Oppenheimer Asset Management Inc. Decreases Stake in American Express Company $AXP

Oppenheimer Asset Management Inc. lessened its holdings in shares of American Express Company (NYSE:AXP) by 22.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,461 shares of the payment services company’s stock after selling 3,089 shares during the period. Oppenheimer Asset Management Inc.’s holdings in American Express were worth $3,337,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Nuveen LLC acquired a new position in American Express during the first quarter worth about $1,454,667,000. Wellington Management Group LLP lifted its position in shares of American Express by 13.7% during the 1st quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company’s stock valued at $4,849,777,000 after acquiring an additional 2,168,445 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of American Express by 25.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,752,690 shares of the payment services company’s stock worth $1,278,711,000 after acquiring an additional 965,221 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of American Express by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 45,843,893 shares of the payment services company’s stock worth $12,334,299,000 after acquiring an additional 605,900 shares during the period. Finally, Provident Trust Co. purchased a new position in American Express in the 1st quarter valued at approximately $126,119,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Price Performance

NYSE:AXP opened at $361.41 on Wednesday. American Express Company has a 12-month low of $220.43 and a 12-month high of $362.84. The firm has a market cap of $248.95 billion, a price-to-earnings ratio of 24.26, a price-to-earnings-growth ratio of 1.92 and a beta of 1.29. The company’s 50-day moving average is $332.81 and its two-hundred day moving average is $308.18. The company has a current ratio of 1.61, a quick ratio of 1.59 and a debt-to-equity ratio of 1.78.

American Express (NYSE:AXP) last posted its quarterly earnings data on Friday, October 17th. The payment services company reported $4.14 earnings per share for the quarter, beating analysts’ consensus estimates of $3.98 by $0.16. The business had revenue of $18.43 billion during the quarter, compared to analyst estimates of $18.03 billion. American Express had a net margin of 14.97% and a return on equity of 33.41%. The company’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.49 earnings per share. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. Research analysts expect that American Express Company will post 15.33 EPS for the current year.

American Express Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Friday, October 10th will be paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, October 10th. American Express’s dividend payout ratio is currently 22.01%.

Analyst Ratings Changes

A number of research firms have commented on AXP. Morgan Stanley boosted their target price on American Express from $311.00 to $362.00 and gave the stock an “equal weight” rating in a research report on Monday, September 29th. Barclays boosted their price objective on shares of American Express from $336.00 to $355.00 and gave the stock an “equal weight” rating in a research report on Monday, October 20th. Truist Financial raised their target price on shares of American Express from $375.00 to $395.00 and gave the company a “buy” rating in a report on Monday, October 20th. William Blair reaffirmed an “outperform” rating on shares of American Express in a report on Wednesday, July 2nd. Finally, Evercore ISI raised their price objective on shares of American Express from $330.00 to $365.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Nine research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $332.65.

Insider Buying and Selling at American Express

In other American Express news, Vice Chairman Douglas E. Buckminster sold 23,505 shares of American Express stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $326.37, for a total value of $7,671,326.85. Following the completion of the sale, the insider owned 123,613 shares in the company, valued at $40,343,574.81. The trade was a 15.98% decrease in their position. The transaction was disclosed in a filing 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 dated Thursday, October 23rd. The stock was sold at an average price of $355.61, for a total transaction of $894,359.15. Following the transaction, the insider owned 2,515 shares in the company, valued at approximately $894,359.15. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 222,011 shares of company stock valued at $70,725,044. 0.20% of the stock is currently owned by insiders.

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.