1ST Source Bank Sells 2,029 Shares of American Express Company $AXP

1ST Source Bank trimmed its holdings in American Express Company (NYSE:AXP - Free Report) by 6.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,173 shares of the payment services company's stock after selling 2,029 shares during the quarter. American Express accounts for 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 as of its most recent SEC filing.

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Several other hedge funds and other institutional investors have also modified their holdings of AXP. Briaud Financial Planning Inc acquired a new stake in American Express in the 2nd quarter worth $26,000. Access Investment Management LLC bought a new stake in shares of American Express in the second quarter valued at about $26,000. Hughes Financial Services LLC bought a new stake in shares of American Express in the first quarter valued at about $35,000. 1 North Wealth Services LLC acquired a new stake in American Express during the first quarter worth about $37,000. Finally, Chung Wu Investment Group LLC bought a new position in American Express during the second quarter valued at about $37,000. Institutional investors and hedge funds own 84.33% of the company's stock.

Insider Activity

In other American Express news, insider Denise Pickett sold 5,000 shares of the company's stock in a transaction that occurred on Wednesday, October 22nd. The stock was sold at an average price of $350.73, for a total transaction of $1,753,650.00. Following the sale, the insider owned 7,726 shares in the company, valued at $2,709,739.98. This represents a 39.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Stephen J. Squeri sold 112,272 shares of American Express stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $329.86, for a total value of $37,034,041.92. Following the completion of the transaction, the chief executive officer owned 92,810 shares of the company's stock, valued at approximately $30,614,306.60. The trade was a 54.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 193,292 shares of company stock worth $65,363,878 over the last ninety days. Insiders own 0.20% of the company's stock.

Analyst Ratings Changes

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A number of brokerages have commented on AXP. Evercore ISI raised their price objective on American Express from $330.00 to $365.00 and gave the stock an "in-line" rating in a research report on Tuesday, September 30th. JPMorgan Chase & Co. upped their target price on American Express from $343.00 to $355.00 and gave the company a "neutral" rating in a research note on Tuesday, October 7th. Wells Fargo & Company lifted their price target on shares of American Express from $375.00 to $400.00 and gave the stock an "overweight" rating in a research note on Monday, October 20th. DZ Bank raised shares of American Express from a "sell" rating to a "hold" rating and set a $340.00 price target on the stock in a report on Tuesday, October 21st. Finally, UBS Group increased their price objective on shares of American Express from $330.00 to $340.00 and gave the company a "neutral" rating in a research note on Tuesday, October 7th. Eight equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $332.65.

Get Our Latest Research Report on AXP

American Express Trading Up 0.9%

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Shares of AXP opened at $368.90 on Friday. American Express Company has a 12 month low of $220.43 and a 12 month high of $370.00. The stock's 50-day moving average is $339.73 and its two-hundred day moving average is $314.36. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.61 and a quick ratio of 1.59. The stock has a market cap of $254.12 billion, a PE ratio of 24.76, a P/E/G ratio of 1.90 and a beta of 1.27.

American Express (NYSE:AXP - Get Free Report) last announced its earnings results on Friday, October 17th. The payment services company reported $4.14 EPS for the quarter, beating the consensus estimate of $3.98 by $0.16. The business had revenue of $18.43 billion for the quarter, compared to the consensus estimate of $18.03 billion. American Express had a return on equity of 33.41% and a net margin of 14.97%.The company's revenue was up 11.0% on a year-over-year basis. During the same period last year, the business posted $3.49 EPS. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. Equities analysts forecast that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Dividend Announcement

The business 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. The ex-dividend date of this dividend is Friday, October 10th. This represents a $3.28 annualized dividend and a yield of 0.9%. American Express's dividend payout ratio is currently 22.01%.

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.

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