1ST Source Bank reduced its stake in American Express (NYSE:AXP – Free Report) by 1.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,305 shares of the payment services company’s stock after selling 538 shares during the period. 1ST Source Bank’s holdings in American Express were worth $6,324,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of AXP. Swiss National Bank bought a new stake in American Express in the 2nd quarter valued at about $397,678,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of American Express by 2.7% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 103,699 shares of the payment services company’s stock valued at $18,064,000 after acquiring an additional 2,772 shares in the last quarter. Andra AP fonden increased its holdings in shares of American Express by 27.7% during the second quarter. Andra AP fonden now owns 41,948 shares of the payment services company’s stock valued at $7,307,000 after acquiring an additional 9,100 shares in the last quarter. Avalon Trust Co increased its stake in American Express by 73.4% during the 2nd quarter. Avalon Trust Co now owns 685 shares of the payment services company’s stock valued at $119,000 after purchasing an additional 290 shares in the last quarter. Finally, KLCM Advisors Inc. bought a new stake in American Express during the 2nd quarter valued at $225,000. 83.08% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other news, Director Walter Joseph Clayton III acquired 1,000 shares of the business’s stock in a transaction dated Tuesday, October 24th. The stock was bought at an average cost of $143.93 per share, for a total transaction of $143,930.00. Following the completion of the transaction, the director now owns 2,000 shares of the company’s stock, valued at $287,860. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.12% of the stock is owned by corporate insiders.
American Express Price Performance
American Express (NYSE:AXP – Get Free Report) last released its quarterly earnings data on Friday, October 20th. The payment services company reported $3.30 EPS for the quarter, topping the consensus estimate of $2.96 by $0.34. American Express had a net margin of 13.61% and a return on equity of 30.60%. The company had revenue of $15.38 billion during the quarter, compared to the consensus estimate of $15.36 billion. During the same period last year, the firm earned $2.47 EPS. American Express’s revenue for the quarter was up 13.5% on a year-over-year basis. Equities analysts forecast that American Express will post 11.19 EPS for the current year.
American Express Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, November 10th. Shareholders of record on Friday, October 6th were paid a $0.60 dividend. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $2.40 annualized dividend and a yield of 1.55%. American Express’s dividend payout ratio is currently 22.51%.
Analyst Ratings Changes
AXP has been the subject of a number of recent research reports. Oppenheimer decreased their price target on shares of American Express from $190.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday, October 11th. HSBC initiated coverage on American Express in a report on Friday, October 13th. They set a “buy” rating and a $181.00 price objective for the company. Bank of America decreased their price objective on American Express from $203.00 to $202.00 in a report on Thursday, October 5th. TD Cowen started coverage on American Express in a report on Wednesday, November 1st. They set a “market perform” rating and a $158.00 price target for the company. Finally, The Goldman Sachs Group reduced their target price on shares of American Express from $191.00 to $190.00 in a research note on Monday, October 2nd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $170.95.
American Express Profile
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.
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