American Express (NYSE:AXP) Short Interest Up 10.1% in October

American Express (NYSE:AXP) was the recipient of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 6,970,000 shares, a growth of 10.1% from the September 30th total of 6,330,000 shares. Based on an average daily volume of 3,280,000 shares, the short-interest ratio is presently 2.1 days. Currently, 0.9% of the shares of the company are short sold.

In other American Express news, insider Denise Pickett sold 2,400 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $118.39, for a total value of $284,136.00. Following the completion of the sale, the insider now owns 9,788 shares of the company’s stock, valued at approximately $1,158,801.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stephen J. Squeri sold 15,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $118.33, for a total transaction of $1,774,950.00. Following the completion of the sale, the chief executive officer now directly owns 199,609 shares of the company’s stock, valued at approximately $23,619,732.97. The disclosure for this sale can be found here. Insiders sold a total of 25,820 shares of company stock valued at $3,039,511 in the last three months. Insiders own 0.21% of the company’s stock.

Institutional investors have recently modified their holdings of the company. First Allied Advisory Services Inc. lifted its stake in American Express by 1.1% in the 3rd quarter. First Allied Advisory Services Inc. now owns 15,967 shares of the payment services company’s stock valued at $1,886,000 after purchasing an additional 181 shares during the last quarter. Cetera Advisor Networks LLC lifted its stake in American Express by 0.9% in the 3rd quarter. Cetera Advisor Networks LLC now owns 18,373 shares of the payment services company’s stock valued at $2,171,000 after purchasing an additional 161 shares during the last quarter. Miracle Mile Advisors LLC lifted its stake in American Express by 4.4% in the 3rd quarter. Miracle Mile Advisors LLC now owns 38,646 shares of the payment services company’s stock valued at $4,571,000 after purchasing an additional 1,646 shares during the last quarter. Trillium Asset Management LLC lifted its stake in American Express by 8.7% in the 3rd quarter. Trillium Asset Management LLC now owns 2,164 shares of the payment services company’s stock valued at $256,000 after purchasing an additional 174 shares during the last quarter. Finally, Goelzer Investment Management Inc. lifted its stake in American Express by 0.7% in the 3rd quarter. Goelzer Investment Management Inc. now owns 44,640 shares of the payment services company’s stock valued at $5,280,000 after purchasing an additional 292 shares during the last quarter. 84.72% of the stock is owned by institutional investors.

Shares of American Express stock traded down $0.17 on Friday, reaching $120.76. 1,935,079 shares of the stock were exchanged, compared to its average volume of 2,792,719. The firm’s 50 day moving average is $117.72 and its 200-day moving average is $120.63. American Express has a one year low of $89.05 and a one year high of $129.34. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.86 and a current ratio of 1.86. The firm has a market cap of $98.41 billion, a PE ratio of 16.47, a P/E/G ratio of 1.40 and a beta of 1.05.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, October 18th. The payment services company reported $2.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.07 by $0.01. American Express had a net margin of 16.51% and a return on equity of 29.68%. The company had revenue of $10.99 billion during the quarter, compared to the consensus estimate of $10.94 billion. During the same quarter in the prior year, the firm posted $1.88 EPS. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. On average, equities research analysts expect that American Express will post 8.17 EPS for the current fiscal year.

The company also recently declared a 0.39000 dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, October 4th were issued a dividend of $0.43 per share. This represents a dividend yield of 1.3%. The ex-dividend date of this dividend was Thursday, October 3rd. American Express’s dividend payout ratio (DPR) is presently 23.47%.

A number of research firms have issued reports on AXP. ValuEngine raised shares of American Express from a “sell” rating to a “hold” rating in a report on Thursday. William Blair reissued a “buy” rating on shares of American Express in a report on Friday, October 18th. JPMorgan Chase & Co. set a $122.00 price objective on shares of American Express and gave the company a “hold” rating in a report on Tuesday, October 8th. Morgan Stanley boosted their price objective on shares of American Express from $142.00 to $149.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Finally, Wells Fargo & Co set a $140.00 price objective on shares of American Express and gave the company a “buy” rating in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the stock. American Express has an average rating of “Hold” and an average target price of $124.96.

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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