OLD National Bancorp IN Has $1.06 Million Stock Holdings in American Express (NYSE:AXP)

OLD National Bancorp IN increased its stake in shares of American Express (NYSE:AXP) by 5.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,641 shares of the payment services company’s stock after purchasing an additional 291 shares during the quarter. OLD National Bancorp IN’s holdings in American Express were worth $1,057,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in AXP. Boston Partners acquired a new position in American Express during the 3rd quarter worth approximately $210,540,000. International Assets Investment Management LLC increased its position in American Express by 1,313.2% during the 4th quarter. International Assets Investment Management LLC now owns 768,769 shares of the payment services company’s stock worth $1,440,210,000 after purchasing an additional 714,370 shares in the last quarter. Canoe Financial LP acquired a new position in American Express during the 3rd quarter worth approximately $73,906,000. Schonfeld Strategic Advisors LLC increased its position in American Express by 636.7% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 442,307 shares of the payment services company’s stock worth $65,988,000 after purchasing an additional 382,272 shares in the last quarter. Finally, Cerity Partners LLC grew its holdings in American Express by 417.3% during the 4th quarter. Cerity Partners LLC now owns 415,696 shares of the payment services company’s stock worth $77,876,000 after acquiring an additional 335,338 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

American Express Price Performance

AXP opened at $238.88 on Wednesday. The firm has a market cap of $172.92 billion, a P/E ratio of 19.68, a PEG ratio of 1.32 and a beta of 1.23. The firm has a 50-day moving average of $221.05 and a 200 day moving average of $190.19. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.63 and a current ratio of 1.73. American Express has a fifty-two week low of $140.91 and a fifty-two week high of $239.42.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, April 19th. The payment services company reported $3.33 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.36. The company had revenue of $15.80 billion during the quarter, compared to analyst estimates of $15.79 billion. American Express had a net margin of 14.50% and a return on equity of 32.39%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.40 earnings per share. On average, research analysts expect that American Express will post 12.92 EPS for the current year.

American Express Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 5th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, April 4th. This represents a $0.40 dividend on an annualized basis and a yield of 0.17%. American Express’s dividend payout ratio is presently 23.06%.

Insiders Place Their Bets

In other American Express news, insider Howard Grosfield sold 7,029 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $203.65, for a total transaction of $1,431,455.85. Following the completion of the transaction, the insider now owns 12,388 shares in the company, valued at $2,522,816.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other American Express news, insider Howard Grosfield sold 7,029 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $203.65, for a total transaction of $1,431,455.85. Following the completion of the transaction, the insider now owns 12,388 shares in the company, valued at $2,522,816.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Laureen Seeger sold 84,420 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $212.98, for a total transaction of $17,979,771.60. Following the transaction, the insider now owns 57,512 shares of the company’s stock, valued at approximately $12,248,905.76. The disclosure for this sale can be found here. Insiders sold 172,047 shares of company stock worth $36,528,388 over the last quarter. 0.11% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on AXP shares. UBS Group boosted their target price on shares of American Express from $188.00 to $206.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. Barclays reissued an “equal weight” rating and set a $221.00 target price (up from $220.00) on shares of American Express in a report on Tuesday, April 9th. DZ Bank lowered shares of American Express from a “hold” rating to a “sell” rating in a report on Thursday, January 4th. Royal Bank of Canada boosted their target price on shares of American Express from $250.00 to $253.00 and gave the stock an “outperform” rating in a report on Monday. Finally, StockNews.com raised shares of American Express from a “hold” rating to a “buy” rating in a research note on Tuesday. Four analysts have rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, American Express currently has an average rating of “Hold” and a consensus price target of $208.24.

American Express Profile

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.