Chemung Canal Trust Co. Sells 1,486 Shares of American Express Company (NYSE:AXP)

Chemung Canal Trust Co. reduced its stake in shares of American Express Company (NYSE:AXP - Free Report) by 7.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,475 shares of the payment services company's stock after selling 1,486 shares during the period. American Express accounts for 1.2% of Chemung Canal Trust Co.'s investment portfolio, making the stock its 28th biggest holding. Chemung Canal Trust Co.'s holdings in American Express were worth $5,240,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Cornerstone Planning Group LLC grew its holdings in shares of American Express by 0.8% during the 1st quarter. Cornerstone Planning Group LLC now owns 5,236 shares of the payment services company's stock valued at $1,362,000 after acquiring an additional 40 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its stake in shares of American Express by 8.1% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 14,146 shares of the payment services company's stock valued at $3,806,000 after purchasing an additional 1,065 shares during the last quarter. Flossbach Von Storch SE lifted its stake in shares of American Express by 0.4% in the 1st quarter. Flossbach Von Storch SE now owns 99,992 shares of the payment services company's stock valued at $26,903,000 after purchasing an additional 439 shares during the last quarter. Values First Advisors Inc. lifted its stake in shares of American Express by 51.3% in the 1st quarter. Values First Advisors Inc. now owns 1,826 shares of the payment services company's stock valued at $490,000 after purchasing an additional 619 shares during the last quarter. Finally, Stratos Investment Management LLC lifted its stake in shares of American Express by 19.8% in the 1st quarter. Stratos Investment Management LLC now owns 38,797 shares of the payment services company's stock valued at $10,438,000 after purchasing an additional 6,409 shares during the last quarter. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AXP has been the subject of several analyst reports. Bank of America raised shares of American Express from a "neutral" rating to a "buy" rating and reduced their price objective for the company from $325.00 to $274.00 in a research note on Friday, April 11th. Truist Financial lifted their price objective on shares of American Express from $335.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday. Barclays lifted their price objective on shares of American Express from $249.00 to $297.00 and gave the company an "equal weight" rating in a research note on Tuesday. Redburn Atlantic raised shares of 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 research report on Wednesday, April 23rd. Finally, William Blair reissued an "outperform" rating on shares of American Express in a research report on Wednesday, July 2nd. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $301.42.

Insider Transactions at American Express

In related news, insider Howard Grosfield sold 9,450 shares of the company's 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 sale, the insider owned 9,402 shares of the company's stock, valued at $2,590,251. The trade was a 50.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Glenda G. Mcneal sold 3,019 shares of the company's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $264.66, for a total transaction of $799,008.54. Following the completion of the sale, the insider directly owned 10,919 shares in the company, valued at approximately $2,889,822.54. The trade was a 21.66% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.20% of the company's stock.

American Express Stock Performance

Shares of AXP traded up $6.55 during trading hours on Thursday, reaching $323.90. 991,556 shares of the company traded hands, compared to its average volume of 2,837,084. The stock's fifty day moving average is $298.81 and its 200 day moving average is $290.38. The stock has a market cap of $226.92 billion, a P/E ratio of 22.60, a price-to-earnings-growth ratio of 1.54 and a beta of 1.25. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58. American Express Company has a 1-year low of $220.43 and a 1-year high of $329.14.

American Express (NYSE:AXP - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The payment services company reported $3.64 EPS for the quarter, beating analysts' consensus estimates of $3.47 by $0.17. The business had revenue of $16.97 billion during the quarter, compared to analyst estimates of $17.04 billion. American Express had a net margin of 15.31% and a return on equity of 32.48%. During the same quarter in the prior year, the business earned $3.33 earnings per share. Equities research analysts anticipate that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be paid a $0.82 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $3.28 dividend on an annualized basis and a yield of 1.01%. American Express's payout ratio is currently 22.91%.

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.