Therefore, the stated figure displays a quarterly performance of -4.87% and year to date performance of -7.07%. $2.58 million worth of American Express Company (NYSE:AXP) shares were sold by Squeri Stephen J. It has outperformed by 7.46% the S&P500.The move comes after 7 months positive chart setup for the $70.93 billion company.
American Express Company on April 19 reported first-quarter net income of $1.2 billion, down 13 percent from $1.4 billion in the year-ago quarter, which included certain subsequently discontinued cobrand partnerships. The stock traded at a volume of 5.23 million shares. It also reduced Air Products & Chemicals Inc C (NYSE:APD) stake by 7,342 shares and now owns 8,432 shares.
Total revenues net of interest expense decreased 8 percent to $3.0 billion, from $3.3 billion a year ago. Institutional investors and hedge funds own 81.71% of the company's stock.
American Express (AXP) had dropped 4.3% during the month of trading before its earnings release last night. Sowell Financial Services LLC purchased a new position in American Express Company during the fourth quarter valued at approximately $128,000.
Shares of American Express Company (NYSE:AXP) opened at 79.51 on Friday. Capital Guardian Trust Co. now owns 1,717 shares of the payment services company's stock worth $127,000 after buying an additional 328 shares during the period.
Beta factor of the stock stands at 1.17. In the first quarter, spending on rewards for card members increased by 6% compared to a year ago. That's better than the $7.79 billion estimate from a Bloomberg survey of 21 analysts.
Notably, excluding Costco-related business and the effect of foreign exchange rates owing to the impact of a stronger USA dollar on global operations during the quarter, adjusted revenues climbed 7% driven by higher adjusted Card Member spending and adjusted net interest income. During the same period past year, the firm posted $1.45 earnings per share. Shares have risen 48.46% over the trailing 6 months. This represents a $1.28 dividend on an annualized basis and a yield of 1.69%.
Higher spending by cardholders helped American Express achieve a Street-beating profit in Q1.
American Express reiterated its guidance for the rest of the year, guiding for earnings per share between $5.60 and $5.80 in 2017. The stock now has a consensus rating of "Hold" and a consensus price target of $76.02. Analysts giving shares a rating of 1 or 2 would be indicating a Buy. William Blair reiterated an "ourperform" rating on shares of American Express Company in a report on Friday, January 20th. Seven equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have given a buy rating to the stock. Most of the changes in the company's reported numbers in this quarter can be tied to one of these three initiatives. On Tuesday, October 11 the stock rating was maintained by Maxim Group with "Buy". The shares were sold at an average price of $78.01, for a total transaction of $6,007,238.06. The stock's average target of $20 is 21.95% above today's ($16.4) share price. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Following the transaction, the insider now owns 54,954 shares in the company, valued at approximately $4,286,961.54.
Going forward, American Express needs to figure out a way to grow its USA consumer services base. The Company's principal services and products are charge and credit card products, and travel-related services, which are offered to clients and businesses around the world. Its segments include the U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).