Central Pacific Bank Trust Division Has $4 Million Stock Holdings in American Express Company $AXP

Key Points

• Central Pacific Bank Trust Division reduced its holdings in American Express by 11.2%, selling 1,582 shares and now owning 12,529 shares, valued at approximately $4 million.
• Insider transactions showed significant sales, with CEO Stephen J. Squeri selling 112,272 shares and another insider, Laureen Seeger, selling 61,721 shares, reflecting substantial decreases in their respective positions.
• American Express reported $4.08 earnings per share for the last quarter, exceeding estimates, alongside a revenue increase of 9.3% year-over-year at $17.86 billion.

Central Pacific Bank Trust Division reduced its stake in American Express Company (NYSE:AXP - Free Report) by 11.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,529 shares of the payment services company's stock after selling 1,582 shares during the quarter. Central Pacific Bank Trust Division's holdings in American Express were worth $3,996,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in AXP. Vanguard Group Inc. increased its stake in American Express by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 45,843,893 shares of the payment services company's stock valued at $12,334,299,000 after buying an additional 605,900 shares during the last quarter. Wellington Management Group LLP increased its stake in American Express by 13.7% in the 1st quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company's stock valued at $4,849,777,000 after buying an additional 2,168,445 shares during the last quarter. Nuveen LLC acquired a new stake in American Express in the 1st quarter valued at $1,454,667,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in American Express by 1.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,093,807 shares of the payment services company's stock valued at $1,370,489,000 after buying an additional 78,538 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in American Express by 8.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,015,269 shares of the payment services company's stock valued at $1,488,482,000 after buying an additional 408,283 shares during the last quarter. 84.33% of the stock is owned by institutional investors.

Insider Transactions at American Express

In other news, CEO Stephen J. Squeri sold 112,272 shares of the stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $329.86, for a total transaction of $37,034,041.92. Following the completion of the sale, the chief executive officer directly owned 92,810 shares in the company, valued at $30,614,306.60. This represents a 54.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Laureen Seeger sold 61,721 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $297.47, for a total transaction of $18,360,145.87. Following the sale, the insider owned 9,001 shares of the company's stock, valued at approximately $2,677,527.47. This trade represents a 87.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 269,996 shares of company stock worth $85,261,270. 0.20% of the stock is currently owned by insiders.

American Express Price Performance

AXP stock traded up $4.73 during trading on Thursday, reaching $340.73. 1,686,801 shares of the company were exchanged, compared to its average volume of 2,868,026. The company has a 50-day moving average of $313.93 and a two-hundred day moving average of $292.62. The company has a market capitalization of $237.10 billion, a price-to-earnings ratio of 23.90, a P/E/G ratio of 1.73 and a beta of 1.28. American Express Company has a twelve month low of $220.43 and a twelve month high of $341.67. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.61 and a quick ratio of 1.60.

American Express (NYSE:AXP - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The payment services company reported $4.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.86 by $0.22. American Express had a net margin of 14.78% and a return on equity of 32.87%. The business had revenue of $17.86 billion during the quarter, compared to analysts' expectations of $17.70 billion. During the same period in the prior year, the company earned $3.49 EPS. The firm's quarterly revenue was up 9.3% compared to the same quarter last year. As a group, equities analysts predict that American Express Company will post 15.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AXP has been the topic of several recent analyst reports. Royal Bank Of Canada restated an "outperform" rating on shares of American Express in a research note on Monday, July 14th. Truist Financial boosted their price objective on shares of American Express from $348.00 to $375.00 and gave the stock a "buy" rating in a research note on Monday. Morgan Stanley boosted their price objective on shares of American Express from $250.00 to $311.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Keefe, Bruyette & Woods boosted their price objective on shares of American Express from $360.00 to $371.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Finally, Wells Fargo & Company lifted their target price on shares of American Express from $350.00 to $375.00 and gave the stock an "overweight" rating in a report on Friday, September 5th. Eight investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $315.20.

American Express 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.