Independence Bank of Kentucky Has $164,000 Stock Position in American Express (NYSE:AXP)

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Independence Bank of Kentucky trimmed its stake in shares of American Express (NYSE:AXP) by 8.3% during the third quarter, Holdings Channel reports. The firm owned 1,390 shares of the payment services company’s stock after selling 125 shares during the period. Independence Bank of Kentucky’s holdings in American Express were worth $164,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AXP. Garrett Wealth Advisory Group LLC bought a new stake in shares of American Express in the 3rd quarter valued at about $27,000. HMS Capital Management LLC bought a new position in American Express in the 2nd quarter valued at about $37,000. Enterprise Trust & Investment Co bought a new position in American Express in the 3rd quarter valued at about $38,000. Candriam Luxembourg S.C.A. raised its holdings in American Express by 12.9% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 332,102 shares of the payment services company’s stock valued at $40,000 after acquiring an additional 38,031 shares during the period. Finally, Edge Wealth Management LLC raised its holdings in American Express by 140.3% in the 2nd quarter. Edge Wealth Management LLC now owns 370 shares of the payment services company’s stock valued at $46,000 after acquiring an additional 216 shares during the period. 83.90% of the stock is currently owned by institutional investors.

Shares of AXP traded down $0.19 during mid-day trading on Tuesday, hitting $118.86. 13,253 shares of the company’s stock were exchanged, compared to its average volume of 3,314,359. American Express has a 52 week low of $89.05 and a 52 week high of $129.34. The stock’s 50-day simple moving average is $117.47 and its 200-day simple moving average is $119.78. The firm has a market cap of $96.87 billion, a price-to-earnings ratio of 16.22, a price-to-earnings-growth ratio of 1.41 and a beta of 1.06. The company has a quick ratio of 1.84, a current ratio of 2.12 and a debt-to-equity ratio of 2.52.

American Express (NYSE:AXP) last announced its earnings results on Friday, October 18th. The payment services company reported $2.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.07 by $0.01. The company had revenue of $10.99 billion for the quarter, compared to analysts’ expectations of $10.94 billion. American Express had a net margin of 16.51% and a return on equity of 29.69%. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period last year, the firm earned $1.88 earnings per share. Analysts forecast that American Express will post 8.15 earnings per share for the current fiscal year.

The company also recently declared a 0.39000 dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be given a dividend of $0.43 per share. The ex-dividend date is Thursday, October 3rd. This represents a dividend yield of 1.3%. American Express’s dividend payout ratio is 23.47%.

AXP has been the topic of several research analyst reports. Deutsche Bank started coverage on shares of American Express in a report on Monday, July 8th. They issued a “buy” rating and a $142.00 price target on the stock. JPMorgan Chase & Co. set a $122.00 target price on shares of American Express and gave the stock a “hold” rating in a report on Tuesday, October 8th. Oppenheimer set a $127.00 target price on shares of American Express and gave the stock a “buy” rating in a report on Tuesday, October 15th. Cfra reaffirmed a “hold” rating on shares of American Express in a report on Friday. Finally, William Blair reaffirmed a “buy” rating on shares of American Express in a report on Friday. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $124.56.

In related news, CEO Stephen J. Squeri sold 15,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $118.33, for a total transaction of $1,774,950.00. Following the sale, the chief executive officer now owns 199,609 shares in the company, valued at approximately $23,619,732.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jeffrey C. Campbell sold 7,045 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $124.91, for a total transaction of $879,990.95. Following the sale, the chief financial officer now owns 59,620 shares in the company, valued at approximately $7,447,134.20. The disclosure for this sale can be found here. Insiders have sold a total of 37,500 shares of company stock worth $4,618,653 in the last quarter. 0.21% of the stock is currently owned by company insiders.

About American Express

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services to consumers and businesses worldwide. It operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.

Further Reading: Bid-Ask Spread

Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express (NYSE:AXP).

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

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