Short Interest in American Express (NYSE:AXP) Decreases By 10.2%

American Express (NYSE:AXP) saw a large decrease in short interest in the month of June. As of June 30th, there was short interest totalling 6,176,700 shares, a decrease of 10.2% from the May 30th total of 6,879,200 shares. Currently, 0.7% of the shares of the stock are sold short. Based on an average daily volume of 3,110,000 shares, the short-interest ratio is presently 2.0 days.

In other news, Chairman Stephen J. Squeri sold 101,964 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $119.95, for a total value of $12,230,581.80. Following the sale, the chairman now directly owns 258,948 shares in the company, valued at approximately $31,060,812.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Jeffrey C. Campbell sold 6,500 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $122.93, for a total value of $799,045.00. Following the completion of the sale, the chief financial officer now owns 68,379 shares in the company, valued at $8,405,830.47. The disclosure for this sale can be found here. Over the last quarter, insiders sold 183,797 shares of company stock worth $21,861,060. Corporate insiders own 0.21% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. West Oak Capital LLC lifted its stake in shares of American Express by 0.8% in the 2nd quarter. West Oak Capital LLC now owns 18,010 shares of the payment services company’s stock valued at $2,223,000 after purchasing an additional 145 shares during the period. Welch & Forbes LLC raised its stake in American Express by 4.6% during the 2nd quarter. Welch & Forbes LLC now owns 97,249 shares of the payment services company’s stock worth $12,005,000 after buying an additional 4,262 shares during the period. Clark Capital Management Group Inc. raised its stake in American Express by 2.1% during the 2nd quarter. Clark Capital Management Group Inc. now owns 353,809 shares of the payment services company’s stock worth $43,674,000 after buying an additional 7,211 shares during the period. CENTRAL TRUST Co raised its stake in American Express by 4.4% during the 2nd quarter. CENTRAL TRUST Co now owns 41,190 shares of the payment services company’s stock worth $5,243,000 after buying an additional 1,744 shares during the period. Finally, HMS Capital Management LLC acquired a new stake in American Express during the 2nd quarter worth $37,000. 83.60% of the stock is currently owned by institutional investors.

AXP has been the topic of several analyst reports. William Blair reiterated an “outperform” rating on shares of American Express in a research note on Tuesday, June 18th. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 1,453 ($18.99) price objective on shares of in a research note on Tuesday, June 18th. Royal Bank of Canada set a $60.00 price target on Masonite International and gave the stock a “buy” rating in a research report on Friday, May 3rd. Morgan Stanley set a $226.00 price target on S&P Global and gave the stock a “hold” rating in a research report on Friday, May 3rd. Finally, DZ Bank restated a “buy” rating on shares of CTS Eventim AG & Co KGaA in a research report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company’s stock. American Express presently has an average rating of “Hold” and a consensus price target of $123.03.

NYSE:AXP opened at $127.96 on Friday. The stock’s fifty day moving average price is $122.16. American Express has a 52-week low of $89.05 and a 52-week high of $128.42. The company has a debt-to-equity ratio of 2.63, a quick ratio of 1.88 and a current ratio of 1.88. The firm has a market cap of $106.86 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 1.48 and a beta of 1.07.

American Express (NYSE:AXP) last posted its quarterly earnings data on Thursday, April 18th. The payment services company reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.01. The firm had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.46 billion. American Express had a return on equity of 29.86% and a net margin of 16.60%. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.86 EPS. Analysts forecast that American Express will post 8.12 EPS for the current fiscal year.

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 paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Wednesday, July 3rd. American Express’s dividend payout ratio (DPR) is currently 21.28%.

About American Express

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services to consumers and businesses worldwide. It operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.

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