Indiana Trust & Investment Management Co Cuts Stake in American Express (NYSE:AXP)

Indiana Trust & Investment Management Co trimmed its stake in American Express (NYSE:AXP) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,762 shares of the payment services company’s stock after selling 80 shares during the quarter. Indiana Trust & Investment Management Co’s holdings in American Express were worth $820,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC grew its stake in shares of American Express by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 11,483,512 shares of the payment services company’s stock valued at $3,104,735,000 after buying an additional 86,100 shares during the period. FMR LLC boosted its holdings in American Express by 8.5% in the third quarter. FMR LLC now owns 11,003,715 shares of the payment services company’s stock valued at $2,984,208,000 after acquiring an additional 866,110 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in American Express by 5.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,606,986 shares of the payment services company’s stock valued at $1,249,415,000 after acquiring an additional 239,173 shares during the last quarter. Janus Henderson Group PLC grew its position in American Express by 0.8% during the third quarter. Janus Henderson Group PLC now owns 3,960,842 shares of the payment services company’s stock valued at $1,074,168,000 after acquiring an additional 33,193 shares during the period. Finally, Nordea Investment Management AB increased its stake in American Express by 12.7% during the fourth quarter. Nordea Investment Management AB now owns 2,203,772 shares of the payment services company’s stock worth $655,137,000 after acquiring an additional 247,864 shares during the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Evercore ISI boosted their target price on American Express from $315.00 to $344.00 and gave the stock an “in-line” rating in a report on Monday, January 27th. UBS Group boosted their price objective on shares of American Express from $283.00 to $320.00 and gave the stock a “neutral” rating in a research note on Monday, January 13th. William Blair reissued an “outperform” rating on shares of American Express in a research report on Monday, January 27th. BTIG Research lifted their target price on shares of American Express from $266.00 to $270.00 and gave the company a “sell” rating in a report on Friday, January 24th. Finally, TD Cowen increased their price target on American Express from $260.00 to $268.00 and gave the company a “hold” rating in a report on Monday, October 21st. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, American Express currently has an average rating of “Hold” and a consensus target price of $296.38.

American Express Stock Performance

Shares of AXP opened at $309.61 on Wednesday. The firm has a market cap of $218.11 billion, a price-to-earnings ratio of 22.10, a PEG ratio of 1.50 and a beta of 1.24. The company has a quick ratio of 1.63, a current ratio of 1.67 and a debt-to-equity ratio of 1.64. The business’s 50 day moving average is $306.45 and its two-hundred day moving average is $280.80. American Express has a 52-week low of $207.61 and a 52-week high of $326.27.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.00 by $0.04. American Express had a net margin of 15.36% and a return on equity of 32.65%. Analysts forecast that American Express will post 15.32 EPS for the current fiscal year.

American Express Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Friday, January 3rd were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.80 annualized dividend and a dividend yield of 0.90%. American Express’s payout ratio is 19.99%.

Insider Buying and Selling

In related news, insider Ravikumar Radhakrishnan sold 9,485 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $319.17, for a total transaction of $3,027,327.45. Following the transaction, the insider now directly owns 13,500 shares in the company, valued at $4,308,795. This trade represents a 41.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Raymond Joabar sold 15,179 shares of the business’s 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 sale, the insider now owns 23,866 shares of the company’s stock, valued at approximately $7,492,492.04. The trade was a 38.88 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,664 shares of company stock worth $9,613,503. Corporate insiders own 0.11% of the company’s stock.

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.