American Express Company (NYSE:AXP) insider Paul D. Fabara sold 5,981 shares of the firm’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $85.88, for a total transaction of $513,648.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of American Express Company (AXP) traded down 1.49% during midday trading on Thursday, hitting $86.09. 3,870,386 shares of the stock were exchanged. The firm’s 50-day moving average is $85.12 and its 200-day moving average is $80.45. American Express Company has a 12 month low of $59.50 and a 12 month high of $87.78. The stock has a market cap of $76.10 billion, a price-to-earnings ratio of 17.66 and a beta of 1.18.
American Express (NYSE:AXP) last released its quarterly earnings data on Wednesday, July 19th. The payment services company reported $1.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.03. The firm had revenue of $8.31 billion for the quarter, compared to analyst estimates of $8.20 billion. American Express had a net margin of 14.11% and a return on equity of 21.90%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.10 earnings per share. Equities research analysts predict that American Express Company will post $5.74 earnings per share for the current year.
American Express announced that its board has authorized a share buyback program on Wednesday, June 28th that allows the company to repurchase $4.40 billion in outstanding shares. This repurchase authorization allows the payment services company to reacquire up to 5.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
Several research firms have recently issued reports on AXP. BidaskClub upgraded shares of American Express from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Sanford C. Bernstein reiterated an “outperform” rating and set a $100.00 target price (up from $99.00) on shares of American Express in a report on Saturday, July 22nd. Jefferies Group LLC reiterated a “hold” rating and set a $85.00 target price on shares of American Express in a report on Saturday, July 22nd. Guggenheim reiterated a “buy” rating and set a $95.00 target price (up from $90.00) on shares of American Express in a report on Saturday, July 22nd. Finally, Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and set a $94.00 target price (up from $87.00) on shares of American Express in a report on Saturday, July 22nd. Four investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and thirteen have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $84.77.
Several hedge funds have recently added to or reduced their stakes in the company. Rothschild Investment Corp IL raised its stake in American Express by 2.3% in the first quarter. Rothschild Investment Corp IL now owns 5,297 shares of the payment services company’s stock valued at $419,000 after buying an additional 120 shares in the last quarter. Dodge & Cox purchased a new stake in American Express during the fourth quarter valued at approximately $2,128,667,000. Trust Co. of Vermont raised its stake in American Express by 5.0% in the first quarter. Trust Co. of Vermont now owns 17,289 shares of the payment services company’s stock valued at $1,367,000 after buying an additional 819 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in American Express by 2.6% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 5,115 shares of the payment services company’s stock valued at $405,000 after buying an additional 128 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in American Express by 14.2% in the first quarter. Victory Capital Management Inc. now owns 31,949 shares of the payment services company’s stock valued at $2,527,000 after buying an additional 3,968 shares in the last quarter. Hedge funds and other institutional investors own 83.86% of the company’s stock.
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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