OLD National Bancorp IN Raises Position in American Express (NYSE:AXP)

OLD National Bancorp IN grew its position in American Express (NYSE:AXP) by 17.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,083 shares of the payment services company’s stock after acquiring an additional 920 shares during the period. OLD National Bancorp IN’s holdings in American Express were worth $1,650,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new stake in shares of American Express in the first quarter valued at about $51,000. Riverview Trust Co acquired a new stake in shares of American Express in the first quarter valued at about $38,000. Dynamic Advisor Solutions LLC lifted its stake in shares of American Express by 86.4% in the first quarter. Dynamic Advisor Solutions LLC now owns 12,793 shares of the payment services company’s stock valued at $2,913,000 after purchasing an additional 5,928 shares during the period. Hoxton Planning & Management LLC lifted its stake in shares of American Express by 7.1% in the first quarter. Hoxton Planning & Management LLC now owns 1,229 shares of the payment services company’s stock valued at $280,000 after purchasing an additional 82 shares during the period. Finally, West Paces Advisors Inc. lifted its stake in shares of American Express by 14.1% in the first quarter. West Paces Advisors Inc. now owns 584 shares of the payment services company’s stock valued at $133,000 after purchasing an additional 72 shares during the period. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Stock Down 2.2 %

AXP stock opened at $270.74 on Tuesday. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.66. American Express has a fifty-two week low of $140.91 and a fifty-two week high of $286.36. The stock has a market capitalization of $194.74 billion, a price-to-earnings ratio of 22.30, a PEG ratio of 1.50 and a beta of 1.21. The business’s fifty day moving average price is $261.94 and its two-hundred day moving average price is $244.38.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.22. The company had revenue of $16.64 billion for the quarter, compared to analysts’ expectations of $16.68 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. American Express’s revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the business earned $3.30 earnings per share. On average, equities analysts anticipate that American Express will post 13.14 earnings per share for the current year.

American Express Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 4th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s payout ratio is 23.06%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AXP. The Goldman Sachs Group raised their price objective on shares of American Express from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Keefe, Bruyette & Woods lifted their target price on shares of American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. Jefferies Financial Group lifted their target price on shares of American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a research report on Tuesday, July 9th. Evercore ISI lifted their target price on shares of American Express from $275.00 to $290.00 and gave the stock an “in-line” rating in a research report on Monday, October 7th. Finally, Monness Crespi & Hardt lifted their target price on shares of American Express from $265.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, American Express currently has a consensus rating of “Hold” and an average price target of $244.58.

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.