Oliver Luxxe Assets LLC Sells 205 Shares of American Express (NYSE:AXP)

Oliver Luxxe Assets LLC lowered its position in American Express (NYSE:AXP) by 1.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,379 shares of the payment services company’s stock after selling 205 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in American Express were worth $5,455,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of AXP. Auxier Asset Management lifted its holdings in shares of American Express by 0.5% during the 3rd quarter. Auxier Asset Management now owns 7,133 shares of the payment services company’s stock worth $1,934,000 after acquiring an additional 35 shares during the period. Abel Hall LLC lifted its stake in American Express by 3.6% during the third quarter. Abel Hall LLC now owns 1,011 shares of the payment services company’s stock worth $274,000 after purchasing an additional 35 shares during the period. Sovereign Financial Group Inc. boosted its holdings in American Express by 2.7% during the third quarter. Sovereign Financial Group Inc. now owns 1,467 shares of the payment services company’s stock valued at $398,000 after purchasing an additional 38 shares in the last quarter. Legacy Financial Strategies LLC grew its stake in shares of American Express by 2.5% in the 3rd quarter. Legacy Financial Strategies LLC now owns 1,632 shares of the payment services company’s stock valued at $443,000 after purchasing an additional 40 shares during the period. Finally, Concord Wealth Partners lifted its position in shares of American Express by 10.5% during the 3rd quarter. Concord Wealth Partners now owns 422 shares of the payment services company’s stock worth $114,000 after buying an additional 40 shares during the period. 84.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AXP. Hsbc Global Res lowered shares of American Express from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 8th. Monness Crespi & Hardt lifted their price objective on American Express from $300.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. raised their target price on American Express from $286.00 to $301.00 and gave the company a “neutral” rating in a research note on Monday, December 9th. TD Cowen upped their price target on shares of American Express from $260.00 to $268.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Finally, The Goldman Sachs Group boosted their target price on shares of American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $268.95.

Insider Transactions at American Express

In other American Express news, insider Anre D. Williams sold 77,887 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $270.26, for a total transaction of $21,049,740.62. Following the transaction, the insider now owns 111,656 shares in the company, valued at $30,176,150.56. This trade represents a 41.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $270.98, for a total value of $3,552,818.78. Following the sale, the insider now owns 109,691 shares of the company’s stock, valued at approximately $29,724,067.18. The trade was a 10.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 96,998 shares of company stock valued at $26,423,439. 0.12% of the stock is currently owned by company insiders.

American Express Stock Performance

AXP stock traded down $1.59 during midday trading on Monday, reaching $301.49. 1,954,696 shares of the company were exchanged, compared to its average volume of 1,932,430. American Express has a one year low of $177.81 and a one year high of $307.82. The firm has a market capitalization of $212.38 billion, a price-to-earnings ratio of 22.18, a price-to-earnings-growth ratio of 1.73 and a beta of 1.23. The business has a 50-day moving average price of $293.99 and a two-hundred day moving average price of $267.17. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.63 and a quick ratio of 1.63.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.22. American Express had a net margin of 15.32% and a return on equity of 32.46%. The business had revenue of $16.64 billion for the quarter, compared to analyst estimates of $16.68 billion. During the same quarter in the prior year, the business earned $3.30 EPS. American Express’s quarterly revenue was up 8.2% on a year-over-year basis. Equities research analysts forecast that American Express will post 13.4 EPS for the current year.

American Express Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Friday, January 3rd will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.93%. American Express’s payout ratio is presently 20.60%.

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.