OLD National Bancorp IN decreased its position in shares of American Express Company (NYSE:AXP) by 20.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,285 shares of the payment services company’s stock after selling 2,625 shares during the quarter. OLD National Bancorp IN’s holdings in American Express were worth $931,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently bought and sold shares of AXP. MCF Advisors LLC grew its holdings in shares of American Express by 0.3% during the second quarter. MCF Advisors LLC now owns 1,286 shares of the payment services company’s stock valued at $108,000 after buying an additional 4 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA lifted its position in American Express by 30.4% during the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock valued at $109,000 after purchasing an additional 300 shares during the period. Capital Analysts LLC bought a new position in American Express during the second quarter valued at approximately $115,000. Westside Investment Management Inc. lifted its position in American Express by 36.7% during the first quarter. Westside Investment Management Inc. now owns 1,528 shares of the payment services company’s stock valued at $119,000 after purchasing an additional 410 shares during the period. Finally, MV Capital Management Inc. lifted its position in American Express by 3.5% during the second quarter. MV Capital Management Inc. now owns 1,448 shares of the payment services company’s stock valued at $122,000 after purchasing an additional 49 shares during the period. Hedge funds and other institutional investors own 83.35% of the company’s stock.
In other American Express news, EVP Linda Zukauckas sold 3,196 shares of American Express stock in a transaction on Friday, October 27th. The shares were sold at an average price of $95.42, for a total value of $304,962.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James Peter Bush sold 13,548 shares of American Express stock in a transaction on Friday, December 1st. The stock was sold at an average price of $97.60, for a total transaction of $1,322,284.80. Following the completion of the transaction, the insider now directly owns 90,052 shares of the company’s stock, valued at $8,789,075.20. The disclosure for this sale can be found here. Insiders have sold 211,199 shares of company stock valued at $19,978,410 over the last ninety days. 0.67% of the stock is currently owned by corporate insiders.
AXP has been the topic of a number of research analyst reports. Bank of America restated a “buy” rating and set a $102.00 price objective on shares of American Express in a research report on Monday, October 9th. Zacks Investment Research upgraded shares of American Express from a “hold” rating to a “buy” rating and set a $96.00 price objective on the stock in a research report on Tuesday, August 29th. Keefe, Bruyette & Woods set a $95.00 price objective on shares of American Express and gave the company a “buy” rating in a research report on Saturday, August 19th. Oppenheimer set a $99.00 price objective on shares of American Express and gave the company a “buy” rating in a research report on Thursday, October 19th. Finally, Morgan Stanley decreased their price target on shares of American Express from $90.00 to $89.00 and set an “equal weight” rating on the stock in a research report on Friday, September 8th. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $91.56.
American Express Company (AXP) opened at $98.55 on Friday. The firm has a market cap of $85,541.01, a price-to-earnings ratio of 18.88, a P/E/G ratio of 1.64 and a beta of 1.22. American Express Company has a 52 week low of $73.11 and a 52 week high of $99.75. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.90 and a current ratio of 1.90.
American Express (NYSE:AXP) last posted its earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.03. The company had revenue of $8.44 billion during the quarter, compared to analysts’ expectations of $8.31 billion. American Express had a net margin of 14.48% and a return on equity of 22.73%. American Express’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period last year, the company posted $1.24 earnings per share. equities analysts predict that American Express Company will post 5.86 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, January 5th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $1.40 annualized dividend and a yield of 1.42%. American Express’s payout ratio is 26.97%.
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About American Express
American Express Company, together with its subsidiaries, is a global services company. The Company’s principal products and services are charge and credit card products, and travel-related services, which are offered to consumers and businesses around the world. Its segments include the U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).
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