Investors Sell Shares of American Express Co. (AXP) on Strength (AXP)
Traders sold shares of American Express Co. (NYSE:AXP) on strength during trading on Friday. $48.01 million flowed into the stock on the tick-up and $70.14 million flowed out of the stock on the tick-down, for a money net flow of $22.13 million out of the stock. Of all equities tracked, American Express had the 0th highest net out-flow for the day. American Express traded up $1.58 for the day and closed at $65.52
Several equities analysts recently issued reports on AXP shares. Sanford C. Bernstein reiterated a “buy” rating and issued a $77.00 price objective on shares of American Express in a research report on Thursday, April 21st. Vetr lowered American Express from a “buy” rating to a “hold” rating and set a $63.85 price objective for the company. in a research report on Wednesday, April 13th. JPMorgan Chase & Co. reiterated a “hold” rating on shares of American Express in a research report on Thursday, June 30th. Jefferies Group reaffirmed a “hold” rating and set a $60.00 price target (up previously from $58.00) on shares of American Express in a research report on Thursday, April 21st. Finally, Goldman Sachs Group Inc. reduced their price target on American Express from $64.00 to $62.00 and set a “neutral” rating for the company in a research report on Thursday, April 21st. Six analysts have rated the stock with a sell rating, twenty have given a hold rating and nine have assigned a buy rating to the company. American Express has a consensus rating of “Hold” and a consensus price target of $70.40.
The stock has a market capitalization of $60.53 billion and a PE ratio of 11.59. The company’s 50-day moving average is $62.51 and its 200-day moving average is $60.99.
American Express (NYSE:AXP) last issued 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. The firm earned $8.20 billion during the quarter, compared to the consensus estimate of $8.33 billion. During the same quarter in the previous year, the firm earned $1.42 earnings per share. The business’s quarterly revenue was down .6% compared to the same quarter last year. Analysts anticipate that American Express Co. will post $5.50 EPS for the current fiscal year.
In other American Express news, EVP Michael John O’neill sold 51,690 shares of the business’s stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $64.95, for a total value of $3,357,265.50. Following the sale, the executive vice president now directly owns 46,929 shares in the company, valued at $3,048,038.55. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Kenneth I. Chenault sold 838,968 shares of the business’s stock in a transaction on Thursday, May 19th. The shares were sold at an average price of $62.65, for a total value of $52,561,345.20. Following the completion of the sale, the chief executive officer now owns 1,444,572 shares in the company, valued at $90,502,435.80. The disclosure for this sale can be found here.
Other hedge funds recently added to or reduced their stakes in the company. Cambridge Trust Co. raised its stake 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 during the last quarter. Ameritas Investment Partners Inc. raised its stake 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 during the last quarter. Arcus Capital Partners LLC bought a new stake in American Express during the fourth quarter worth about $1,132,000. Matarin Capital Management LLC bought a new stake in American Express during the fourth quarter worth about $1,234,000. Finally, Levin Capital Strategies L.P. raised its stake 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 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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