American Express (NYSE:AXP) Shares Sold by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division lowered its stake in American Express (NYSE:AXP - Free Report) by 20.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,111 shares of the payment services company's stock after selling 3,714 shares during the quarter. Central Pacific Bank Trust Division's holdings in American Express were worth $3,797,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Norges Bank acquired a new position in American Express in the fourth quarter valued at about $1,785,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of American Express by 463.3% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,357,487 shares of the payment services company's stock worth $1,293,259,000 after purchasing an additional 3,583,959 shares during the last quarter. Capital Research Global Investors boosted its holdings in American Express by 186.3% in the fourth quarter. Capital Research Global Investors now owns 2,986,710 shares of the payment services company's stock valued at $886,426,000 after acquiring an additional 1,943,463 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its holdings in American Express by 346.2% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,021,873 shares of the payment services company's stock valued at $600,072,000 after acquiring an additional 1,568,747 shares during the last quarter. Finally, Proficio Capital Partners LLC boosted its holdings in shares of American Express by 36,719.1% during the 4th quarter. Proficio Capital Partners LLC now owns 1,011,790 shares of the payment services company's stock worth $300,289,000 after buying an additional 1,009,042 shares in the last quarter. Institutional investors own 84.33% of the company's stock.

American Express Stock Up 0.4%

Shares of AXP stock traded up $1.14 during mid-day trading on Tuesday, hitting $296.47. The stock had a trading volume of 659,597 shares, compared to its average volume of 2,834,290. American Express has a 12-month low of $220.43 and a 12-month high of $326.28. The firm has a market capitalization of $207.70 billion, a P/E ratio of 21.16, a price-to-earnings-growth ratio of 1.41 and a beta of 1.23. The firm's 50-day moving average is $271.29 and its two-hundred day moving average is $288.79. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57.

American Express (NYSE:AXP - Get Free Report) last issued its earnings results on Thursday, April 17th. The payment services company reported $3.64 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.17. The business had revenue of $16.97 billion during the quarter, compared to analysts' expectations of $17.04 billion. American Express had a return on equity of 32.65% and a net margin of 15.36%. During the same period in the prior year, the business earned $3.33 EPS. On average, analysts predict that American Express will post 15.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

AXP has been the topic of a number of recent research reports. Redburn Atlantic upgraded American Express from a "sell" rating to a "neutral" rating and cut their target price for the stock from $270.00 to $255.00 in a report on Wednesday, April 23rd. Truist Financial lifted their target price on American Express from $315.00 to $335.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Baird R W raised American Express from a "strong sell" rating to a "hold" rating in a report on Friday, March 14th. BTIG Research cut their target price on American Express from $272.00 to $240.00 and set a "sell" rating for the company in a research note on Monday, April 21st. Finally, Citigroup decreased their target price on American Express from $320.00 to $300.00 and set a "neutral" rating for the company in a report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $296.05.

Insider Transactions at American Express

In other American Express news, Director Michael J. Angelakis bought 3,700 shares of American Express stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average cost of $269.89 per share, with a total value of $998,593.00. Following the transaction, the director now directly owns 3,700 shares of the company's stock, valued at approximately $998,593. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Howard Grosfield sold 9,450 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $275.50, for a total value of $2,603,475.00. Following the completion of the transaction, the insider now directly owns 9,402 shares in the company, valued at $2,590,251. This represents a 50.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company's stock.

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.