American Express (NYSE:AXP) Sets New 52-Week High on Earnings Beat

American Express (NYSE:AXP) shares hit a new 52-week high during trading on Monday following a stronger than expected earnings report. The stock traded as high as $232.87 and last traded at $232.87, with a volume of 16780 shares changing hands. The stock had previously closed at $231.04.

The payment services company reported $3.33 EPS for the quarter, beating the consensus estimate of $2.97 by $0.36. The business had revenue of $15.80 billion during the quarter, compared to analyst estimates of $15.79 billion. American Express had a net margin of 14.50% and a return on equity of 32.39%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.40 earnings per share.

American Express Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 5th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.40 annualized dividend and a dividend yield of 0.17%. American Express’s dividend payout ratio (DPR) is 23.06%.

Analysts Set New Price Targets

A number of research firms recently issued reports on AXP. StockNews.com lowered shares of American Express from a “buy” rating to a “hold” rating in a research note on Monday, April 15th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of American Express from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Monday. Evercore ISI lifted their price target on shares of American Express from $229.00 to $243.00 and gave the company an “in-line” rating in a report on Thursday, March 28th. UBS Group raised their price objective on shares of American Express from $188.00 to $206.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. Finally, Wells Fargo & Company raised their price objective on shares of American Express from $220.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, April 10th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $208.24.

Insider Activity

In other American Express news, insider Laureen Seeger sold 84,420 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $212.98, for a total value of $17,979,771.60. Following the completion of the transaction, the insider now owns 57,512 shares in the company, valued at $12,248,905.76. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Laureen Seeger sold 84,420 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $212.98, for a total transaction of $17,979,771.60. Following the completion of the transaction, the insider now directly owns 57,512 shares in the company, valued at $12,248,905.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Stephen J. Squeri sold 69,356 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $213.02, for a total value of $14,774,215.12. Following the transaction, the chief executive officer now owns 122,158 shares of the company’s stock, valued at $26,022,097.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 172,047 shares of company stock valued at $36,528,388. 0.11% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. CIC Wealth LLC lifted its position in shares of American Express by 3.2% during the 1st quarter. CIC Wealth LLC now owns 1,518 shares of the payment services company’s stock valued at $346,000 after buying an additional 47 shares in the last quarter. Aspiriant LLC increased its stake in American Express by 0.8% in the 1st quarter. Aspiriant LLC now owns 6,330 shares of the payment services company’s stock worth $1,441,000 after acquiring an additional 48 shares during the last quarter. Hexagon Capital Partners LLC increased its stake in American Express by 3.4% in the 4th quarter. Hexagon Capital Partners LLC now owns 1,490 shares of the payment services company’s stock worth $279,000 after acquiring an additional 49 shares during the last quarter. Level Four Advisory Services LLC increased its stake in American Express by 2.3% in the 4th quarter. Level Four Advisory Services LLC now owns 2,188 shares of the payment services company’s stock worth $410,000 after acquiring an additional 50 shares during the last quarter. Finally, Game Plan Financial Advisors LLC increased its stake in American Express by 62.5% in the 1st quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock worth $30,000 after acquiring an additional 50 shares during the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Trading Up 0.8 %

The stock has a market cap of $168.57 billion, a P/E ratio of 19.18, a P/E/G ratio of 1.32 and a beta of 1.23. The company has a current ratio of 1.73, a quick ratio of 1.63 and a debt-to-equity ratio of 1.69. The company has a 50-day moving average price of $220.47 and a two-hundred day moving average price of $189.56.

About American Express

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.