Traders Sell American Express Co. (AXP) on Strength (AXP)
Traders sold shares of American Express Co. (NYSE:AXP) on strength during trading hours 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
AXP has been the topic of several research reports. Deutsche Bank AG reissued a “buy” rating on shares of American Express in a research note on Saturday, April 9th. Vetr lowered American Express from a “buy” rating to a “hold” rating and set a $63.85 target price on the stock. in a research note on Wednesday, April 13th. Compass Point initiated coverage on American Express in a research note on Friday, April 15th. They issued a “buy” rating and a $69.00 target price on the stock. Keefe, Bruyette & Woods increased their target price on American Express from $67.00 to $74.00 and gave the company a “market perform” rating in a research note on Thursday, April 21st. Finally, Morgan Stanley increased their target price 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. Six equities research 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. The stock has a consensus rating of “Hold” and a consensus target price of $70.40.
The company has a market capitalization of $60.53 billion and a PE ratio of 11.59. The firm’s 50-day moving average is $62.51 and its 200 day moving average is $60.99.
American Express (NYSE:AXP) last announced its quarterly earnings data on Wednesday, July 20th. The payment services company reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.15. The firm earned $8.20 billion during the quarter, compared to analysts’ expectations of $8.33 billion. During the same quarter in the previous year, the firm earned $1.42 earnings per share. American Express’s revenue was down .6% on a year-over-year basis. Equities analysts anticipate that American Express Co. will post $5.50 earnings per share for the current fiscal year.
In other American Express news, CEO Kenneth I. Chenault sold 838,968 shares of American Express stock in a transaction that occurred 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 of the company’s stock, valued at approximately $90,502,435.80. 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 American Express stock in a transaction that occurred 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 sale, the insider now directly owns 51,552 shares of the company’s stock, valued at approximately $3,376,656. The disclosure for this sale can be found here.
Other large investors recently bought and sold shares of the company. OppenheimerFunds Inc. bought a new stake in American Express during the fourth quarter worth approximately $1,847,000. Vaughan David Investments Inc. IL increased its stake in American Express by 2.0% in the fourth quarter. Vaughan David Investments Inc. IL now owns 235,506 shares of the payment services company’s stock worth $16,379,000 after buying an additional 4,650 shares during the period. Private Advisor Group LLC increased its stake 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 worth $1,591,000 after buying an additional 1,851 shares during the period. RidgeWorth Capital Management LLC increased its stake 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 worth $59,547,000 after buying an additional 790,816 shares during the period. Finally, SVA Plumb Wealth Management LLC increased its stake 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 worth $4,310,000 after buying an additional 2,875 shares during the period.
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).
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.