American Express (NYSE:AXP) declared a quarterly dividend on Wednesday, May 4th, RTT News reports. Investors of record on Friday, July 1st will be paid a dividend of 0.52 per share by the payment services company on Wednesday, August 10th. This represents a $2.08 annualized dividend and a dividend yield of 1.17%.
American Express has raised its dividend payment by an average of 5.1% per year over the last three years and has raised its dividend annually for the last 1 consecutive years. American Express has a payout ratio of 18.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect American Express to earn $11.43 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 18.2%.
Shares of AXP opened at $177.82 on Thursday. American Express has a fifty-two week low of $149.89 and a fifty-two week high of $199.55. The company has a market capitalization of $133.91 billion, a PE ratio of 17.82, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The stock has a fifty day moving average of $181.51 and a two-hundred day moving average of $176.68. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.63 and a current ratio of 1.63.
American Express (NYSE:AXP – Get Rating) last announced its quarterly earnings data on Friday, April 22nd. The payment services company reported $2.73 EPS for the quarter, beating the Zacks’ consensus estimate of $2.41 by $0.32. American Express had a return on equity of 33.35% and a net margin of 17.49%. The business had revenue of $11.74 billion during the quarter, compared to the consensus estimate of $11.66 billion. During the same quarter in the previous year, the business earned $1.74 earnings per share. The business’s revenue for the quarter was up 29.5% on a year-over-year basis. As a group, equities research analysts forecast that American Express will post 9.78 earnings per share for the current fiscal year.
Several research analysts have recently weighed in on the stock. Credit Suisse Group increased their price objective on shares of American Express from $163.00 to $170.00 and gave the stock an “underperform” rating in a report on Wednesday, January 26th. Robert W. Baird reiterated a “neutral” rating and issued a $175.00 price target on shares of American Express in a report on Tuesday, April 26th. BMO Capital Markets upped their price objective on American Express from $152.00 to $155.00 and gave the stock a “market perform” rating in a report on Wednesday, January 26th. Barclays lifted their target price on American Express from $182.00 to $190.00 and gave the company an “equal weight” rating in a report on Wednesday, January 26th. Finally, Morgan Stanley upped their price target on American Express from $218.00 to $223.00 and gave the stock an “overweight” rating in a research note on Monday, March 28th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $196.47.
In other news, insider Anre D. Williams sold 139,909 shares of the stock in a transaction that occurred on Wednesday, February 9th. The stock was sold at an average price of $196.82, for a total transaction of $27,536,889.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stephen J. Squeri sold 48,160 shares of the company’s stock in a transaction on Thursday, April 28th. The shares were sold at an average price of $178.38, for a total transaction of $8,590,780.80. Following the completion of the sale, the chief executive officer now directly owns 31,285 shares in the company, valued at $5,580,618.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 189,873 shares of company stock worth $36,472,992. Corporate insiders own 0.11% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in AXP. Morgan Stanley grew its position in shares of American Express by 6.7% in the 2nd quarter. Morgan Stanley now owns 9,916,986 shares of the payment services company’s stock worth $1,638,584,000 after acquiring an additional 622,891 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in American Express by 180.7% in the fourth quarter. NewEdge Advisors LLC now owns 20,889 shares of the payment services company’s stock worth $3,417,000 after purchasing an additional 13,448 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its position in shares of American Express by 41.9% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 19,794 shares of the payment services company’s stock valued at $3,238,000 after buying an additional 5,844 shares during the last quarter. Integrated Wealth Concepts LLC raised its stake in American Express by 23.5% during the fourth quarter. Integrated Wealth Concepts LLC now owns 15,218 shares of the payment services company’s stock worth $2,490,000 after acquiring an additional 2,900 shares during the period. Finally, Zullo Investment Group Inc. bought a new position in American Express in the fourth quarter worth about $398,000. Hedge funds and other institutional investors own 85.49% of the company’s stock.
About American Express (Get Rating)
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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