Oppenheimer Asset Management Inc. Lowers Holdings in American Express (NYSE:AXP)

Oppenheimer Asset Management Inc. reduced its stake in shares of American Express (NYSE:AXP) by 3.9% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 21,261 shares of the payment services company’s stock after selling 858 shares during the period. Oppenheimer Asset Management Inc.’s holdings in American Express were worth $4,923,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Thoroughbred Financial Services LLC grew its holdings in American Express by 102.4% during the second quarter. Thoroughbred Financial Services LLC now owns 7,614 shares of the payment services company’s stock worth $1,763,000 after acquiring an additional 3,853 shares during the period. Parallel Advisors LLC boosted its position in American Express by 1.4% in the 2nd quarter. Parallel Advisors LLC now owns 11,031 shares of the payment services company’s stock worth $2,554,000 after purchasing an additional 147 shares in the last quarter. Zions Bancorporation N.A. grew its stake in shares of American Express by 330.6% during the 2nd quarter. Zions Bancorporation N.A. now owns 7,295 shares of the payment services company’s stock worth $1,689,000 after purchasing an additional 5,601 shares during the period. Federated Hermes Inc. increased its holdings in shares of American Express by 357.1% during the 2nd quarter. Federated Hermes Inc. now owns 218,010 shares of the payment services company’s stock valued at $50,480,000 after purchasing an additional 170,316 shares in the last quarter. Finally, Meeder Advisory Services Inc. lifted its stake in shares of American Express by 39.1% in the 2nd quarter. Meeder Advisory Services Inc. now owns 13,099 shares of the payment services company’s stock valued at $3,033,000 after purchasing an additional 3,682 shares during the period. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Wells Fargo & Company raised their price target on shares of American Express from $275.00 to $285.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Citigroup started coverage on American Express in a research report on Monday, June 10th. They set a “neutral” rating and a $250.00 target price on the stock. Bank of America cut American Express from a “buy” rating to a “neutral” rating and set a $263.00 price target for the company. in a report on Wednesday, August 21st. JPMorgan Chase & Co. raised their price objective on American Express from $240.00 to $268.00 and gave the company an “overweight” rating in a report on Monday, July 8th. Finally, Jefferies Financial Group boosted their price objective on American Express from $225.00 to $235.00 and gave the company a “hold” rating in a research report on Tuesday, July 9th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $230.70.

American Express Price Performance

AXP stock opened at $259.00 on Monday. American Express has a 1 year low of $140.91 and a 1 year high of $261.75. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.66. The firm has a market capitalization of $186.30 billion, a PE ratio of 21.33, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. The business has a 50 day simple moving average of $246.33 and a 200-day simple moving average of $235.60.

American Express (NYSE:AXP) last released its quarterly earnings data on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.26 by $0.23. American Express had a return on equity of 32.94% and a net margin of 15.53%. The company had revenue of $16.33 billion for the quarter, compared to analyst estimates of $16.60 billion. During the same quarter in the previous year, the company posted $2.89 earnings per share. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. Equities research analysts anticipate that American Express will post 13.12 earnings per share for the current fiscal year.

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.