American Express Company (NYSE:AXP) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lowered its position in American Express Company (NYSE:AXP - Free Report) by 27.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,550 shares of the payment services company's stock after selling 5,167 shares during the period. Oppenheimer Asset Management Inc.'s holdings in American Express were worth $3,646,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Investment Management Corp VA ADV purchased a new stake in American Express in the fourth quarter worth about $29,000. Sellwood Investment Partners LLC bought a new position in American Express during the fourth quarter valued at approximately $33,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of American Express in the 4th quarter worth $33,000. Nexus Investment Management ULC purchased a new position in American Express in the first quarter worth about $34,000. Finally, Curio Wealth LLC bought a new stake in American Express during the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 84.33% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Baird R W raised shares of American Express from a "strong sell" rating to a "hold" rating in a research report on Friday, March 14th. Royal Bank Of Canada reiterated an "outperform" rating and set a $310.00 target price on shares of American Express in a research report on Monday, April 21st. Argus downgraded shares of American Express from a "strong-buy" rating to a "hold" rating in a report on Friday, March 14th. Redburn Atlantic raised shares of American Express from a "sell" rating to a "neutral" rating and dropped their price objective for the company from $270.00 to $255.00 in a report on Wednesday, April 23rd. Finally, Truist Financial lifted their target price on American Express from $315.00 to $335.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $296.05.

American Express Trading Up 2.1%

AXP stock traded up $6.67 during trading on Friday, hitting $318.09. The company had a trading volume of 802,367 shares, compared to its average volume of 2,818,922. The firm has a market capitalization of $222.85 billion, a P/E ratio of 22.22, a PEG ratio of 1.50 and a beta of 1.25. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. American Express Company has a 52-week low of $220.43 and a 52-week high of $326.28. The company has a 50 day simple moving average of $287.57 and a 200-day simple moving average of $288.94.

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

American Express Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Thursday, July 3rd. American Express's payout ratio is 22.91%.

Insider Buying and Selling at American Express

In other news, insider Howard Grosfield sold 9,450 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $275.50, for a total value of $2,603,475.00. Following the sale, the insider now directly owns 9,402 shares in the company, valued at approximately $2,590,251. This trade represents a 50.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Glenda G. Mcneal sold 3,019 shares of the 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 completion of the sale, the insider now owns 10,919 shares of the company's stock, valued at approximately $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. 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.