Oliver Luxxe Assets LLC Has $549,000 Stock Holdings in American Express Company $AXP

Key Points

• Oliver Luxxe Assets LLC reduced its holdings in American Express by 89.0%, selling 16,543 shares and retaining only 2,041 shares worth $549,000 at the end of the reporting period.
• American Express stock saw a 3.5% increase, with a current ratio of 1.61 and a market cap of $221.96 billion following a reported earnings per share of $4.08, beating analysts' estimates.
• The company declared a quarterly dividend of $0.82, representing an annualized dividend yield of 1.0%, with a dividend payout ratio of 23.02%.

Oliver Luxxe Assets LLC lessened its holdings in shares of American Express Company (NYSE:AXP - Free Report) by 89.0% in the 1st quarter, according to its most recent filing with the SEC. The fund 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 have also recently added to or reduced their stakes in AXP. Brighton Jones LLC lifted its holdings in shares of American Express by 24.4% during the fourth quarter. Brighton Jones LLC now owns 6,481 shares of the payment services company's stock worth $1,924,000 after buying an additional 1,273 shares during the last quarter. Bank Pictet & Cie Europe AG increased its position in American Express by 24.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 2,633 shares of the payment services company's stock worth $781,000 after acquiring an additional 525 shares during the period. GHE LLC raised its stake in American Express by 2.7% during the 4th quarter. GHE LLC now owns 17,021 shares of the payment services company's stock valued at $5,052,000 after purchasing an additional 447 shares during the last quarter. Integrated Wealth Concepts LLC boosted its holdings in American Express by 2.1% in the 4th quarter. Integrated Wealth Concepts LLC now owns 18,268 shares of the payment services company's stock valued at $5,422,000 after purchasing an additional 371 shares during the period. Finally, Capital Analysts LLC grew its position in American Express by 12.9% in the 4th quarter. Capital Analysts LLC now owns 5,666 shares of the payment services company's stock worth $1,682,000 after purchasing an additional 647 shares during the last quarter. Institutional investors own 84.33% of the company's stock.

Insider Buying and Selling

In related news, insider Anna Marrs sold 5,500 shares of American Express stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $310.77, for a total transaction of $1,709,235.00. Following the completion of the transaction, the insider directly owned 20,311 shares of the company's stock, valued at $6,312,049.47. This trade represents a 21.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Glenda G. Mcneal sold 50,000 shares of the business's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $309.50, for a total transaction of $15,475,000.00. Following the completion of the transaction, the insider owned 10,957 shares in the company, valued at approximately $3,391,191.50. This trade represents a 82.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 134,219 shares of company stock worth $40,555,901 in the last quarter. 0.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

AXP has been the subject of a number of research analyst reports. Citigroup reaffirmed a "neutral" rating and set a $327.00 price objective (up previously from $300.00) on shares of American Express in a research report on Wednesday, July 2nd. BTIG Research set a $277.00 price target on American Express and gave the company a "sell" rating in a research note on Monday, July 14th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of American Express in a report on Monday, July 14th. William Blair reissued an "outperform" rating on shares of American Express in a report on Wednesday, July 2nd. Finally, Keefe, Bruyette & Woods upped their target price on American Express from $360.00 to $371.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Eight investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $311.05.

American Express Price Performance

Shares of AXP stock traded up $4.81 during trading hours on Tuesday, hitting $320.61. The company had a trading volume of 1,848,235 shares, compared to its average volume of 2,386,326. American Express Company has a 12 month low of $220.43 and a 12 month high of $329.14. 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's fifty day moving average is $309.48 and its 200 day moving average is $289.89. The firm has a market capitalization of $223.10 billion, a price-to-earnings ratio of 22.50, a PEG ratio of 1.67 and a beta of 1.28.

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

American Express Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd were issued a $0.82 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $3.28 annualized dividend and a dividend yield of 1.0%. American Express's dividend payout ratio is presently 23.02%.

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.