American Express (NYSE:AXP) was the recipient of a significant decrease in short interest in March. As of March 31st, there was short interest totalling 6,680,000 shares, a decrease of 23.0% from the March 15th total of 8,670,000 shares. Approximately 0.8% of the shares of the stock are short sold. Based on an average trading volume of 3,650,000 shares, the days-to-cover ratio is presently 1.8 days.
Several equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised their price target on American Express from $108.00 to $131.00 and gave the company a “buy” rating in a report on Wednesday, January 6th. Credit Suisse Group decreased their price target on American Express from $120.00 to $115.00 and set an “underperform” rating on the stock in a report on Wednesday, January 27th. Robert W. Baird cut American Express from an “outperform” rating to a “neutral” rating and set a $126.00 price target on the stock. in a report on Tuesday, February 16th. JPMorgan Chase & Co. upgraded American Express from an “underweight” rating to an “overweight” rating and set a $148.00 price target on the stock in a report on Tuesday, January 19th. Finally, Wells Fargo & Company raised their price target on American Express from $150.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, April 5th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $122.38.
In other news, insider Anre D. Williams sold 59,352 shares of the stock in a transaction on Friday, March 5th. The stock was sold at an average price of $145.88, for a total transaction of $8,658,269.76. Following the sale, the insider now owns 85,522 shares in the company, valued at $12,475,949.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas E. Buckminster sold 32,833 shares of the stock in a transaction on Tuesday, March 9th. The stock was sold at an average price of $146.08, for a total value of $4,796,244.64. Following the sale, the insider now owns 111,247 shares in the company, valued at approximately $16,250,961.76. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Clearview Wealth Advisors LLC acquired a new position in shares of American Express during the 4th quarter worth $27,000. GPS Wealth Strategies Group LLC acquired a new position in American Express in the 1st quarter worth about $27,000. Hexavest Inc. acquired a new position in American Express in the 4th quarter worth about $29,000. Baron Silver Stevens Financial Advisors LLC acquired a new position in American Express in the 4th quarter worth about $29,000. Finally, Accel Wealth Management acquired a new position in American Express in the 4th quarter worth about $31,000. 83.54% of the stock is owned by institutional investors.
NYSE AXP traded up $1.46 during midday trading on Friday, hitting $149.99. The company had a trading volume of 3,479,952 shares, compared to its average volume of 3,599,430. The company has a market capitalization of $120.51 billion, a PE ratio of 37.22, a P/E/G ratio of 3.27 and a beta of 1.36. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 2.05. The firm has a 50-day moving average price of $143.92 and a 200-day moving average price of $122.78. American Express has a twelve month low of $76.00 and a twelve month high of $151.46.
American Express (NYSE:AXP) last announced its quarterly earnings data on Monday, January 25th. The payment services company reported $1.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.50. The firm had revenue of $9.35 billion during the quarter, compared to analysts’ expectations of $9.32 billion. American Express had a return on equity of 21.31% and a net margin of 8.84%. The company’s quarterly revenue was down 17.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.03 EPS. On average, equities analysts anticipate that American Express will post 4.85 EPS for the current year.
The firm also recently declared a special dividend, which will be paid on Monday, May 10th. Stockholders of record on Friday, April 2nd will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Wednesday, March 31st. This represents a dividend yield of 1.2%. American Express’s dividend payout ratio (DPR) is currently 20.98%.
American Express Company Profile
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.
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