American Express (AXP) Sets New 1-Year High at $99.92
American Express Company (NYSE:AXP) shares hit a new 52-week high on Monday . The stock traded as high as $99.92 and last traded at $99.90, with a volume of 1580801 shares. The stock had previously closed at $98.52.
Several research analysts have recently weighed in on AXP shares. Morgan Stanley cut 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 report on Friday, September 8th. Zacks Investment Research lowered shares of American Express from a “buy” rating to a “hold” rating in a report on Wednesday, August 30th. Credit Suisse Group reiterated a “sell” rating and set a $79.00 price objective on shares of American Express in a report on Wednesday, October 4th. Atlantic Securities upgraded shares of American Express from an “underweight” rating to a “neutral” rating and set a $100.00 price objective on the stock in a report on Tuesday, October 24th. Finally, Wells Fargo & Company started coverage on shares of American Express in a report on Tuesday, October 10th. They set an “outperform” rating and a $105.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $92.44.
The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market cap of $85,475.90, a PE ratio of 18.86, a PEG ratio of 1.64 and a beta of 1.22.
American Express (NYSE:AXP) last issued its quarterly earnings data on Wednesday, October 18th. The payment services company reported $1.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.03. American Express had a net margin of 14.48% and a return on equity of 22.73%. The company had revenue of $8.44 billion during the quarter, compared to the consensus estimate of $8.31 billion. During the same quarter last year, the company earned $1.24 earnings per share. American Express’s revenue for the quarter was up 8.5% on a year-over-year basis. equities analysts anticipate that American Express Company will post 5.86 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, January 5th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Thursday, January 4th. American Express’s dividend payout ratio (DPR) is 26.97%.
In other American Express news, insider James Peter Bush sold 10,230 shares of the stock in a transaction that occurred 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 accessible through the SEC website. Also, EVP Linda Zukauckas sold 3,196 shares of the stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $95.42, for a total transaction of $304,962.32. The disclosure for this sale can be found here. Insiders sold 343,870 shares of company stock valued at $33,094,717 in the last ninety days. 0.67% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in AXP. BlackRock Inc. grew its position in shares of American Express by 2,686.0% during the first quarter. BlackRock Inc. now owns 44,177,867 shares of the payment services company’s stock worth $3,494,913,000 after buying an additional 42,592,136 shares in the last quarter. Veritas Asset Management LLP boosted its holdings in American Express by 15.2% in the second quarter. Veritas Asset Management LLP now owns 10,303,201 shares of the payment services company’s stock worth $867,942,000 after purchasing an additional 1,358,474 shares during the period. Renaissance Technologies LLC acquired a new position in American Express in the second quarter worth $101,526,000. Canada Pension Plan Investment Board boosted its holdings in American Express by 944,765.8% in the second quarter. Canada Pension Plan Investment Board now owns 1,077,147 shares of the payment services company’s stock worth $90,739,000 after purchasing an additional 1,077,033 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in American Express by 55.9% in the third quarter. Janus Henderson Group PLC now owns 2,675,599 shares of the payment services company’s stock worth $242,003,000 after purchasing an additional 959,824 shares during the period. 83.51% of the stock is owned by institutional investors and hedge funds.
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American Express Company Profile
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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