American Express Company (NYSE:AXP) Shares Bought by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. raised its holdings in American Express Company (NYSE:AXP) by 13.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 56,909 shares of the payment services company's stock after purchasing an additional 6,900 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in American Express were worth $15,311,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Investment Management Corp VA ADV purchased a new position in American Express during the fourth quarter valued at approximately $29,000. Sellwood Investment Partners LLC purchased a new stake in shares of American Express in the fourth quarter valued at approximately $33,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of American Express during the 4th quarter worth approximately $33,000. Nexus Investment Management ULC purchased a new position in shares of American Express during the 1st quarter valued at approximately $34,000. Finally, Curio Wealth LLC acquired a new stake in American Express in the 4th quarter valued at $37,000. 84.33% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Howard Grosfield sold 9,450 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $275.50, for a total value of $2,603,475.00. Following the sale, the insider now owns 9,402 shares in the company, valued at approximately $2,590,251. The trade was a 50.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Glenda G. Mcneal sold 3,019 shares of the firm's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $264.66, for a total value of $799,008.54. Following the transaction, the insider now owns 10,919 shares of the company's stock, valued at $2,889,822.54. This trade represents a 21.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.

American Express Trading Up 0.7%

Shares of AXP stock opened at $298.50 on Monday. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. American Express Company has a twelve month low of $220.43 and a twelve month high of $326.28. The company's 50-day moving average price is $283.36 and its 200-day moving average price is $288.59. The stock has a market cap of $209.13 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 1.45 and a beta of 1.25.

American Express (NYSE:AXP - Get Free Report) last posted its earnings results on Thursday, April 17th. The payment services company reported $3.64 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.17. The company had revenue of $16.97 billion for the quarter, compared to analyst estimates of $17.04 billion. American Express had a net margin of 15.31% and a return on equity of 32.48%. During the same period in the previous year, the business posted $3.33 EPS. As a group, equities analysts predict that American Express Company will post 15.33 earnings per share for the current year.

American Express Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be issued a $0.82 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $3.28 annualized dividend and a dividend yield of 1.10%. American Express's dividend payout ratio is currently 22.91%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Truist Financial upped their price objective on shares of American Express from $315.00 to $335.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Baird R W upgraded shares of American Express from a "strong sell" rating to a "hold" rating in a research report on Friday, March 14th. Robert W. Baird raised shares of American Express from an "underperform" rating to a "neutral" rating and set a $265.00 price target on the stock in a research note on Friday, March 14th. JPMorgan Chase & Co. lifted their price objective on American Express from $244.00 to $260.00 and gave the stock a "neutral" rating in a report on Monday, April 21st. Finally, Bank of America raised American Express from a "neutral" rating to a "buy" rating and reduced their target price for the company from $325.00 to $274.00 in a report on Friday, April 11th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $296.05.

About American Express

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.

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 Company (NYSE:AXP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.