American Express (NYSE:AXP) Sets New 1-Year High at $255.21

Shares of American Express (NYSE:AXP) reached a new 52-week high during trading on Wednesday . The company traded as high as $255.21 and last traded at $253.15, with a volume of 122105 shares traded. The stock had previously closed at $252.48.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on AXP shares. Wells Fargo & Company boosted their target price on shares of American Express from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. William Blair reissued an “outperform” rating on shares of American Express in a research note on Monday, June 3rd. Citigroup started coverage on shares of American Express in a research note on Monday, June 10th. They set a “neutral” rating and a $250.00 target price for the company. Evercore ISI boosted their target price on shares of American Express from $243.00 to $255.00 and gave the stock an “in-line” rating in a research note on Wednesday, April 24th. Finally, Oppenheimer restated an “outperform” rating on shares of American Express in a research report on Friday, April 5th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, American Express presently has a consensus rating of “Hold” and a consensus price target of $230.70.

American Express Stock Performance

The stock has a market cap of $176.75 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 1.41 and a beta of 1.21. The stock’s 50 day moving average is $237.01 and its two-hundred day moving average is $225.49. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.26 by $0.23. American Express had a net margin of 15.53% and a return on equity of 32.94%. The firm had revenue of $16.33 billion during the quarter, compared to analysts’ expectations of $16.60 billion. During the same quarter in the prior year, the business earned $2.89 EPS. American Express’s quarterly revenue was up 9.2% compared to the same quarter last year. Analysts anticipate that American Express will post 13.24 earnings per share for the current fiscal year.

American Express Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Friday, July 5th. This is an increase from American Express’s previous quarterly dividend of $0.10. American Express’s dividend payout ratio (DPR) is currently 23.06%.

Insider Activity

In other American Express news, EVP Quinn Jessica Lieberman sold 3,141 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $232.36, for a total value of $729,842.76. Following the sale, the executive vice president now owns 258 shares of the company’s stock, valued at $59,948.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Jennifer Skyler sold 14,802 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $241.73, for a total value of $3,578,087.46. Following the completion of the transaction, the insider now owns 16,371 shares of the company’s stock, valued at $3,957,361.83. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Quinn Jessica Lieberman sold 3,141 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $232.36, for a total transaction of $729,842.76. Following the completion of the transaction, the executive vice president now directly owns 258 shares of the company’s stock, valued at approximately $59,948.88. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

Hedge Funds Weigh In On American Express

Several institutional investors and hedge funds have recently bought and sold shares of AXP. Scarborough Advisors LLC acquired a new position in American Express during the fourth quarter worth approximately $25,000. Tennessee Valley Asset Management Partners purchased a new stake in American Express during the fourth quarter worth approximately $28,000. Sachetta LLC purchased a new stake in American Express during the fourth quarter worth approximately $29,000. Vermillion & White Wealth Management Group LLC purchased a new stake in American Express during the fourth quarter worth approximately $29,000. Finally, WFA Asset Management Corp purchased a new stake in American Express during the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Company Profile

American Express Company, together with its subsidiaries, operates as integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and Internationally. It operates through four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.