OMERS ADMINISTRATION Corp Sells 3,063 Shares of American Express Company $AXP

Key Points

• OMERS ADMINISTRATION Corp reduced its stake in American Express by 12.0%, selling 3,063 shares and now holding 22,400 shares valued at approximately $6 million.
• Insider Anna Marrs sold 5,500 shares for over $1.7 million, representing a 21.31% decrease in their ownership.
• American Express reported earnings of $4.08 per share, exceeding analyst expectations, and declared a quarterly dividend of $0.82 per share.

OMERS ADMINISTRATION Corp reduced its stake in shares of American Express Company (NYSE:AXP - Free Report) by 12.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 22,400 shares of the payment services company's stock after selling 3,063 shares during the period. OMERS ADMINISTRATION Corp's holdings in American Express were worth $6,027,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Investment Management Corp VA ADV acquired a new stake in American Express during the 4th quarter worth approximately $29,000. MorganRosel Wealth Management LLC acquired a new stake in American Express during the 1st quarter worth approximately $29,000. Nexus Investment Management ULC acquired a new stake in American Express during the 1st quarter worth approximately $34,000. Hughes Financial Services LLC acquired a new stake in American Express during the 1st quarter worth approximately $35,000. Finally, IAG Wealth Partners LLC acquired a new stake in American Express during the 1st quarter worth approximately $40,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other American Express news, insider Laureen Seeger sold 61,721 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $297.47, for a total transaction of $18,360,145.87. Following the completion of the transaction, the insider owned 9,001 shares of the company's stock, valued at approximately $2,677,527.47. The trade was a 87.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Glenda G. Mcneal sold 50,000 shares of the business's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total value of $15,475,000.00. Following the sale, 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. Over the last 90 days, insiders sold 134,219 shares of company stock valued at $40,555,901. 0.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

AXP has been the topic of several research analyst reports. William Blair restated an "outperform" rating on shares of American Express in a report on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of American Express from $371.00 to $375.00 and gave the company a "buy" rating in a report on Monday, July 21st. Citigroup reiterated a "neutral" rating and issued a $327.00 price objective (up from $300.00) on shares of American Express in a report on Wednesday, July 2nd. Royal Bank Of Canada reiterated an "outperform" rating on shares of American Express in a report on Monday, July 14th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of American Express from $360.00 to $371.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Eight 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 data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $311.05.

American Express Stock Performance

Shares of AXP traded up $4.63 during midday trading on Friday, reaching $331.62. 2,980,947 shares of the stock were exchanged, compared to its average volume of 2,303,076. American Express Company has a twelve month low of $220.43 and a twelve month high of $332.06. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 1.80. The company has a market cap of $230.77 billion, a P/E ratio of 23.27, a PEG ratio of 1.75 and a beta of 1.28. The stock's 50 day simple moving average is $311.28 and its 200 day simple moving average is $290.15.

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

American Express Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd were paid a dividend of $0.82 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $3.28 annualized dividend and a yield of 1.0%. American Express's 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.