OLD Second National Bank of Aurora Cuts Stock Holdings in American Express (NYSE:AXP)

OLD Second National Bank of Aurora decreased its stake in shares of American Express (NYSE:AXP) by 9.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,000 shares of the payment services company’s stock after selling 100 shares during the period. OLD Second National Bank of Aurora’s holdings in American Express were worth $228,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. OLD National Bancorp IN lifted its holdings in American Express by 35.4% during the third quarter. OLD National Bancorp IN now owns 5,350 shares of the payment services company’s stock worth $798,000 after acquiring an additional 1,400 shares during the period. Comerica Bank lifted its holdings in American Express by 222.5% during the third quarter. Comerica Bank now owns 163,709 shares of the payment services company’s stock worth $24,424,000 after acquiring an additional 112,952 shares during the period. EP Wealth Advisors LLC raised its stake in shares of American Express by 9.3% in the third quarter. EP Wealth Advisors LLC now owns 19,905 shares of the payment services company’s stock valued at $2,970,000 after buying an additional 1,690 shares during the period. Banque Pictet & Cie SA bought a new stake in shares of American Express in the third quarter valued at $485,000. Finally, Neo Ivy Capital Management bought a new stake in shares of American Express in the third quarter valued at $1,600,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Stock Up 0.4 %

Shares of American Express stock traded up $1.05 during midday trading on Friday, hitting $239.80. The company had a trading volume of 1,329,787 shares, compared to its average volume of 2,989,917. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.62 and a current ratio of 1.62. The stock has a market capitalization of $172.49 billion, a P/E ratio of 19.66, a P/E/G ratio of 1.36 and a beta of 1.21. The company has a 50 day moving average of $234.80 and a 200 day moving average of $219.28. American Express has a 52-week low of $140.91 and a 52-week high of $244.41.

American Express (NYSE:AXP) last issued its earnings results on Friday, April 19th. The payment services company reported $3.33 EPS for the quarter, beating the consensus estimate of $2.97 by $0.36. American Express had a return on equity of 32.46% and a net margin of 14.50%. The business had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $15.79 billion. During the same period last year, the business posted $2.40 EPS. The company’s revenue was up 10.6% compared to the same quarter last year. On average, equities analysts predict that American Express will post 12.98 earnings per share for the current fiscal year.

American Express Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be paid a $0.70 dividend. This is an increase from American Express’s previous quarterly dividend of $0.10. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Friday, July 5th. American Express’s dividend payout ratio (DPR) is 23.06%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AXP. BMO Capital Markets boosted their target price on American Express from $167.00 to $175.00 and gave the company an “underperform” rating in a research note on Monday, April 22nd. Wells Fargo & Company boosted their target price on American Express from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Tuesday. Keefe, Bruyette & Woods boosted their price objective on American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a research note on Monday. Barclays boosted their price objective on American Express from $221.00 to $223.00 and gave the company an “equal weight” rating in a research note on Tuesday. Finally, HSBC boosted their price objective on American Express from $232.00 to $239.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, American Express has an average rating of “Hold” and a consensus target price of $225.50.

Insider Transactions at American Express

In related news, insider Jennifer Skyler sold 14,802 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $241.73, for a total value of $3,578,087.46. Following the transaction, the insider now directly owns 16,371 shares of the company’s stock, valued at approximately $3,957,361.83. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Stephen J. Squeri sold 38,873 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $238.63, for a total value of $9,276,263.99. Following the transaction, the chief executive officer now directly owns 76,310 shares of the company’s stock, valued at approximately $18,209,855.30. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jennifer Skyler sold 14,802 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $241.73, for a total value of $3,578,087.46. Following the sale, the insider now directly owns 16,371 shares in the company, valued at $3,957,361.83. The disclosure for this sale can be found here. Insiders have sold a total of 177,717 shares of company stock worth $41,680,999 in the last ninety days. Insiders own 0.12% of the company’s stock.

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.