American Express Co. (AXP) Insider Sells $10,555,048.40 in Stock
American Express Co. (NYSE:AXP) insider Ashwini Gupta sold 146,030 shares of the company’s stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $72.28, for a total transaction of $10,555,048.40. Following the transaction, the insider now owns 298,910 shares of the company’s stock, valued at approximately $21,605,214.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Ashwini Gupta also recently made the following trade(s):
- On Friday, October 21st, Ashwini Gupta sold 140,808 shares of American Express stock. The stock was sold at an average price of $67.18, for a total transaction of $9,459,481.44.
Shares of American Express Co. (NYSE:AXP) opened at 71.78 on Friday. The company’s 50-day moving average is $65.27 and its 200 day moving average is $64.32. The firm has a market capitalization of $65.70 billion, a price-to-earnings ratio of 12.75 and a beta of 1.19. American Express Co. has a 52 week low of $50.27 and a 52 week high of $73.35.
American Express (NYSE:AXP) last released its quarterly earnings data on Wednesday, October 19th. The payment services company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.28. American Express had a net margin of 16.67% and a return on equity of 27.84%. The company earned $7.80 billion during the quarter, compared to the consensus estimate of $7.70 billion. During the same period in the previous year, the firm earned $1.24 earnings per share. American Express’s revenue for the quarter was down 5.1% on a year-over-year basis. Analysts anticipate 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. Shareholders of record on Friday, October 7th were paid a dividend of $0.32 per share. This is an increase from American Express’s previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend was Wednesday, October 5th. American Express’s payout ratio is currently 22.70%.
A number of large investors have recently added to or reduced their stakes in AXP. Quantitative Systematic Strategies LLC acquired a new stake in American Express during the third quarter valued at about $350,000. LPL Financial LLC increased its stake in American Express by 70.7% in the third quarter. LPL Financial LLC now owns 51,732 shares of the payment services company’s stock valued at $3,306,000 after buying an additional 21,434 shares in the last quarter. Cannell Capital LLC acquired a new stake in American Express during the third quarter valued at about $530,000. Covington Capital Management increased its stake in American Express by 13.3% in the third quarter. Covington Capital Management now owns 39,442 shares of the payment services company’s stock valued at $2,526,000 after buying an additional 4,625 shares in the last quarter. Finally, Balentine LLC increased its stake in American Express by 182.3% in the third quarter. Balentine LLC now owns 9,657 shares of the payment services company’s stock valued at $618,000 after buying an additional 6,236 shares in the last quarter. Institutional investors own 82.99% of the company’s stock.
Several research analysts recently weighed in on AXP shares. Vetr upgraded shares of American Express from a “strong sell” rating to a “sell” rating and set a $57.00 price target for the company in a research report on Tuesday, October 18th. JPMorgan Chase & Co. restated a “neutral” rating on shares of American Express in a research report on Saturday, October 22nd. Credit Suisse Group AG restated a “sell” rating and set a $62.00 price target on shares of American Express in a research report on Friday, September 16th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $74.00 price target on shares of American Express in a research report on Monday, September 12th. Finally, Piper Jaffray Cos. restated a “hold” rating and set a $71.00 price target on shares of American Express in a research report on Wednesday, September 7th. Seven investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $67.18.
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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