Park National Corp OH Sells 340 Shares of American Express (NYSE:AXP)

Park National Corp OH lessened its holdings in shares of American Express (NYSE:AXP) by 1.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,443 shares of the payment services company’s stock after selling 340 shares during the quarter. Park National Corp OH’s holdings in American Express were worth $4,731,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Cetera Advisors LLC raised its stake in American Express by 119.6% in the first quarter. Cetera Advisors LLC now owns 39,497 shares of the payment services company’s stock worth $8,993,000 after buying an additional 21,508 shares in the last quarter. Empowered Funds LLC boosted its position in shares of American Express by 102.9% during the first quarter. Empowered Funds LLC now owns 12,480 shares of the payment services company’s stock valued at $2,842,000 after purchasing an additional 6,329 shares in the last quarter. Sciencast Management LP bought a new stake in shares of American Express during the 1st quarter valued at $1,881,000. Oliver Lagore Vanvalin Investment Group boosted its stake in American Express by 2,196.4% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 8,244 shares of the payment services company’s stock worth $1,909,000 after acquiring an additional 7,885 shares in the last quarter. Finally, New Mexico Educational Retirement Board grew its holdings in American Express by 15.5% in the first quarter. New Mexico Educational Retirement Board now owns 35,763 shares of the payment services company’s stock worth $8,143,000 after purchasing an additional 4,800 shares during the period. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Price Performance

Shares of AXP stock opened at $270.90 on Thursday. The company has a market cap of $194.86 billion, a P/E ratio of 22.31, a PEG ratio of 1.48 and a beta of 1.21. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.66. The stock’s 50-day moving average is $252.74 and its 200 day moving average is $239.76. American Express has a 1-year low of $140.91 and a 1-year high of $272.68.

American Express (NYSE:AXP) last posted its earnings results on Friday, July 19th. The payment services company reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.26 by $0.23. American Express had a net margin of 15.53% and a return on equity of 32.94%. The company had revenue of $16.33 billion during the quarter, compared to analysts’ expectations of $16.60 billion. During the same quarter in the prior year, the company posted $2.89 earnings per share. American Express’s revenue for the quarter was up 9.2% compared to the same quarter last year. Research analysts predict that American Express will post 13.13 earnings per share for the current fiscal year.

American Express Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Friday, October 4th. American Express’s payout ratio is currently 23.06%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Wells Fargo & Company lifted their price objective on American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday. Barclays upped their price target on shares of American Express from $221.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 9th. Royal Bank of Canada raised their price objective on shares of American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Compass Point initiated coverage on shares of American Express in a report on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price target on the stock. Finally, Monness Crespi & Hardt boosted their price objective on shares of American Express from $260.00 to $265.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $231.43.

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.