American Express (AXP) Shares Gap Down to $98.03
American Express Company (NYSE:AXP) gapped down before the market opened on Friday . The stock had previously closed at $99.05, but opened at $98.03. American Express shares last traded at $98.03, with a volume of 12292242 shares traded.
Several research firms have recently weighed in on AXP. Barclays set a $93.00 price objective on American Express and gave the stock a “hold” rating in a research note on Thursday, October 19th. Bank of America raised their price objective on American Express from $102.00 to $106.00 and gave the stock a “buy” rating in a research note on Thursday, October 19th. Jefferies Group reissued an “in-line” rating and set a $93.00 price objective (up from $85.00) on shares of American Express in a research note on Thursday, October 19th. Buckingham Research started coverage on American Express in a research note on Monday, October 2nd. They set a “neutral” rating and a $92.00 price objective for the company. Finally, Zacks Investment Research raised American Express from a “hold” rating to a “buy” rating and set a $111.00 target price for the company in a research report on Wednesday, January 3rd. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $100.80.
The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 2.31. The firm has a market cap of $85,090.00, a price-to-earnings ratio of 18.92, a PEG ratio of 1.44 and a beta of 1.22.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, January 5th will be issued a dividend of $0.35 per share. The ex-dividend date is Thursday, January 4th. This represents a $1.40 annualized dividend and a dividend yield of 1.43%. American Express’s dividend payout ratio is 27.03%.
In related news, EVP Linda Zukauckas sold 3,196 shares of the stock in a transaction on Friday, October 27th. The stock was sold at an average price of $95.42, for a total transaction of $304,962.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Anre D. Williams sold 30,761 shares of the stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $93.41, for a total value of $2,873,385.01. Following the sale, the insider now owns 28,720 shares of the company’s stock, valued at $2,682,735.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 442,869 shares of company stock valued at $42,823,869. 0.67% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in AXP. Bank of The West bought a new position in American Express during the second quarter valued at about $279,000. Beutel Goodman & Co Ltd. raised its holdings in American Express by 17.3% during the second quarter. Beutel Goodman & Co Ltd. now owns 2,303,772 shares of the payment services company’s stock valued at $149,480,000 after buying an additional 339,321 shares in the last quarter. Virtu Financial LLC bought a new position in American Express during the second quarter valued at about $312,000. NEXT Financial Group Inc raised its holdings in American Express by 0.7% during the second quarter. NEXT Financial Group Inc now owns 25,770 shares of the payment services company’s stock valued at $2,171,000 after buying an additional 176 shares in the last quarter. Finally, Trust Co. of Vermont raised its holdings in American Express by 2.9% during the second quarter. Trust Co. of Vermont now owns 17,789 shares of the payment services company’s stock valued at $1,499,000 after buying an additional 500 shares in the last quarter. Institutional investors and hedge funds own 83.36% of the company’s stock.
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About American Express
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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