Investors Buy American Express (AXP) on Weakness

Investors purchased shares of American Express Company (NYSE:AXP) on weakness during trading hours on Thursday. $64.51 million flowed into the stock on the tick-up and $41.82 million flowed out of the stock on the tick-down, for a money net flow of $22.69 million into the stock. Of all companies tracked, American Express had the 19th highest net in-flow for the day. American Express traded down ($0.49) for the day and closed at $100.73

AXP has been the topic of several analyst reports. Buckingham Research initiated coverage on shares of American Express in a report on Monday, October 2nd. They set a “neutral” rating and a $92.00 price target on the stock. Credit Suisse Group restated a “sell” rating and set a $79.00 price target on shares of American Express in a report on Wednesday, October 4th. Bank of America restated a “buy” rating and set a $102.00 price target on shares of American Express in a report on Monday, October 9th. Wells Fargo & Co initiated coverage on shares of American Express in a report on Tuesday, October 10th. They set an “outperform” rating and a $105.00 price target on the stock. Finally, Compass Point cut shares of American Express from a “buy” rating to a “neutral” rating in a report on Thursday, October 12th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. American Express currently has an average rating of “Hold” and an average price target of $98.96.

The firm has a market cap of $87,430.00, a PE ratio of 19.45, a P/E/G ratio of 1.49 and a beta of 1.22. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 2.31.

American Express (NYSE:AXP) last posted its quarterly earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.03. American Express had a net margin of 14.48% and a return on equity of 22.73%. The company had revenue of $8.44 billion for the quarter, compared to analyst estimates of $8.31 billion. During the same quarter in the previous year, the firm posted $1.24 earnings per share. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. analysts forecast that American Express Company will post 5.86 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 5th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend is Thursday, January 4th. American Express’s dividend payout ratio (DPR) is currently 27.03%.

In other news, insider Anre D. Williams sold 30,761 shares of the business’s stock in a transaction that occurred on Wednesday, October 25th. The shares were sold at an average price of $93.41, for a total value of $2,873,385.01. Following the sale, the insider now owns 28,720 shares of the company’s stock, valued at $2,682,735.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Susan Sobbott sold 5,500 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $94.34, for a total transaction of $518,870.00. The disclosure for this sale can be found here. In the last three months, insiders sold 442,869 shares of company stock worth $42,823,869. Insiders own 0.67% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Advisors Asset Management Inc. grew its stake in American Express by 4.9% during the third quarter. Advisors Asset Management Inc. now owns 143,134 shares of the payment services company’s stock valued at $12,948,000 after acquiring an additional 6,709 shares in the last quarter. Bronfman E.L. Rothschild L.P. grew its stake in American Express by 10.8% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 5,669 shares of the payment services company’s stock valued at $478,000 after acquiring an additional 554 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new position in American Express during the third quarter valued at approximately $5,505,000. Westpac Banking Corp grew its stake in American Express by 2.2% during the third quarter. Westpac Banking Corp now owns 243,683 shares of the payment services company’s stock valued at $22,044,000 after acquiring an additional 5,252 shares in the last quarter. Finally, Shelton Capital Management purchased a new position in American Express during the second quarter valued at approximately $670,000. 83.35% of the stock is currently owned by institutional investors.

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About American Express

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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