Sanibel Captiva Trust Company Inc. Grows Position in American Express (NYSE:AXP)

Sanibel Captiva Trust Company Inc. boosted its stake in American Express (NYSE:AXP - Free Report) by 3.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 49,482 shares of the payment services company's stock after buying an additional 1,533 shares during the quarter. Sanibel Captiva Trust Company Inc.'s holdings in American Express were worth $13,313,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Avanza Fonder AB raised its position in shares of American Express by 3.3% in the first quarter. Avanza Fonder AB now owns 42,055 shares of the payment services company's stock valued at $11,576,000 after purchasing an additional 1,344 shares during the period. Ibex Wealth Advisors raised its position in American Express by 33.0% during the first quarter. Ibex Wealth Advisors now owns 16,837 shares of the payment services company's stock valued at $4,530,000 after purchasing an additional 4,173 shares in the last quarter. Sonora Investment Management Group LLC boosted its stake in American Express by 71.0% in the first quarter. Sonora Investment Management Group LLC now owns 1,476 shares of the payment services company's stock worth $397,000 after buying an additional 613 shares in the last quarter. Accurate Wealth Management LLC raised its position in American Express by 24.1% in the 1st quarter. Accurate Wealth Management LLC now owns 3,136 shares of the payment services company's stock worth $787,000 after purchasing an additional 609 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of American Express by 3.1% in the first quarter. GAMMA Investing LLC now owns 8,039 shares of the payment services company's stock worth $2,163,000 after buying an additional 238 shares during the period. 84.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Redburn Atlantic raised American Express from a "sell" rating to a "neutral" rating and decreased their target price for the stock from $270.00 to $255.00 in a research report on Wednesday, April 23rd. Argus downgraded shares of American Express from a "strong-buy" rating to a "hold" rating in a report on Friday, March 14th. Truist Financial lifted their price objective on American Express from $315.00 to $335.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Bank of America raised shares of American Express from a "neutral" rating to a "buy" rating and cut their price objective for the company from $325.00 to $274.00 in a research report on Friday, April 11th. Finally, The Goldman Sachs Group reduced their target price on shares of American Express from $367.00 to $330.00 and set a "buy" rating for the company in a report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $296.05.

American Express Stock Down 0.1%

AXP traded down $0.28 during trading on Wednesday, hitting $299.25. The company had a trading volume of 2,013,499 shares, compared to its average volume of 2,822,169. The company has a market capitalization of $209.65 billion, a PE ratio of 21.36, a PEG ratio of 1.41 and a beta of 1.25. American Express has a one year low of $220.43 and a one year high of $326.28. The firm's 50-day moving average price is $275.16 and its 200 day moving average price is $289.15. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64.

American Express (NYSE:AXP - Get Free Report) last announced its earnings results on Thursday, April 17th. The payment services company reported $3.64 EPS for the quarter, topping the consensus estimate of $3.47 by $0.17. American Express had a net margin of 15.36% and a return on equity of 32.65%. The business had revenue of $16.97 billion during the quarter, compared to the consensus estimate of $17.04 billion. During the same quarter in the previous year, the firm posted $3.33 EPS. As a group, equities analysts expect that American Express will post 15.33 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Glenda G. Mcneal sold 3,019 shares of the firm's stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $264.66, for a total value of $799,008.54. Following the sale, the insider now directly owns 10,919 shares of the company's stock, valued at $2,889,822.54. This trade represents a 21.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Howard Grosfield sold 9,450 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was 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 owns 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 disclosure for this sale can be found here. 0.20% of the stock is owned by corporate insiders.

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.