Oliver Luxxe Assets LLC Reduces Holdings in American Express (NYSE:AXP)

Oliver Luxxe Assets LLC trimmed its holdings in shares of American Express (NYSE:AXP) by 1.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,171 shares of the payment services company’s stock after selling 309 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in American Express were worth $4,365,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in AXP. Bank of Nova Scotia lifted its position in shares of American Express by 11.3% during the third quarter. Bank of Nova Scotia now owns 56,337 shares of the payment services company’s stock worth $8,405,000 after purchasing an additional 5,735 shares during the last quarter. Ancora Advisors LLC raised its holdings in shares of American Express by 20.7% in the third quarter. Ancora Advisors LLC now owns 1,519 shares of the payment services company’s stock valued at $227,000 after acquiring an additional 261 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of American Express by 17.2% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 146,524 shares of the payment services company’s stock valued at $21,860,000 after acquiring an additional 21,524 shares in the last quarter. First Business Financial Services Inc. raised its holdings in shares of American Express by 5.0% in the third quarter. First Business Financial Services Inc. now owns 1,711 shares of the payment services company’s stock valued at $255,000 after acquiring an additional 81 shares in the last quarter. Finally, SRS Capital Advisors Inc. raised its holdings in shares of American Express by 35.5% in the third quarter. SRS Capital Advisors Inc. now owns 1,726 shares of the payment services company’s stock valued at $257,000 after acquiring an additional 452 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors.

American Express Stock Performance

American Express stock traded up $2.33 during mid-day trading on Monday, hitting $233.88. The company had a trading volume of 1,369,355 shares, compared to its average volume of 3,043,781. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.70. American Express has a 12-month low of $140.91 and a 12-month high of $244.41. The company’s fifty day moving average is $234.69 and its 200-day moving average is $216.40. The company has a market capitalization of $168.23 billion, a price-to-earnings ratio of 19.09, a P/E/G ratio of 1.32 and a beta of 1.21.

American Express (NYSE:AXP) last announced its earnings results on Friday, April 19th. The payment services company reported $3.33 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.36. The business had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $15.79 billion. American Express had a return on equity of 32.46% and a net margin of 14.50%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.40 EPS. Equities research analysts predict that American Express will post 13 EPS for the current year.

American Express Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.20%. This is an increase from American Express’s previous quarterly dividend of $0.10. The ex-dividend date is Friday, July 5th. American Express’s dividend payout ratio is presently 23.06%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Monness Crespi & Hardt upgraded American Express from a “neutral” rating to a “buy” rating and set a $245.00 price objective for the company in a report on Friday, April 5th. Royal Bank of Canada lifted their price objective on American Express from $253.00 to $263.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Morgan Stanley boosted their target price on shares of American Express from $222.00 to $226.00 and gave the stock an “equal weight” rating in a report on Monday, April 22nd. StockNews.com upgraded shares of American Express from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. Finally, HSBC boosted their target price on shares of American Express from $232.00 to $239.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $220.30.

Insider Transactions at American Express

In related news, insider Anna Marrs sold 3,592 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $230.93, for a total value of $829,500.56. Following the completion of the transaction, the insider now directly owns 19,932 shares of the company’s stock, valued at approximately $4,602,896.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Anna Marrs sold 3,592 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $230.93, for a total value of $829,500.56. Following the completion of the transaction, the insider now directly owns 19,932 shares of the company’s stock, valued at approximately $4,602,896.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Quinn Jessica Lieberman sold 3,141 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $232.36, for a total value of $729,842.76. Following the completion of the transaction, the executive vice president now directly owns 258 shares of the company’s stock, valued at $59,948.88. The disclosure for this sale can be found here. Insiders sold a total of 177,717 shares of company stock valued at $41,680,999 in the last three months. 0.11% of the stock is currently owned by company insiders.

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.