1ST Source Bank Sells 558 Shares of American Express (NYSE:AXP)

1ST Source Bank lessened its position in American Express (NYSE:AXP) by 1.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 31,354 shares of the payment services company’s stock after selling 558 shares during the period. American Express comprises 0.5% of 1ST Source Bank’s portfolio, making the stock its 27th largest holding. 1ST Source Bank’s holdings in American Express were worth $9,306,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AXP. Prospera Private Wealth LLC bought a new position in shares of American Express in the third quarter worth approximately $27,000. True Wealth Design LLC lifted its stake in shares of American Express by 332.0% in the third quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock worth $29,000 after buying an additional 83 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of American Express in the third quarter worth approximately $38,000. Financial Life Planners bought a new position in shares of American Express in the fourth quarter worth approximately $38,000. Finally, Sierra Ocean LLC bought a new position in shares of American Express in the fourth quarter worth approximately $40,000. Institutional investors own 84.33% of the company’s stock.

Insider Buying and Selling

In other American Express news, insider Raymond Joabar sold 15,179 shares of the stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $313.94, for a total transaction of $4,765,295.26. Following the completion of the transaction, the insider now owns 23,866 shares in the company, valued at $7,492,492.04. This trade represents a 38.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael J. Angelakis acquired 3,700 shares of the stock in a transaction on Friday, March 7th. The shares were acquired at an average price of $269.89 per share, with a total value of $998,593.00. Following the transaction, the director now directly owns 3,700 shares of the company’s stock, valued at $998,593. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.12% of the stock is owned by company insiders.

American Express Stock Performance

Shares of NYSE AXP opened at $266.04 on Monday. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57. The firm has a fifty day moving average price of $301.59 and a 200-day moving average price of $288.41. American Express has a 1 year low of $214.51 and a 1 year high of $326.27. The stock has a market cap of $186.90 billion, a PE ratio of 18.99, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21.

American Express (NYSE:AXP) last issued its earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share for the quarter, topping analysts’ consensus estimates of $3.00 by $0.04. American Express had a net margin of 15.36% and a return on equity of 32.65%. Equities analysts anticipate that American Express will post 15.33 earnings per share for the current fiscal year.

American Express Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 4th will be given a dividend of $0.82 per share. This is a positive change from American Express’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, April 4th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.23%. American Express’s dividend payout ratio is currently 23.41%.

Analyst Ratings Changes

A number of research analysts recently weighed in on AXP shares. StockNews.com downgraded shares of American Express from a “buy” rating to a “hold” rating in a research report on Monday, January 27th. Royal Bank of Canada increased their price objective on shares of American Express from $330.00 to $350.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. Baird R W upgraded shares of American Express from a “strong sell” rating to a “hold” rating in a research report on Friday. Evercore ISI increased their price objective on shares of American Express from $315.00 to $344.00 and gave the company an “in-line” rating in a research report on Monday, January 27th. Finally, Monness Crespi & Hardt increased their price objective on shares of American Express from $330.00 to $355.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Two 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $299.24.

American Express Company 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.