Oppenheimer & Co. Inc. Sells 3,734 Shares of American Express (NYSE:AXP)

Oppenheimer & Co. Inc. decreased its stake in shares of American Express (NYSE:AXP - Free Report) by 7.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 45,050 shares of the payment services company's stock after selling 3,734 shares during the period. Oppenheimer & Co. Inc.'s holdings in American Express were worth $12,218,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Kennebec Savings Bank bought a new position in shares of American Express during the 3rd quarter worth approximately $29,000. DHJJ Financial Advisors Ltd. lifted its holdings in American Express by 42.2% during the second quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company's stock worth $38,000 after acquiring an additional 49 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of American Express in the third quarter valued at about $46,000. Capital Performance Advisors LLP acquired a new stake in shares of American Express in the third quarter valued at about $48,000. Finally, POM Investment Strategies LLC acquired a new position in American Express during the second quarter worth approximately $42,000. Institutional investors own 84.33% of the company's stock.

Insider Buying and Selling

In other American Express news, insider Anre D. Williams sold 77,887 shares of the company's stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $270.26, for a total transaction of $21,049,740.62. Following the completion of the sale, the insider now directly owns 111,656 shares in the company, valued at $30,176,150.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Anre D. Williams sold 77,887 shares of the company's stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $270.26, for a total transaction of $21,049,740.62. Following the completion of the transaction, the insider now directly owns 111,656 shares of the company's stock, valued at approximately $30,176,150.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the company's stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following the transaction, the insider now directly owns 109,691 shares of the company's stock, valued at approximately $29,724,067.18. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.12% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on AXP shares. BTIG Research downgraded American Express from a "neutral" rating to a "sell" rating and set a $230.00 target price on the stock. in a research report on Tuesday, October 8th. Wells Fargo & Company upped their target price on American Express from $285.00 to $300.00 and gave the stock an "overweight" rating in a research note on Monday, September 30th. Hsbc Global Res downgraded shares of American Express from a "strong-buy" rating to a "hold" rating in a report on Tuesday, October 8th. Bank of America increased their price objective on American Express from $263.00 to $265.00 and gave the company a "neutral" rating in a report on Tuesday, September 17th. Finally, TD Cowen increased their price target on American Express from $260.00 to $268.00 and gave the stock a "hold" rating in a report on Monday, October 21st. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $253.09.

American Express Price Performance

Shares of American Express stock traded down $0.87 during trading on Wednesday, hitting $287.64. The stock had a trading volume of 2,117,575 shares, compared to its average volume of 2,907,961. The firm has a market cap of $202.63 billion, a price-to-earnings ratio of 21.22, a P/E/G ratio of 1.65 and a beta of 1.21. American Express has a 12 month low of $156.03 and a 12 month high of $296.83. The business's 50-day moving average is $270.01 and its 200 day moving average is $250.23. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.80.

American Express (NYSE:AXP - Get Free Report) last announced its earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.22. American Express had a net margin of 15.32% and a return on equity of 32.46%. The company had revenue of $16.64 billion during the quarter, compared to analyst estimates of $16.68 billion. During the same period in the previous year, the business earned $3.30 earnings per share. The firm's quarterly revenue was up 8.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that American Express will post 13.4 earnings per share for the current year.

American Express Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, October 4th were given a $0.70 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.80 annualized dividend and a yield of 0.97%. American Express's dividend payout ratio (DPR) is presently 20.60%.

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.