American Express Company $AXP Shares Sold by OFI Invest Asset Management

OFI Invest Asset Management reduced its stake in American Express Company (NYSE:AXP) by 2.2% in the third quarter, HoldingsChannel.com reports. The fund owned 172,434 shares of the payment services company’s stock after selling 3,814 shares during the quarter. OFI Invest Asset Management’s holdings in American Express were worth $57,276,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Access Investment Management LLC acquired a new position in American Express during the 2nd quarter valued at approximately $26,000. Briaud Financial Planning Inc bought a new stake in American Express in the second quarter valued at $26,000. Chung Wu Investment Group LLC acquired a new position in shares of American Express during the second quarter valued at $37,000. 1 North Wealth Services LLC acquired a new position in shares of American Express during the first quarter valued at $37,000. Finally, Howard Hughes Medical Institute bought a new position in shares of American Express during the second quarter worth about $38,000. 84.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AXP has been the topic of several recent research reports. Wall Street Zen downgraded shares of American Express from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Evercore ISI lifted their price target on American Express from $330.00 to $365.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. HSBC set a $295.00 price objective on American Express and gave the stock a “hold” rating in a research report on Friday, October 10th. DZ Bank upgraded American Express from a “sell” rating to a “hold” rating and set a $340.00 target price on the stock in a research report on Tuesday, October 21st. Finally, JPMorgan Chase & Co. boosted their price target on American Express from $343.00 to $355.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Eight research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $335.55.

American Express Price Performance

Shares of NYSE:AXP opened at $380.85 on Tuesday. American Express Company has a 12 month low of $220.43 and a 12 month high of $387.49. The stock has a market cap of $262.35 billion, a price-to-earnings ratio of 25.56, a PEG ratio of 1.80 and a beta of 1.14. The stock’s 50 day moving average price is $361.29 and its 200 day moving average price is $332.09. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.61 and a quick ratio of 1.59.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, January 30th. The payment services company reported ($11.85) earnings per share (EPS) for the quarter. American Express had a net margin of 14.97% and a return on equity of 33.41%. The firm had revenue of ($17,139.00) million for the quarter. Equities research analysts anticipate that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 10th. Investors of record on Friday, January 2nd will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, January 2nd. American Express’s payout ratio is presently 22.01%.

Insiders Place Their Bets

In related news, insider Denise Pickett sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 22nd. The shares were sold at an average price of $350.73, for a total value of $1,753,650.00. Following the sale, the insider directly owned 7,726 shares in the company, valued at $2,709,739.98. The trade was a 39.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Douglas Tabish sold 2,515 shares of the stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $355.61, for a total transaction of $894,359.15. Following the sale, the insider directly owned 2,515 shares of the company’s stock, valued at approximately $894,359.15. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 57,515 shares of company stock worth $20,658,509. 0.20% of the stock is owned by corporate insiders.

American Express Company Profile

American Express is a global financial services company primarily known for its payment card products, travel services and merchant network. Founded in 1850 as an express mail business, the company evolved through the 20th century into a payments and travel-focused organization. Its core activities include issuing consumer and commercial charge and credit cards, operating a global card acceptance and processing network, and providing travel-related services and customer loyalty programs.

American Express issues a range of products for individuals, small businesses and large corporations, including personal cards, business and corporate cards, and co?brand partnerships with airlines, hotels and retailers.