Investors Buy American Express (AXP) on Weakness

Traders bought shares of American Express (NYSE:AXP) on weakness during trading hours on Monday. $144.79 million flowed into the stock on the tick-up and $82.68 million flowed out of the stock on the tick-down, for a money net flow of $62.11 million into the stock. Of all companies tracked, American Express had the 10th highest net in-flow for the day. American Express traded down ($0.26) for the day and closed at $110.70

Several analysts have issued reports on AXP shares. Bank of America set a $108.00 price objective on American Express and gave the company a “hold” rating in a research note on Friday, January 18th. Credit Suisse Group reissued a “hold” rating and set a $93.00 target price on shares of American Express in a report on Friday, January 18th. Zacks Investment Research cut American Express from a “hold” rating to a “sell” rating in a research note on Wednesday, January 16th. Morgan Stanley dropped their price target on American Express from $113.00 to $111.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 8th. Finally, DZ Bank downgraded American Express from a “buy” rating to a “hold” rating in a report on Thursday, March 21st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $111.80.

The firm has a market capitalization of $93.58 billion, a price-to-earnings ratio of 15.10, a P/E/G ratio of 1.27 and a beta of 1.11. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 2.62.

American Express (NYSE:AXP) last issued its quarterly earnings data on Thursday, January 17th. The payment services company reported $1.74 EPS for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.06). The firm had revenue of $10.47 billion during the quarter, compared to analyst estimates of $10.54 billion. American Express had a net margin of 17.08% and a return on equity of 30.35%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.58 earnings per share. Equities research analysts anticipate that American Express will post 8.17 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 5th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Thursday, April 4th. American Express’s dividend payout ratio is currently 21.28%.

In other news, Chairman Stephen J. Squeri sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $103.02, for a total transaction of $1,287,750.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Richard Petrino sold 2,444 shares of American Express stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $107.11, for a total transaction of $261,776.84. Following the completion of the sale, the executive vice president now owns 7,591 shares of the company’s stock, valued at $813,072.01. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Large investors have recently modified their holdings of the stock. CI Investments Inc. grew its stake in American Express by 5.2% during the third quarter. CI Investments Inc. now owns 424,337 shares of the payment services company’s stock worth $45,188,000 after buying an additional 20,952 shares in the last quarter. Martingale Asset Management L P boosted its position in shares of American Express by 1.7% during the 3rd quarter. Martingale Asset Management L P now owns 528,894 shares of the payment services company’s stock worth $56,323,000 after acquiring an additional 8,588 shares in the last quarter. GSA Capital Partners LLP boosted its position in shares of American Express by 167.8% during the 3rd quarter. GSA Capital Partners LLP now owns 9,024 shares of the payment services company’s stock worth $961,000 after acquiring an additional 5,654 shares in the last quarter. Ancora Advisors LLC acquired a new stake in shares of American Express during the 3rd quarter worth approximately $106,000. Finally, Highbridge Capital Management LLC increased its stake in American Express by 968.7% in the third quarter. Highbridge Capital Management LLC now owns 11,293 shares of the payment services company’s stock valued at $1,203,000 after acquiring an additional 12,593 shares during the last quarter. 84.86% of the stock is currently owned by institutional investors and hedge funds.

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American Express Company Profile (NYSE:AXP)

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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