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

Central Pacific Bank Trust Division lessened its stake in shares of American Express (NYSE:AXP) by 13.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,425 shares of the payment services company’s stock after selling 2,950 shares during the quarter. American Express comprises about 0.7% of Central Pacific Bank Trust Division’s holdings, making the stock its 21st biggest holding. Central Pacific Bank Trust Division’s holdings in American Express were worth $5,268,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of AXP. Game Plan Financial Advisors LLC lifted its stake in shares of American Express by 62.5% in the first quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock valued at $30,000 after purchasing an additional 50 shares during the period. Scarborough Advisors LLC purchased a new stake in shares of American Express during the fourth quarter worth about $25,000. Vermillion & White Wealth Management Group LLC purchased a new stake in American Express during the fourth quarter valued at about $29,000. DHJJ Financial Advisors Ltd. raised its holdings in shares of American Express by 42.2% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock worth $38,000 after purchasing an additional 49 shares during the period. Finally, Riverview Trust Co purchased a new stake in shares of American Express during the 1st quarter worth about $38,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Performance

AXP opened at $270.90 on Thursday. The business’s 50-day simple moving average is $252.74 and its 200 day simple moving average is $239.76. American Express has a 52-week low of $140.91 and a 52-week high of $272.68. The firm has a market capitalization of $194.86 billion, a PE ratio of 22.31, a PEG ratio of 1.48 and a beta of 1.21. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.26 by $0.23. The business had revenue of $16.33 billion for the quarter, compared to analyst estimates of $16.60 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. American Express’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period last year, the firm earned $2.89 earnings per share. As a group, sell-side analysts expect that American Express will post 13.13 earnings per share for the current fiscal year.

American Express Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.80 annualized dividend and a dividend yield of 1.03%. American Express’s dividend payout ratio is 23.06%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AXP shares. Wells Fargo & Company raised their target price on American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a report on Monday. BTIG Research assumed coverage on shares of American Express in a research note on Friday, June 7th. They set a “neutral” rating on the stock. JPMorgan Chase & Co. upped their price objective on shares of American Express from $240.00 to $268.00 and gave the company an “overweight” rating in a research report on Monday, July 8th. Bank of America lifted their target price on American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. Finally, Citigroup assumed coverage on American Express in a research note on Monday, June 10th. They set a “neutral” rating and a $250.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $231.43.

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.