American Express Company (NYSE:AXP) CEO Kenneth I. Chenault sold 789,503 shares of American Express stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $84.62, for a total value of $66,807,743.86. Following the completion of the transaction, the chief executive officer now owns 889,836 shares of the company’s stock, valued at $75,297,922.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
American Express Company (AXP) traded down 0.14% on Monday, reaching $85.85. 2,089,149 shares of the company’s stock traded hands. American Express Company has a 52-week low of $59.50 and a 52-week high of $86.28. The firm has a market capitalization of $75.89 billion, a PE ratio of 17.61 and a beta of 1.18. The firm’s 50 day moving average price is $83.91 and its 200 day moving average price is $79.79.
American Express (NYSE:AXP) last announced its quarterly earnings data on Wednesday, July 19th. The payment services company reported $1.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.03. American Express had a net margin of 14.11% and a return on equity of 21.90%. The business had revenue of $8.31 billion for the quarter, compared to analyst estimates of $8.20 billion. During the same period in the prior year, the business posted $2.10 earnings per share. American Express’s revenue was up .9% compared to the same quarter last year. On average, analysts predict that American Express Company will post $5.74 EPS for the current fiscal year.
American Express announced that its Board of Directors has approved a stock buyback plan on Wednesday, June 28th that permits the company to repurchase $4.40 billion in shares. This repurchase authorization permits the payment services company to reacquire up to 5.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
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Large investors have recently modified their holdings of the stock. SeaBridge Investment Advisors LLC purchased a new stake in shares of American Express during the first quarter valued at approximately $100,000. MCF Advisors LLC increased its stake in shares of American Express by 0.5% in the first quarter. MCF Advisors LLC now owns 1,282 shares of the payment services company’s stock valued at $101,000 after buying an additional 6 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in shares of American Express by 30.4% in the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock valued at $109,000 after buying an additional 300 shares during the last quarter. SpiderRock Advisors LLC purchased a new stake in shares of American Express during the first quarter valued at approximately $112,000. Finally, SRS Capital Advisors Inc. increased its stake in shares of American Express by 10.3% in the first quarter. SRS Capital Advisors Inc. now owns 1,476 shares of the payment services company’s stock valued at $116,000 after buying an additional 138 shares during the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.
AXP has been the subject of a number of research reports. BMO Capital Markets reiterated a “hold” rating and issued a $84.00 price target on shares of American Express in a research note on Thursday, June 1st. Credit Suisse Group reissued a “sell” rating on shares of American Express in a report on Wednesday, July 19th. Instinet raised shares of American Express from a “reduce” rating to a “neutral” rating and raised their target price for the stock from $63.00 to $78.00 in a report on Thursday, April 27th. Nomura raised shares of American Express from a “reduce” rating to a “neutral” rating and raised their target price for the stock from $63.00 to $78.00 in a report on Thursday, April 27th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $75.00 target price on shares of American Express in a report on Saturday, April 22nd. Five analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $84.77.
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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