OLD National Bancorp IN cut its position in American Express (NYSE:AXP) by 10.8% in the first quarter, HoldingsChannel reports. The firm owned 9,461 shares of the payment services company’s stock after selling 1,140 shares during the period. OLD National Bancorp IN’s holdings in American Express were worth $1,034,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in AXP. Camarda Financial Advisors LLC acquired a new position in shares of American Express during the first quarter valued at about $26,000. Creative Financial Designs Inc. ADV acquired a new position in shares of American Express during the first quarter valued at about $28,000. Pearl River Capital LLC purchased a new stake in American Express in the fourth quarter valued at approximately $25,000. JNBA Financial Advisors purchased a new stake in American Express in the fourth quarter valued at approximately $26,000. Finally, Clarfeld Financial Advisors LLC purchased a new stake in American Express in the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 85.91% of the company’s stock.
American Express stock opened at $119.07 on Friday. The company has a debt-to-equity ratio of 2.63, a quick ratio of 1.88 and a current ratio of 1.88. American Express has a 12 month low of $89.05 and a 12 month high of $120.35. The company has a market capitalization of $100.08 billion, a price-to-earnings ratio of 16.24, a P/E/G ratio of 1.38 and a beta of 1.13.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be given a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $1.56 annualized dividend and a yield of 1.31%. American Express’s dividend payout ratio is presently 21.28%.
In other American Express news, insider Michael John O’neill sold 15,749 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $113.94, for a total value of $1,794,441.06. Following the sale, the insider now owns 69,941 shares in the company, valued at approximately $7,969,077.54. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.21% of the company’s stock.
A number of equities research analysts recently commented on the company. Morgan Stanley upgraded American Express from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $123.00 to $140.00 in a research report on Thursday, April 25th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $120.00 target price on shares of American Express in a research report on Friday, May 3rd. UBS Group lowered American Express from a “buy” rating to a “neutral” rating and set a $117.60 target price on the stock. in a research report on Monday, April 29th. Wells Fargo & Co reiterated a “buy” rating and issued a $125.00 target price (up previously from $115.00) on shares of American Express in a research report on Tuesday, March 12th. Finally, Credit Suisse Group reiterated a “hold” rating and issued a $93.00 target price on shares of American Express in a research report on Friday, January 18th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. American Express currently has a consensus rating of “Hold” and an average price target of $116.63.
American Express 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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