American Express Company (AXP) : Net money flow in American Express Company (AXP) was negative ($24.42 million) and the inflow of money on uptick was $69.95 million, whereas, the outflow of money on downticks amounted to $94.37 million on Wednesday. The traders used every opportunity of price strength in the stock to sell their positions, hence, the total uptick to downtick ratio was 0.74. The block trades show that the large investors, were aggressive sellers in the stock. On the other hand, the total value of block trades done on downticks was $30.41 million. The money flow in block trades was negative ($30.41). American Express Company (AXP) gained $0.32 cent during the day and reached $64.48, a gain of 0.5% over the previous day.
Also, In a research note released to the investors, Goldman Sachs maintains its rating on American Express Company (NYSE:AXP).The analysts at the brokerage house have a current rating of Neutral on the shares. In a recent information released to the investors, Goldman Sachs raises the new price target from $62 per share to $67 per share. The rating by the firm was issued on June 7, 2016.
American Express Company (NYSE:AXP): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $64.29 and $63.50 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $64.80. The buying momentum continued till the end and the stock did not give up its gains. It closed at $64.48, notching a gain of 0.50% for the day. The total traded volume was 8,315,821 . The stock had closed at $64.16 on the previous day.
The stock has recorded a 20-day Moving Average of 5.18% and the 50-Day Moving Average is 2.53%. In a related news,The officer (Pres., Glbl Commercial Pymnts) of American Express Co, Sobbott Susan sold 14,682 shares at $65.5 on May 25, 2016. The Insider selling transaction had a total value worth of $961,671. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
American Express Company is a global services company. The Companys principal products and services are charge and credit payment card products, and travel-related services offered to consumers and businesses around the world. The Companys segments include U.S. Card Services, International Card Services, Global Commercial Services and Global Network & Merchant Services. The Companys United States banking subsidiaries, Centurion Bank and AEBFSB, issue a range of Card products and services. It also issues its charge and credit Cards around the world either on its own or as cobrands with partnering institutions. The Company provides expense management and travel services to companies and organizations through its Global Corporate Payments and Global Business Travel businesses. The Global Network & Merchant Services (GNMS) segment operates a global payments network that processes and settles card transactions.