OLD National Bancorp IN Acquires 23,478 Shares of American Express Company $AXP

OLD National Bancorp IN increased its position in shares of American Express Company (NYSE:AXP) by 397.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,390 shares of the payment services company’s stock after buying an additional 23,478 shares during the period. OLD National Bancorp IN’s holdings in American Express were worth $9,375,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Olistico Wealth LLC increased its stake in shares of American Express by 13.0% during the second quarter. Olistico Wealth LLC now owns 4,427 shares of the payment services company’s stock valued at $1,412,000 after buying an additional 508 shares during the period. Realta Investment Advisors increased its stake in shares of American Express by 3.6% during the second quarter. Realta Investment Advisors now owns 4,047 shares of the payment services company’s stock valued at $1,291,000 after buying an additional 140 shares during the period. Wealthcare Advisory Partners LLC increased its stake in shares of American Express by 1.5% during the second quarter. Wealthcare Advisory Partners LLC now owns 4,481 shares of the payment services company’s stock valued at $1,429,000 after buying an additional 65 shares during the period. Accel Wealth Management increased its stake in shares of American Express by 8.7% during the second quarter. Accel Wealth Management now owns 1,806 shares of the payment services company’s stock valued at $576,000 after buying an additional 144 shares during the period. Finally, Checchi Capital Advisers LLC increased its stake in shares of American Express by 1.1% during the second quarter. Checchi Capital Advisers LLC now owns 6,378 shares of the payment services company’s stock valued at $2,034,000 after buying an additional 68 shares during the period. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Insider Buying and Selling

In related news, insider Glenda G. Mcneal sold 50,000 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $309.50, for a total value of $15,475,000.00. Following the transaction, the insider owned 10,957 shares in the company, valued at approximately $3,391,191.50. This represents a 82.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Stephen J. Squeri sold 112,272 shares of the stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $329.86, for a total transaction of $37,034,041.92. Following the completion of the transaction, the chief executive officer owned 92,810 shares in the company, valued at approximately $30,614,306.60. This trade represents a 54.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 269,996 shares of company stock worth $85,261,270 in the last quarter. 0.20% of the stock is currently owned by corporate insiders.

American Express Price Performance

Shares of NYSE AXP opened at $330.10 on Friday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.60 and a current ratio of 1.61. The company has a market cap of $229.71 billion, a PE ratio of 23.17, a P/E/G ratio of 1.75 and a beta of 1.29. The business has a 50-day simple moving average of $320.01 and a two-hundred day simple moving average of $298.43. American Express Company has a fifty-two week low of $220.43 and a fifty-two week high of $349.19.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.86 by $0.22. American Express had a return on equity of 32.87% and a net margin of 14.78%.The business had revenue of $17.86 billion during the quarter, compared to the consensus estimate of $17.70 billion. During the same quarter last year, the company earned $3.49 earnings per share. The company’s quarterly revenue was up 9.3% on a year-over-year basis. As a group, equities analysts expect that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Friday, October 10th will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, October 10th. American Express’s dividend payout ratio is 23.02%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Wells Fargo & Company raised their price target on American Express from $350.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, September 5th. Monness Crespi & Hardt lowered American Express from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 15th. DZ Bank lowered American Express from a “hold” rating to a “sell” rating in a research note on Monday, July 21st. JPMorgan Chase & Co. lifted their target price on American Express from $260.00 to $342.00 and gave the company a “neutral” rating in a research note on Friday, July 11th. Finally, Keefe, Bruyette & Woods lifted their target price on American Express from $371.00 to $394.00 and gave the company an “outperform” rating in a research note on Wednesday. Eight investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $319.95.

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.