American Express Co. (NYSE:AXP) announced a quarterly dividend on Tuesday, September 27th. Investors of record on Friday, October 7th will be given a dividend of 0.32 per share by the payment services company on Thursday, November 10th. This represents a $1.28 dividend on an annualized basis and a yield of 2.02%. This is an increase from American Express’s previous quarterly dividend of $0.29.
Shares of American Express (NYSE:AXP) opened at 63.79 on Tuesday. The stock has a market cap of $58.93 billion, a P/E ratio of 11.28 and a beta of 1.24. The company’s 50-day moving average is $65.02 and its 200-day moving average is $63.44. American Express has a 12-month low of $50.27 and a 12-month high of $77.85.
American Express (NYSE:AXP) last posted its earnings results on Wednesday, July 20th. The payment services company reported $2.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.95 by $0.15. The business had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.33 billion. American Express had a net margin of 16.73% and a return on equity of 28.00%. The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.42 EPS. On average, equities research analysts anticipate that American Express will post $5.52 earnings per share for the current year.
Several institutional investors have recently made changes to their positions in AXP. Dodge & Cox raised its position in American Express by 7.2% in the second quarter. Dodge & Cox now owns 28,248,637 shares of the payment services company’s stock valued at $1,716,387,000 after buying an additional 1,888,379 shares during the period. International Value Advisers LLC bought a new position in American Express during the second quarter valued at about $83,148,000. APG Asset Management N.V. raised its position in American Express by 58.0% in the second quarter. APG Asset Management N.V. now owns 2,501,633 shares of the payment services company’s stock valued at $151,999,000 after buying an additional 918,209 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in American Express by 16.5% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,145,145 shares of the payment services company’s stock valued at $191,099,000 after buying an additional 446,100 shares during the period. Finally, American Century Companies Inc. raised its position in American Express by 18.7% in the second quarter. American Century Companies Inc. now owns 2,405,001 shares of the payment services company’s stock valued at $146,128,000 after buying an additional 379,657 shares during the period. Hedge funds and other institutional investors own 82.18% of the company’s stock.
Several equities research analysts have recently commented on AXP shares. Credit Suisse Group AG reaffirmed a “sell” rating and set a $62.00 price target on shares of American Express in a research report on Thursday, July 14th. Vetr lowered shares of American Express from a “strong-buy” rating to a “buy” rating and set a $67.47 price target for the company. in a research report on Monday, July 11th. BMO Capital Markets started coverage on shares of American Express in a research report on Thursday, July 21st. They set a “hold” rating and a $73.00 price target for the company. DA Davidson reaffirmed a “neutral” rating and set a $66.00 price target on shares of American Express in a research report on Friday, July 8th. Finally, Zacks Investment Research lowered shares of American Express from a “hold” rating to a “sell” rating in a research report on Wednesday, July 20th. Seven analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $68.70.
American Express Company Profile
American Express Company is a services company. The Company’s principal products and services are charge and credit payment card products, and travel-related services offered to consumers and businesses around the world. The Company’s segments include U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).
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