American Express (NYSE:AXP) to Issue Quarterly Dividend of $0.82

American Express (NYSE:AXP) announced a quarterly dividend on Tuesday, June 17th, RTT News reports. Investors of record on Thursday, July 3rd will be given a dividend of 0.82 per share by the payment services company on Friday, August 8th. This represents a $3.28 annualized dividend and a yield of 1.12%.

American Express has a payout ratio of 18.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect American Express to earn $17.60 per share next year, which means the company should continue to be able to cover its $3.28 annual dividend with an expected future payout ratio of 18.6%.

American Express Stock Down 0.2%

AXP traded down $0.65 during trading on Tuesday, hitting $293.57. The stock had a trading volume of 126,079 shares, compared to its average volume of 2,807,266. The company has a market capitalization of $205.67 billion, a PE ratio of 20.95, a PEG ratio of 1.41 and a beta of 1.25. American Express has a twelve month low of $220.43 and a twelve month high of $326.28. The stock has a 50 day simple moving average of $280.15 and a two-hundred day simple moving average of $288.76. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58.

American Express (NYSE:AXP - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The payment services company reported $3.64 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.17. American Express had a return on equity of 32.65% and a net margin of 15.36%. The company had revenue of $16.97 billion for the quarter, compared to the consensus estimate of $17.04 billion. During the same quarter in the prior year, the business earned $3.33 EPS. On average, research analysts predict that American Express will post 15.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AXP has been the topic of several recent research reports. Bank of America raised shares of American Express from a "neutral" rating to a "buy" rating and lowered their price objective for the stock from $325.00 to $274.00 in a research note on Friday, April 11th. William Blair reissued an "outperform" rating on shares of American Express in a report on Monday, April 21st. Royal Bank of Canada reissued an "outperform" rating and set a $310.00 target price on shares of American Express in a report on Monday, April 21st. BTIG Research reduced their price target on shares of American Express from $272.00 to $240.00 and set a "sell" rating on the stock in a research note on Monday, April 21st. Finally, Truist Financial lifted their price target on shares of American Express from $315.00 to $335.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, American Express currently has an average rating of "Hold" and an average target price of $296.05.

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 dated Tuesday, April 29th. The stock was sold at an average price of $264.66, for a total transaction of $799,008.54. Following the transaction, the insider now directly owns 10,919 shares in the company, valued at approximately $2,889,822.54. The trade was a 21.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Howard Grosfield sold 9,450 shares of American Express stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $275.50, for a total transaction of $2,603,475.00. Following the sale, the insider now directly owns 9,402 shares of the company's stock, valued at $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 currently owned by corporate insiders.

Institutional Trading of American Express

A hedge fund recently raised its stake in American Express stock. Brighton Jones LLC raised its holdings in shares of American Express (NYSE:AXP - Free Report) by 24.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,481 shares of the payment services company's stock after purchasing an additional 1,273 shares during the quarter. Brighton Jones LLC's holdings in American Express were worth $1,924,000 as of its most recent filing with the Securities & Exchange Commission. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

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.

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