American Express Company $AXP Shares Sold by Oliver Luxxe Assets LLC

Oliver Luxxe Assets LLC lessened its stake in shares of American Express Company (NYSE:AXP) by 89.0% during the first quarter, Holdings Channel.com reports. The institutional investor owned 2,041 shares of the payment services company’s stock after selling 16,543 shares during the period. Oliver Luxxe Assets LLC’s holdings in American Express were worth $549,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of AXP. Investment Management Corp VA ADV purchased a new stake in shares of American Express in the fourth quarter valued at $29,000. MorganRosel Wealth Management LLC purchased a new stake in American Express during the 1st quarter worth about $29,000. Nexus Investment Management ULC acquired a new position in American Express in the 1st quarter valued at about $34,000. Hughes Financial Services LLC purchased a new position in American Express in the 1st quarter valued at about $35,000. Finally, IAG Wealth Partners LLC purchased a new position in American Express in the 1st quarter valued at about $40,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on AXP. Monness Crespi & Hardt downgraded shares of American Express from a “buy” rating to a “neutral” rating in a report on Tuesday, July 15th. JPMorgan Chase & Co. raised their target price on shares of American Express from $260.00 to $342.00 and gave the stock a “neutral” rating in a research report on Friday, July 11th. Keefe, Bruyette & Woods lifted their target price on shares of American Express from $360.00 to $371.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 9th. Wells Fargo & Company set a $327.00 price target on American Express in a research note on Wednesday, July 2nd. Finally, Barclays raised their price objective on American Express from $249.00 to $297.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 8th. Eight research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $311.05.

American Express Stock Performance

Shares of AXP stock opened at $318.9630 on Friday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.60 and a current ratio of 1.61. The firm has a market capitalization of $221.96 billion, a price-to-earnings ratio of 22.38, a price-to-earnings-growth ratio of 1.69 and a beta of 1.28. American Express Company has a one year low of $220.43 and a one year high of $329.14. The company has a 50 day moving average price of $308.48 and a 200 day moving average price of $289.89.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share for the quarter, beating analysts’ consensus estimates of $3.86 by $0.22. American Express had a net margin of 14.78% and a return on equity of 32.87%. The company had revenue of $17.86 billion for the quarter, compared to analyst estimates of $17.70 billion. During the same quarter last year, the business earned $3.49 EPS. American Express’s revenue for the quarter was up 9.3% on a year-over-year basis. Sell-side analysts anticipate that American Express Company will post 15.33 EPS for the current year.

American Express Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd were given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Thursday, July 3rd. American Express’s payout ratio is 23.02%.

Insider Buying and Selling at American Express

In other American Express news, insider Glenda G. Mcneal sold 50,000 shares of the company’s stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total transaction of $15,475,000.00. Following the completion of the sale, the insider directly owned 10,957 shares in the company, valued at $3,391,191.50. This represents a 82.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Laureen Seeger sold 16,998 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $294.83, for a total value of $5,011,520.34. Following the completion of the transaction, the insider owned 9,001 shares in the company, valued at approximately $2,653,764.83. This trade represents a 65.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 134,219 shares of company stock valued at $40,555,901. Company insiders own 0.20% of the company’s stock.

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.