Trade Report: Today, American Express Co. (AXP) Sets New 1-Year High After Dividend Announcement

Today, American Express Co. (AXP) Sets New 1-Year High After Dividend Announcement

American Express Co. (NYSE:AXP)’s share price reached a new 52-week high during mid-day trading on Wednesday following a dividend announcement from the company. The company traded as high as $72.84 and last traded at $72.88, with a volume of 4,660,155 shares. The stock had previously closed at $71.72.

The newly announced dividend which will be paid on Friday, February 10th. Investors of record on Friday, January 6th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend is Wednesday, January 4th. American Express’s payout ratio is 22.70%.

Several research firms recently issued reports on AXP. Vetr cut American Express from a “hold” rating to a “sell” rating and set a $64.38 price objective on the stock. in a report on Monday, November 7th. BMO Capital Markets lifted their price objective on American Express from $73.00 to $75.00 and gave the stock a “market perform” rating in a report on Thursday, October 20th. Barclays PLC set a $63.00 price objective on American Express and gave the stock a “hold” rating in a report on Thursday, October 20th. Zacks Investment Research cut American Express from a “buy” rating to a “hold” rating in a report on Friday, November 11th. Finally, TheStreet upgraded American Express from a “hold” rating to a “buy” rating in a report on Tuesday, November 15th. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $67.65.

The company has a market capitalization of $66.70 billion, a PE ratio of 12.95 and a beta of 1.19. The firm’s 50 day moving average price is $66.37 and its 200 day moving average price is $64.57.

American Express (NYSE:AXP) last issued its earnings results on Wednesday, October 19th. The payment services company reported $1.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.28. American Express had a net margin of 16.67% and a return on equity of 27.84%. The business had revenue of $7.80 billion for the quarter, compared to the consensus estimate of $7.70 billion. During the same quarter last year, the firm posted $1.24 EPS. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. Equities analysts predict that American Express Co. will post $5.73 EPS for the current year.

In other news, insider Susan Sobbott sold 19,186 shares of the firm’s stock in a transaction on Friday, November 11th. The shares were sold at an average price of $70.45, for a total value of $1,351,653.70. Following the transaction, the insider now owns 56,870 shares of the company’s stock, valued at approximately $4,006,491.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Ashwini Gupta sold 140,808 shares of the firm’s stock in a transaction on Friday, October 21st. The shares were sold at an average price of $67.18, for a total transaction of $9,459,481.44. Following the completion of the transaction, the insider now directly owns 239,718 shares in the company, valued at approximately $16,104,255.24. The disclosure for this sale can be found here. 0.78% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of the stock. First Citizens Bank & Trust Co. raised its stake in American Express by 0.3% in the third quarter. First Citizens Bank & Trust Co. now owns 4,256 shares of the payment services company’s stock worth $273,000 after buying an additional 11 shares during the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its stake in American Express by 0.5% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,607 shares of the payment services company’s stock worth $158,000 after buying an additional 12 shares during the last quarter. Homrich & Berg raised its stake in American Express by 0.5% in the third quarter. Homrich & Berg now owns 4,391 shares of the payment services company’s stock worth $281,000 after buying an additional 22 shares during the last quarter. First Midwest Bank Trust Division raised its stake in American Express by 0.3% in the third quarter. First Midwest Bank Trust Division now owns 9,569 shares of the payment services company’s stock worth $613,000 after buying an additional 26 shares during the last quarter. Finally, Assetmark Inc. raised its stake in American Express by 0.9% in the second quarter. Assetmark Inc. now owns 3,217 shares of the payment services company’s stock worth $195,000 after buying an additional 29 shares during the last quarter. 82.13% of the stock is currently owned by institutional investors and hedge funds.

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