American Express Co. (AXP) Insider Susan Sobbott Sells 19,186 Shares
American Express Co. (NYSE:AXP) insider Susan Sobbott sold 19,186 shares of the firm’s stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $70.45, for a total transaction of $1,351,653.70. Following the completion of the sale, the insider now owns 56,870 shares in the company, valued at approximately $4,006,491.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
American Express Co. (NYSE:AXP) opened at 72.42 on Tuesday. American Express Co. has a 1-year low of $50.27 and a 1-year high of $73.35. The stock has a market capitalization of $66.28 billion, a PE ratio of 12.87 and a beta of 1.19. The firm has a 50-day moving average of $64.58 and a 200-day moving average of $64.20.
American Express (NYSE:AXP) last announced its quarterly earnings results on Wednesday, October 19th. The payment services company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.28. American Express had a net margin of 16.67% and a return on equity of 27.84%. The firm earned $7.80 billion during the quarter, compared to analyst estimates of $7.70 billion. During the same period in the previous year, the business posted $1.24 earnings per share. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. Equities analysts expect that American Express Co. will post $5.73 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Friday, October 7th were issued a $0.32 dividend. This is an increase from American Express’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Wednesday, October 5th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.77%. American Express’s dividend payout ratio (DPR) is presently 22.70%.
AXP has been the topic of a number of research analyst reports. Nomura lowered shares of American Express from a “neutral” rating to a “reduce” rating and cut their target price for the company from $62.00 to $56.00 in a research report on Thursday, October 6th. Bank of America Corp. upgraded shares of American Express from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $65.00 to $68.00 in a report on Thursday, October 20th. Credit Suisse Group AG reiterated a “sell” rating and set a $62.00 price target on shares of American Express in a report on Friday, September 16th. Evercore ISI reiterated a “hold” rating on shares of American Express in a report on Saturday, October 15th. Finally, Zacks Investment Research upgraded shares of American Express from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Monday, October 24th. Seven equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $67.18.
Several institutional investors have recently bought and sold shares of the company. Kistler Tiffany Companies LLC increased its position in American Express by 13.6% in the second quarter. Kistler Tiffany Companies LLC now owns 2,625 shares of the payment services company’s stock worth $159,000 after buying an additional 315 shares during the last quarter. Iowa State Bank increased its position in American Express by 4.1% in the second quarter. Iowa State Bank now owns 19,438 shares of the payment services company’s stock worth $1,181,000 after buying an additional 760 shares during the last quarter. Lebenthal Asset Management LLC acquired a new position in American Express during the first quarter worth about $4,796,000. Kovitz Investment Group Partners LLC acquired a new position in American Express during the first quarter worth about $50,879,000. Finally, Cullinan Associates Inc. increased its position in American Express by 7.3% in the first quarter. Cullinan Associates Inc. now owns 107,277 shares of the payment services company’s stock worth $6,587,000 after buying an additional 7,300 shares during the last quarter. 82.99% of the stock is currently owned by institutional investors.
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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