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

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

In related news, Chairman Stephen J. Squeri sold 101,964 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $119.95, for a total value of $12,230,581.80. Following the completion of the sale, the chairman now directly owns 258,948 shares in the company, valued at approximately $31,060,812.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael John O’neill sold 15,749 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $113.94, for a total transaction of $1,794,441.06. Following the completion of the sale, the insider now owns 69,941 shares of the company’s stock, valued at $7,969,077.54. The disclosure for this sale can be found here. Insiders sold a total of 183,797 shares of company stock valued at $21,861,060 over the last quarter. 0.21% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the business. Camarda Financial Advisors LLC acquired a new stake in shares of American Express in the first quarter valued at approximately $26,000. Creative Financial Designs Inc. ADV bought a new position in American Express in the first quarter valued at approximately $28,000. Clarfeld Financial Advisors LLC bought a new position in American Express in the fourth quarter valued at approximately $31,000. HMS Capital Management LLC bought a new position in American Express in the second quarter valued at approximately $37,000. Finally, PRW Wealth Management LLC bought a new position in American Express in the fourth quarter valued at approximately $42,000. Hedge funds and other institutional investors own 83.60% of the company’s stock.

Shares of AXP stock opened at $127.96 on Friday. The stock’s 50 day moving average is $122.16. The company has a debt-to-equity ratio of 2.63, a current ratio of 1.88 and a quick ratio of 1.88. The firm has a market capitalization of $106.86 billion, a P/E ratio of 17.46, a PEG ratio of 1.48 and a beta of 1.07. American Express has a 12-month low of $89.05 and a 12-month high of $128.42.

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

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $1.56 annualized dividend and a yield of 1.22%. American Express’s dividend payout ratio (DPR) is presently 21.28%.

Several equities research analysts recently issued reports on the stock. Stephens set a $131.00 target price on shares of American Express and gave the company a “buy” rating in a research note on Monday, May 20th. Wells Fargo & Co raised their target price on shares of Apollo Global Management from $38.00 to $42.00 and gave the company an “outperform” rating in a research note on Wednesday. Bank of America cut their target price on shares of Canopy Growth from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, June 19th. UBS Group assumed coverage on shares of Molecular Templates in a research note on Monday, April 29th. They issued a “buy” rating and a $12.00 target price for the company. Finally, Oppenheimer set a $119.00 target price on shares of American Express and gave the company a “buy” rating in a research note on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $123.03.

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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