American Express (NYSE:AXP) announced a quarterly dividend on Thursday, December 12th, RTT News reports. Investors of record on Friday, January 3rd will be given a dividend of 0.43 per share by the payment services company on Monday, February 10th. This represents a $1.72 dividend on an annualized basis and a yield of 1.41%. This is an increase from American Express’s previous quarterly dividend of $0.39.
American Express has increased its dividend by an average of 0.1% annually over the last three years and has raised its dividend annually for the last 7 consecutive years. American Express has a payout ratio of 21.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect American Express to earn $9.01 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 19.1%.
NYSE:AXP traded up $1.37 during mid-day trading on Thursday, reaching $122.01. The stock had a trading volume of 260,899 shares, compared to its average volume of 2,613,397. The firm has a 50 day moving average price of $119.46 and a two-hundred day moving average price of $120.81. The stock has a market capitalization of $98.57 billion, a P/E ratio of 16.63, a P/E/G ratio of 1.42 and a beta of 1.05. 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.
In other news, insider Denise Pickett sold 2,400 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $118.39, for a total transaction of $284,136.00. Following the transaction, the insider now directly owns 9,788 shares of the company’s stock, valued at $1,158,801.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Stephen J. Squeri sold 15,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $117.96, for a total value of $1,769,400.00. Following the transaction, the chief executive officer now directly owns 184,090 shares in the company, valued at $21,715,256.40. The disclosure for this sale can be found here. Insiders have sold 25,820 shares of company stock worth $3,033,961 over the last three months. Insiders own 0.21% of the company’s stock.
Several analysts have weighed in on the company. ValuEngine downgraded American Express from a “hold” rating to a “sell” rating in a research report on Wednesday, December 4th. BMO Capital Markets boosted their price objective on American Express from $119.00 to $123.00 and gave the company a “market perform” rating in a research report on Monday, October 21st. Oppenheimer set a $126.00 price objective on American Express and gave the company a “buy” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. set a $122.00 price objective on American Express and gave the company a “hold” rating in a research report on Tuesday, October 8th. Finally, Cfra reiterated a “hold” rating on shares of American Express in a research report on Friday, October 18th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $125.89.
American Express Company Profile
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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