American Express Co. (AXP) Increases Dividend to $0.32 Per Share
American Express Co. (NYSE:AXP) announced a quarterly dividend on Tuesday, September 27th. Stockholders of record on Friday, October 7th will be given a dividend of 0.32 per share by the payment services company on Thursday, November 10th. This represents a $1.28 annualized dividend and a dividend yield of 1.99%. This is an increase from American Express’s previous quarterly dividend of $0.29.
Shares of American Express (NYSE:AXP) opened at 64.28 on Wednesday. The stock has a market cap of $59.38 billion, a price-to-earnings ratio of 11.37 and a beta of 1.24. American Express has a 52-week low of $50.27 and a 52-week high of $77.85. The stock’s 50 day moving average is $64.98 and its 200 day moving average is $63.48.
American Express (NYSE:AXP) last posted its quarterly earnings results on Wednesday, July 20th. The payment services company reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.15. American Express had a return on equity of 28.00% and a net margin of 16.73%. The business had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.33 billion. During the same quarter in the prior year, the company earned $1.42 EPS. The business’s revenue was down .6% compared to the same quarter last year. On average, equities analysts predict that American Express will post $5.51 EPS for the current fiscal year.
AXP has been the topic of a number of recent research reports. Piper Jaffray Cos. reissued a “hold” rating and set a $71.00 price target on shares of American Express in a research report on Wednesday, September 7th. William Blair reaffirmed an “outperform” rating on shares of American Express in a research report on Thursday, July 21st. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $74.00 price objective on shares of American Express in a research report on Monday, September 12th. Deutsche Bank AG reaffirmed a “hold” rating on shares of American Express in a research report on Wednesday, June 15th. Finally, Atlantic Securities initiated coverage on American Express in a research report on Friday, September 9th. They set an “underweight” rating and a $62.00 price objective on the stock. Seven investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $68.70.
Several hedge funds have recently bought and sold shares of AXP. Arvest Bank Trust Division boosted its stake in American Express by 0.4% in the second quarter. Arvest Bank Trust Division now owns 208,646 shares of the payment services company’s stock worth $12,678,000 after buying an additional 817 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its stake in American Express by 16.5% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,145,145 shares of the payment services company’s stock worth $191,099,000 after buying an additional 446,100 shares during the period. Point72 Asset Management L.P. acquired a new stake in American Express during the second quarter worth approximately $3,038,000. National Asset Management Inc. boosted its stake in American Express by 19.2% in the second quarter. National Asset Management Inc. now owns 8,090 shares of the payment services company’s stock worth $493,000 after buying an additional 1,303 shares during the period. Finally, AHL Partners LLP acquired a new stake in American Express during the second quarter worth approximately $364,000. Institutional investors and hedge funds own 82.18% of the company’s stock.
American Express Company Profile
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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