Huntington National Bank Sells 2,012 Shares of American Express (NYSE:AXP)

Huntington National Bank lessened its stake in American Express (NYSE:AXP) by 1.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 134,106 shares of the payment services company’s stock after selling 2,012 shares during the quarter. Huntington National Bank’s holdings in American Express were worth $39,801,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AXP. Newbridge Financial Services Group Inc. bought a new position in shares of American Express during the 4th quarter worth approximately $832,000. World Investment Advisors LLC lifted its holdings in American Express by 430.6% during the 3rd quarter. World Investment Advisors LLC now owns 4,765 shares of the payment services company’s stock valued at $1,292,000 after purchasing an additional 3,867 shares during the last quarter. Keybank National Association OH boosted its position in American Express by 3.7% during the fourth quarter. Keybank National Association OH now owns 349,937 shares of the payment services company’s stock worth $103,858,000 after purchasing an additional 12,364 shares during the period. LVM Capital Management Ltd. MI increased its holdings in shares of American Express by 3.1% in the fourth quarter. LVM Capital Management Ltd. MI now owns 86,344 shares of the payment services company’s stock valued at $25,626,000 after purchasing an additional 2,557 shares during the last quarter. Finally, Edge Capital Group LLC increased its holdings in shares of American Express by 20.9% in the fourth quarter. Edge Capital Group LLC now owns 6,451 shares of the payment services company’s stock valued at $1,915,000 after purchasing an additional 1,113 shares during the last quarter. 84.33% of the stock is owned by institutional investors.

Insider Buying and Selling

In other American Express news, Director Michael J. Angelakis bought 3,700 shares of American Express stock in a transaction dated Friday, March 7th. The stock was purchased at an average price of $269.89 per share, for a total transaction of $998,593.00. Following the completion of the purchase, the director now directly owns 3,700 shares of the company’s stock, valued at approximately $998,593. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $319.17, for a total transaction of $3,027,327.45. Following the sale, the insider now owns 13,500 shares in the company, valued at $4,308,795. The trade was a 41.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. HSBC boosted their price objective on American Express from $270.00 to $294.00 and gave the stock a “hold” rating in a report on Friday, January 24th. StockNews.com downgraded American Express from a “buy” rating to a “hold” rating in a research note on Monday, January 27th. Compass Point lowered their price objective on American Express from $325.00 to $309.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Keefe, Bruyette & Woods boosted their target price on shares of American Express from $350.00 to $360.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. Finally, Citigroup decreased their price target on shares of American Express from $320.00 to $300.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $302.57.

American Express Price Performance

Shares of NYSE:AXP opened at $270.31 on Wednesday. The company has a market capitalization of $189.90 billion, a P/E ratio of 19.29, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21. The company’s 50-day moving average is $293.20 and its 200 day moving average is $289.86. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58. American Express has a fifty-two week low of $214.51 and a fifty-two week high of $326.28.

American Express (NYSE:AXP) last released its earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share for the quarter, beating analysts’ consensus estimates of $3.00 by $0.04. American Express had a net margin of 15.36% and a return on equity of 32.65%. On average, equities research analysts forecast that American Express will post 15.33 earnings per share for the current year.

American Express Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be paid a dividend of $0.82 per share. This is an increase from American Express’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, April 4th. This represents a $3.28 annualized dividend and a dividend yield of 1.21%. American Express’s dividend payout ratio is presently 23.41%.

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.