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

Oliver Luxxe Assets LLC decreased its position in shares of American Express (NYSE:AXP) by 1.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 18,584 shares of the payment services company’s stock after selling 309 shares during the period. Oliver Luxxe Assets LLC’s holdings in American Express were worth $5,040,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Scarborough Advisors LLC acquired a new position in American Express during the fourth quarter worth approximately $25,000. Game Plan Financial Advisors LLC increased its position in American Express by 62.5% during the first quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock worth $30,000 after purchasing an additional 50 shares during the last quarter. Creekmur Asset Management LLC acquired a new position in American Express during the fourth quarter worth approximately $32,000. Transcendent Capital Group LLC acquired a new stake in shares of American Express in the fourth quarter worth $37,000. Finally, Riverview Trust Co acquired a new stake in shares of American Express in the first quarter worth $38,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Performance

Shares of AXP opened at $276.16 on Monday. The company’s 50 day moving average price is $256.44 and its 200 day moving average price is $242.17. American Express has a 52 week low of $140.91 and a 52 week high of $277.11. The company has a market capitalization of $198.64 billion, a PE ratio of 22.75, a PEG ratio of 1.50 and a beta of 1.21. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, July 19th. The payment services company reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.26 by $0.23. American Express had a net margin of 15.53% and a return on equity of 32.94%. The firm had revenue of $16.33 billion for the quarter, compared to the consensus estimate of $16.60 billion. During the same period in the previous year, the firm posted $2.89 earnings per share. The firm’s revenue was up 9.2% on a year-over-year basis. Research analysts expect that American Express will post 13.14 EPS for the current fiscal year.

American Express Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s dividend payout ratio is 23.06%.

Wall Street Analysts Forecast Growth

AXP has been the subject of several recent research reports. Royal Bank of Canada increased their price objective on shares of American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. BTIG Research downgraded shares of American Express from a “neutral” rating to a “sell” rating and set a $230.00 target price for the company. in a research note on Tuesday, October 8th. Hsbc Global Res downgraded shares of American Express from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Compass Point initiated coverage on shares of American Express in a research note on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 target price for the company. Finally, Monness Crespi & Hardt increased their price objective on shares of American Express from $265.00 to $300.00 and gave the company a “buy” rating in a research note on Monday. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, American Express presently has a consensus rating of “Hold” and an average price target of $241.42.

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.