Stephen J. Squeri Sells 101,964 Shares of American Express (AXP) Stock

American Express (NYSE:AXP) Chairman Stephen J. Squeri sold 101,964 shares of American Express stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $119.95, for a total value of $12,230,581.80. Following the sale, the chairman now directly owns 258,948 shares in the company, valued at approximately $31,060,812.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

NYSE AXP opened at $120.01 on Thursday. American Express has a 12 month low of $89.05 and a 12 month high of $120.88. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 2.63. The company has a market cap of $100.46 billion, a P/E ratio of 16.37, a P/E/G ratio of 1.37 and a beta of 1.13.

American Express (NYSE:AXP) last posted its quarterly earnings data on Thursday, April 18th. The payment services company reported $2.01 EPS for the quarter, beating the Zacks’ consensus estimate of $2.00 by $0.01. American Express had a net margin of 16.60% and a return on equity of 29.86%. The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.46 billion. During the same quarter last year, the business earned $1.86 earnings per share. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. Sell-side analysts predict that American Express will post 8.13 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be paid a dividend of $0.39 per share. The ex-dividend date is Wednesday, July 3rd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.30%. American Express’s dividend payout ratio is presently 21.28%.

AXP has been the topic of a number of recent analyst reports. Atlantic Securities raised American Express from a “neutral” rating to an “overweight” rating and set a $100.80 price target on the stock in a report on Tuesday, January 29th. Stephens set a $131.00 price target on American Express and gave the company a “buy” rating in a report on Monday. DZ Bank cut American Express from a “buy” rating to a “hold” rating in a report on Thursday, March 21st. Oppenheimer set a $119.00 price target on American Express and gave the company a “buy” rating in a report on Wednesday, April 17th. Finally, Bank of America reaffirmed a “neutral” rating and set a $108.00 price target on shares of American Express in a report on Thursday, March 14th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $116.63.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Lake Point Wealth Management acquired a new position in shares of American Express during the fourth quarter valued at approximately $201,000. Wisconsin Capital Management LLC acquired a new position in American Express in the fourth quarter worth approximately $3,241,000. CI Investments Inc. grew its position in American Express by 17.8% in the fourth quarter. CI Investments Inc. now owns 499,737 shares of the payment services company’s stock worth $47,635,000 after buying an additional 75,400 shares during the last quarter. Canada Pension Plan Investment Board grew its position in American Express by 33.5% in the fourth quarter. Canada Pension Plan Investment Board now owns 516,907 shares of the payment services company’s stock worth $49,268,000 after buying an additional 129,701 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its position in American Express by 9,218.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,340,593 shares of the payment services company’s stock worth $77,000 after buying an additional 7,261,819 shares during the last quarter. Institutional investors and hedge funds own 85.91% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Stephen J. Squeri Sells 101,964 Shares of American Express (AXP) Stock” was reported by Baseball Daily News and is the property of of Baseball Daily News. If you are accessing this article on another domain, it was stolen and reposted in violation of United States and international trademark & copyright legislation. The original version of this article can be accessed at https://www.baseballdailydigest.com/news/2019/05/23/stephen-j-squeri-sells-101964-shares-of-american-express-axp-stock.html.

About American Express

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services to consumers and businesses worldwide. It operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.

Read More: Quiet Period Expirations

Insider Buying and Selling by Quarter for American Express (NYSE:AXP)

Receive News & Ratings for American Express Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Express and related companies with MarketBeat.com's FREE daily email newsletter.