Park National Corp OH Sells 6,071 Shares of American Express (NYSE:AXP)

Park National Corp OH trimmed its position in shares of American Express (NYSE:AXP) by 16.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,367 shares of the payment services company’s stock after selling 6,071 shares during the period. Park National Corp OH’s holdings in American Express were worth $4,436,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in AXP. Wealth Alliance boosted its holdings in American Express by 1.6% during the third quarter. Wealth Alliance now owns 7,177 shares of the payment services company’s stock valued at $719,000 after acquiring an additional 112 shares during the period. ExodusPoint Capital Management LP boosted its holdings in American Express by 98.7% during the third quarter. ExodusPoint Capital Management LP now owns 9,919 shares of the payment services company’s stock valued at $994,000 after acquiring an additional 4,928 shares during the period. First City Capital Management Inc. boosted its holdings in American Express by 77.7% during the third quarter. First City Capital Management Inc. now owns 8,405 shares of the payment services company’s stock valued at $881,000 after acquiring an additional 3,676 shares during the period. Chartwell Investment Partners LLC boosted its holdings in American Express by 13.5% during the third quarter. Chartwell Investment Partners LLC now owns 40,710 shares of the payment services company’s stock valued at $4,081,000 after acquiring an additional 4,855 shares during the period. Finally, Te Ahumairangi Investment Management Ltd acquired a new position in shares of American Express during the third quarter valued at about $1,062,000. Institutional investors own 83.54% of the company’s stock.

In other news, insider Douglas E. Buckminster sold 32,833 shares of the stock in a transaction that occurred on Tuesday, March 9th. The shares were sold at an average price of $146.08, for a total transaction of $4,796,244.64. Following the sale, the insider now directly owns 111,247 shares of the company’s stock, valued at $16,250,961.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anre D. Williams sold 59,352 shares of the stock in a transaction that occurred on Friday, March 5th. The shares were sold at an average price of $145.88, for a total transaction of $8,658,269.76. Following the sale, the insider now directly owns 85,522 shares in the company, valued at $12,475,949.36. The disclosure for this sale can be found here. 0.20% of the stock is owned by corporate insiders.

A number of research analysts have recently commented on AXP shares. Oppenheimer cut their price objective on shares of American Express from $136.00 to $128.00 and set an “outperform” rating for the company in a research report on Wednesday, January 27th. JPMorgan Chase & Co. raised shares of American Express from an “underweight” rating to an “overweight” rating and set a $148.00 price objective for the company in a research report on Tuesday, January 19th. Morgan Stanley upped their price objective on shares of American Express from $165.00 to $166.00 and gave the company an “overweight” rating in a research report on Thursday, April 1st. Deutsche Bank Aktiengesellschaft upped their price objective on shares of American Express from $108.00 to $131.00 and gave the company a “buy” rating in a research report on Wednesday, January 6th. Finally, Barclays raised shares of American Express from an “equal weight” rating to a “positive” rating and upped their price objective for the company from $114.00 to $132.00 in a research report on Thursday, December 10th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company’s stock. American Express presently has a consensus rating of “Hold” and an average target price of $122.38.

Shares of American Express stock opened at $147.13 on Thursday. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 2.05. The stock has a market capitalization of $118.21 billion, a price-to-earnings ratio of 36.51, a P/E/G ratio of 3.27 and a beta of 1.36. American Express has a 1-year low of $76.00 and a 1-year high of $151.46. The firm’s 50-day moving average price is $141.29 and its two-hundred day moving average price is $120.54.

American Express (NYSE:AXP) last issued its quarterly earnings data on Monday, January 25th. The payment services company reported $1.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $0.50. American Express had a net margin of 8.84% and a return on equity of 21.31%. The firm had revenue of $9.35 billion for the quarter, compared to analysts’ expectations of $9.32 billion. During the same period in the prior year, the firm earned $2.03 earnings per share. The company’s quarterly revenue was down 17.7% compared to the same quarter last year. As a group, equities research analysts predict that American Express will post 4.85 EPS for the current year.

The business also recently declared a special dividend, which will be paid on Monday, May 10th. Stockholders of record on Friday, April 2nd will be paid a dividend of $0.43 per share. The ex-dividend date is Wednesday, March 31st. This represents a dividend yield of 1.2%. American Express’s dividend payout ratio (DPR) is currently 20.98%.

American Express Company Profile

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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