Oxbow Advisors LLC Reduces Stake in American Express (NYSE:AXP)

Oxbow Advisors LLC has cut its investment in American Express (NYSE: AXP) by 54.0% during the third quarter, according to its latest 13F filing with the SEC. Following this reduction, the firm now holds 1,692 shares of American Express, after selling 1,986 shares in that period. The value of Oxbow Advisors LLC's holdings in American Express was approximately $459,000 at the end of the reporting period.

Institutional Investment Trends

Several other institutional investors and hedge funds have also adjusted their positions in American Express recently. Notably, DHJJ Financial Advisors Ltd. increased its stake in the company by 42.2% during the second quarter, now owning 165 shares worth $38,000 after acquiring 49 additional shares. Additionally, POM Investment Strategies LLC entered a new position in American Express valued at around $42,000 during the same quarter. Founders Capital Management also made a fresh investment in American Express worth $46,000. In the third quarter, Mowery & Schoenfeld Wealth Management LLC invested approximately $46,000, while Capital Performance Advisors LLP added a new position worth about $48,000. Overall, institutional investors own 84.33% of American Express's stock.

Insider Transactions

In related news, Anre D. Williams, an insider at American Express, sold 77,887 shares of the company's stock on October 22, at an average price of $270.26, totaling $21,049,740.62. After this transaction, Williams owns 111,656 shares, valued at roughly $30,176,150.56, reflecting no change in their ownership percentage. This sale was reported to the SEC. On October 29, Vice Chairman Douglas E. Buckminster sold 13,111 shares at an average price of $270.98, amounting to $3,552,818.78. Buckminster's remaining shares total 109,691, valued at approximately $29,724,067.18. Corporate insiders hold 0.11% of Walmart's shares.

American Express Stock Performance

On the last trading day, American Express shares rose by $0.78, bringing the price to $287.60, with a trading volume of 1,814,377 shares compared to the average volume of 2,917,427. Key financial indicators for American Express include a current ratio of 1.63, a quick ratio of 1.63, and a debt-to-equity ratio of 1.80. The company's market capitalization is about $202.60 billion, with a price-to-earnings (P/E) ratio of 21.16 and a P/E/G ratio of 1.47. American Express shares have fluctuated within a 52-week range from a low of $152.05 to a high of $296.83. The stock's fifty-day moving average price stands at $268.64, and the two-hundred day moving average is $249.32.

Quarterly Earnings Release

American Express recently reported its quarterly earnings on October 18. The company announced earnings of $3.49 per share, surpassing analysts' expectations of $3.27 by $0.22. The firm's revenue for the quarter was $16.64 billion, slightly below the anticipated $16.68 billion. American Express achieved a return on equity of 32.46% and a 15.32% net margin, with an 8.2% increase in revenue year-over-year. Analysts forecast the company will deliver an earnings per share (EPS) figure of 13.4 for the current fiscal year.

Dividend Announcements

Additionally, American Express has announced a quarterly dividend that was paid on November 8. Stockholders of record as of October 4 received a dividend of $0.70 per share, which equates to an annualized dividend of $2.80, yielding 0.97%. The dividend payout ratio currently stands at 20.60%.

Analyst Ratings and Price Targets

American Express (AXP) has been featured in various research reports. Compass Point initiated coverage with a "neutral" rating and a target price of $260. BTIG Research downgraded its rating to "sell" with a price target of $230. Conversely, Goldman Sachs raised the target from $270 to $300, maintaining a "buy" rating. HSBC Global Research downgraded its rating, while JPMorgan Chase upgraded it from "overweight" to "neutral," increasing its price target from $268 to $286. Currently, nine analysts recommend a "buy," thirteen suggest holding, and four consider it a "sell," with a consensus rating of "Hold" and an average target price of $253.09.

Understanding American Express

American Express is a leading integrated payments company with operations across various global regions, including the U.S., Europe, Asia-Pacific, and Latin America. The company operates through four main segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.

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