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.
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.
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.
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