In terms of performance, year to date, the stock is 2.84%.
AXP shares are on the rise this morning after the company posted a solid first-quarter result. Share performance for the month is now at -3.79%. The company has market cap of $529.29 million. Veritas Asset Management LLP boosted its position in shares of American Express Company by 9.8% in the second quarter. Capital Guardian Trust Co. raised its position in American Express Company by 23.6% in the fourth quarter. Hedge funds and other institutional investors own 81.71% of the company's stock.
Recent session action on shares of American Express Company (NYSE:AXP) puts the stock on today's active list. The fund acquired 988,725 shares of the payment services company's stock, valued at approximately $73,047,000. Since the open, shares have moved 2.85% after recently hitting the $79.71 mark. Bessemer Gru owns 1 shares. The stock, after opening at $7.37, closed at $7.27 by scoring 1.96%.
In taking a look at technical levels, shares are trading -1.45% away from the 50 day simple moving average and 9.81% away from the 200 day simple moving average.
First-quarter merged total revenues net of interest expense were $7.9 billion, down 2 percent from $8.1 billion a year ago. The company had revenue of $8 billion for the quarter, compared to the consensus estimate of $7.92 billion.
Notably, excluding Costco-related business and the effect of foreign exchange rates owing to the impact of a stronger US dollar on worldwide operations during the quarter, adjusted revenues climbed 7% driven by higher adjusted Card Member spending and adjusted net interest income. The stock has earnings growth of -1.60% yoy and showed a high EPS growth of 6.70% over the past five years. Equities research analysts predict that American Express Company will post $5.66 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 10th. The company was downgraded on Wednesday, January 13 by Goldman Sachs. This represents a $1.28 dividend on an annualized basis and a yield of 1.69%. American Express Company's payout ratio is 22.74%. Since this has historically been one of the biggest revenue sources for the company and was affected the most by the loss of the deals with Costco and Jet Blue airways, the company needs to find a way of growing these numbers again. Cox L Kevin also sold $4.26M worth of American Express Company (NYSE:AXP) shares. Analysts anticipated $1.28 a share in earnings on sales of roughly $7.7 billion. The firm earned "Buy" rating on Monday, August 10 by Maxim Group. The stock of American Express Company (NYSE:AXP) earned "Buy" rating by Janney Capital on Thursday, September 17. If the $85.86 price target is reached, the company will be worth $5.71 billion more. The stock is now at a level that we consider to be in the middle of its trading range already. The shares were sold at an average price of $78.01, for a total transaction of $6,007,238.06. Overbrook Management Corp holds 0.56% in American Express Company (NYSE:AXP) or 34,650 shares. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Following the transaction, the insider now owns 54,954 shares in the company, valued at approximately $4,286,961.54.
American Express Company is a services company. The Company's principal products and services are charge and credit card products, and travel-related services, which are offered to consumers and businesses around the world.
"Our first quarter performance marks a good start to the year with momentum in the consumer and commercial businesses in the US and in key markets internationally", said Kenneth I. Chenault, chairman and chief executive officer.