
Investors purchased shares of American Express Co. (NYSE:AXP) on weakness during trading on Tuesday. $40.63 million flowed into the stock on the tick-up and $27.51 million flowed out of the stock on the tick-down, for a money net flow of $13.12 million into the stock. Of all equities tracked, American Express had the 26th highest net in-flow for the day. American Express traded down ($0.44) for the day and closed at $65.39
Several research analysts have commented on AXP shares. Vetr downgraded American Express from a “buy” rating to a “hold” rating and set a $63.85 target price for the company. in a research note on Wednesday, April 13th. Compass Point started coverage on American Express in a research note on Friday, April 15th. They set a “buy” rating and a $69.00 target price for the company. Keefe, Bruyette & Woods boosted their target price on American Express from $67.00 to $74.00 and gave the stock a “market perform” rating in a research note on Thursday, April 21st. Morgan Stanley upped their price objective on American Express from $64.00 to $68.00 and gave the company an “equal weight” rating in a research note on Thursday, April 21st. Finally, DA Davidson upped their price objective on American Express from $66.00 to $67.00 and gave the company a “neutral” rating in a research note on Thursday, April 21st. Six investment analysts have rated the stock with a sell rating, twenty have given a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $70.40.
The firm has a market capitalization of $60.41 billion and a PE ratio of 11.57. The stock’s 50 day moving average is $62.71 and its 200 day moving average is $61.07.
American Express (NYSE:AXP) last posted its earnings results on Wednesday, July 20th. The payment services company reported $2.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.95 by $0.15. During the same period last year, the firm posted $1.42 earnings per share. The business had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.33 billion. American Express’s quarterly revenue was down .6% on a year-over-year basis. On average, equities research analysts predict that American Express Co. will post $5.50 earnings per share for the current year.
In related news, insider Susan Sobbott sold 14,682 shares of the stock in a transaction dated 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 sale, the insider now owns 51,552 shares in the company, valued at $3,376,656. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kenneth I. Chenault sold 838,968 shares of the stock in a transaction dated Thursday, May 19th. The stock was sold at an average price of $62.65, for a total value of $52,561,345.20. Following the sale, the chief executive officer now owns 1,444,572 shares of the company’s stock, valued at approximately $90,502,435.80. The disclosure for this sale can be found here.
Several large investors recently bought and sold shares of the stock. OppenheimerFunds Inc. bought a new stake in American Express during the fourth quarter valued at about $1,847,000. Private Advisor Group LLC increased its position in American Express by 8.8% in the fourth quarter. Private Advisor Group LLC now owns 22,881 shares of the payment services company’s stock valued at $1,591,000 after buying an additional 1,851 shares during the last quarter. RidgeWorth Capital Management LLC increased its position in American Express by 1,209.8% in the fourth quarter. RidgeWorth Capital Management LLC now owns 856,182 shares of the payment services company’s stock valued at $59,547,000 after buying an additional 790,816 shares during the last quarter. SVA Plumb Wealth Management LLC increased its position in American Express by 4.9% in the fourth quarter. SVA Plumb Wealth Management LLC now owns 61,963 shares of the payment services company’s stock valued at $4,310,000 after buying an additional 2,875 shares during the last quarter. Finally, Harris Associates L P increased its position in American Express by 10.5% in the fourth quarter. Harris Associates L P now owns 6,472,713 shares of the payment services company’s stock valued at $450,177,000 after buying an additional 617,445 shares during 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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