Sanibel Captiva Trust Company Inc. Boosts Holdings in American Express (NYSE:AXP)

Sanibel Captiva Trust Company Inc. raised its stake in shares of American Express (NYSE:AXP) by 3.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of AXP. Investment Management Corp VA ADV purchased a new stake in American Express in the 4th quarter worth $29,000. Sellwood Investment Partners LLC purchased a new stake in shares of American Express in the fourth quarter worth about $33,000. Murphy & Mullick Capital Management Corp bought a new position in American Express during the fourth quarter valued at approximately $33,000. Nexus Investment Management ULC purchased a new position in American Express during the 1st quarter valued at approximately $34,000. Finally, Curio Wealth LLC purchased a new stake in shares of American Express during the 4th quarter worth approximately $37,000. Institutional investors own 84.33% of the company’s stock.

Insider Buying and Selling at American Express

In other American Express news, insider Howard Grosfield sold 9,450 shares of American Express stock in a transaction on 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 transaction, the insider now directly owns 9,402 shares of the company’s stock, valued at approximately $2,590,251. The trade was a 50.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Glenda G. Mcneal sold 3,019 shares of the firm’s stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $264.66, for a total value of $799,008.54. Following the completion of the sale, the insider now directly owns 10,919 shares of the company’s stock, valued at $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 Down 0.3%

NYSE:AXP opened at $301.61 on Tuesday. 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 has a 1-year low of $220.43 and a 1-year high of $326.28. The company has a 50-day moving average of $274.12 and a 200 day moving average of $289.07. The firm has a market cap of $211.30 billion, a PE ratio of 21.53, a price-to-earnings-growth ratio of 1.41 and a beta of 1.25.

American Express (NYSE:AXP) last posted its quarterly earnings results on Thursday, April 17th. The payment services company reported $3.64 EPS for the quarter, beating the consensus estimate 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 15.36% and a return on equity of 32.65%. During the same quarter in the previous year, the business posted $3.33 EPS. As a group, research analysts anticipate that American Express will post 15.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on AXP shares. Bank of America upgraded shares of American Express from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $325.00 to $274.00 in a research report on Friday, April 11th. Robert W. Baird upgraded shares of American Express from an “underperform” rating to a “neutral” rating and set a $265.00 target price on the stock in a research report on Friday, March 14th. Truist Financial boosted their price objective on American Express from $315.00 to $335.00 and gave the stock a “buy” rating in a research note on Friday, May 23rd. BTIG Research lowered their price objective 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, The Goldman Sachs Group dropped their target price on 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 issued a buy rating to the company. Based on data from MarketBeat.com, American Express presently has a consensus rating of “Hold” and a consensus target price of $296.05.

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.