American Express (NYSE:AXP) Stock Price Down 3.3% - What's Next?

Shares of American Express Company (NYSE:AXP) dropped 3.3% during trading on Friday . The company traded as low as $305.00 and last traded at $304.95. Approximately 580,668 shares changed hands during trading, a decline of 80% from the average daily volume of 2,839,721 shares. The stock had previously closed at $315.35.

Wall Street Analyst Weigh In

AXP has been the subject of a number of research analyst reports. Morgan Stanley upped their price target on American Express from $250.00 to $311.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Wells Fargo & Company set a $327.00 price objective on American Express in a research report on Wednesday, July 2nd. Keefe, Bruyette & Woods boosted their price objective on American Express from $360.00 to $371.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Truist Financial boosted their price objective on American Express from $335.00 to $340.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Finally, Barclays boosted their price objective on American Express from $249.00 to $297.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $307.68.

American Express Stock Performance

The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. The stock has a fifty day moving average of $304.19 and a 200-day moving average of $291.13. The firm has a market capitalization of $216.05 billion, a P/E ratio of 21.53, a P/E/G ratio of 1.54 and a beta of 1.25.

American Express (NYSE:AXP - Get Free Report) last posted its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share for the quarter, beating analysts' consensus estimates of $3.86 by $0.22. The firm had revenue of $17.86 billion during the quarter, compared to the consensus estimate of $17.70 billion. American Express had a return on equity of 32.48% and a net margin of 15.31%. The business's revenue was up 9.3% compared to the same quarter last year. During the same period last year, the company earned $3.49 earnings per share. On average, research analysts anticipate that American Express Company will post 15.33 EPS for the current year.

American Express Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be issued a dividend of $0.82 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $3.28 annualized dividend and a yield of 1.06%. American Express's payout ratio is currently 22.91%.

Insider Buying and Selling at American Express

In other American Express news, insider Glenda G. Mcneal sold 3,019 shares of American Express stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $264.66, for a total value of $799,008.54. Following the completion of the transaction, the insider directly owned 10,919 shares of the company's stock, valued at $2,889,822.54. The trade was a 21.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Howard Grosfield sold 9,450 shares of American Express stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $275.50, for a total value of $2,603,475.00. Following the completion of the transaction, the insider owned 9,402 shares in the company, valued at approximately $2,590,251. The trade was a 50.13% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

Institutional Investors Weigh In On American Express

Institutional investors and hedge funds have recently made changes to their positions in the business. Investment Management Corp VA ADV purchased a new stake in shares of American Express during the fourth quarter valued at approximately $29,000. MorganRosel Wealth Management LLC purchased a new stake in shares of American Express during the first quarter valued at approximately $29,000. Sellwood Investment Partners LLC bought a new position in American Express during the fourth quarter valued at $33,000. Murphy & Mullick Capital Management Corp bought a new position in American Express during the fourth quarter valued at $33,000. Finally, Nexus Investment Management ULC bought a new position in American Express during the first quarter valued at $34,000. Institutional investors own 84.33% of the company's stock.

American Express Company Profile

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.