American Express Company (NYSE:AXP) Announces Quarterly Dividend of $0.82

American Express Company (NYSE:AXP) declared a quarterly dividend on Tuesday, June 17th, RTT News reports. Shareholders 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 1.11%. The ex-dividend date of this dividend is Thursday, July 3rd.

American Express has a payout ratio of 18.9% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of NYSE AXP opened at $296.54 on Thursday. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57. American Express has a 1-year low of $220.43 and a 1-year high of $326.28. The company has a market capitalization of $207.75 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 1.43 and a beta of 1.25. The business has a 50-day moving average of $281.42 and a 200-day moving average of $288.84.

American Express (NYSE:AXP) last announced its earnings results on Thursday, April 17th. The payment services company reported $3.64 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.17. American Express had a net margin of 15.31% and a return on equity of 32.48%. The business had revenue of $16.97 billion during the quarter, compared to the consensus estimate of $17.04 billion. During the same period in the prior year, the firm earned $3.33 earnings per share. On average, equities analysts anticipate that American Express will post 15.33 EPS for the current fiscal year.

Insider Transactions at American Express

In related news, insider Glenda G. Mcneal sold 3,019 shares of the business’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $264.66, for a total transaction of $799,008.54. Following the sale, the insider now owns 10,919 shares of the company’s stock, valued at $2,889,822.54. The trade was a 21.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Howard Grosfield sold 9,450 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $275.50, for a total value of $2,603,475.00. Following the completion of the sale, the insider now owns 9,402 shares of the company’s stock, valued at $2,590,251. This trade represents a 50.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in American Express stock. Brighton Jones LLC grew its stake in shares of American Express Company (NYSE:AXP) by 24.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 6,481 shares of the payment services company’s stock after acquiring an additional 1,273 shares during the period. Brighton Jones LLC’s holdings in American Express were worth $1,924,000 at the end of the most recent reporting period. 84.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Monness Crespi & Hardt lifted their price objective on American Express from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, April 21st. JPMorgan Chase & Co. boosted their target price on shares of American Express from $244.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, April 21st. Royal Bank Of Canada restated an “outperform” rating and issued a $310.00 target price on shares of American Express in a research note on Monday, April 21st. Redburn Atlantic upgraded American Express from a “sell” rating to a “neutral” rating and decreased their price target for the stock from $270.00 to $255.00 in a research note on Wednesday, April 23rd. Finally, Truist Financial upped their price objective on 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 assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $296.05.

About American Express

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.