First Financial Bank Trust Division Decreases Stock Position in American Express (NYSE:AXP)

by · The Cerbat Gem

First Financial Bank Trust Division lowered its holdings in American Express (NYSE:AXP) by 17.7% in the 3rd quarter, Holdings Channel reports. The firm owned 1,433 shares of the payment services company’s stock after selling 309 shares during the period. First Financial Bank Trust Division’s holdings in American Express were worth $214,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Bison Wealth LLC increased its position in shares of American Express by 2.1% during the 2nd quarter. Bison Wealth LLC now owns 20,444 shares of the payment services company’s stock valued at $3,561,000 after purchasing an additional 416 shares during the last quarter. Vontobel Holding Ltd. raised its holdings in American Express by 127.9% during the second quarter. Vontobel Holding Ltd. now owns 135,098 shares of the payment services company’s stock valued at $23,534,000 after acquiring an additional 75,821 shares during the period. National Bank of Canada FI boosted its stake in shares of American Express by 25.0% in the third quarter. National Bank of Canada FI now owns 499,340 shares of the payment services company’s stock worth $74,584,000 after acquiring an additional 99,813 shares during the period. Creative Planning grew its position in shares of American Express by 5.7% during the second quarter. Creative Planning now owns 123,390 shares of the payment services company’s stock worth $21,494,000 after purchasing an additional 6,635 shares in the last quarter. Finally, Symmetry Partners LLC raised its stake in American Express by 5.5% during the 2nd quarter. Symmetry Partners LLC now owns 7,193 shares of the payment services company’s stock valued at $1,253,000 after purchasing an additional 376 shares during the period. 83.08% of the stock is owned by institutional investors.

Insider Transactions at American Express

In related news, Vice Chairman Jeffrey C. Campbell sold 21,008 shares of the business’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $168.33, for a total transaction of $3,536,276.64. Following the completion of the transaction, the insider now directly owns 125,646 shares in the company, valued at $21,149,991.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Vice Chairman Jeffrey C. Campbell sold 21,008 shares of the business’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $168.33, for a total value of $3,536,276.64. Following the completion of the sale, the insider now owns 125,646 shares of the company’s stock, valued at approximately $21,149,991.18. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 11,344 shares of the stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $158.87, for a total transaction of $1,802,221.28. Following the transaction, the insider now directly owns 88,376 shares in the company, valued at $14,040,295.12. The disclosure for this sale can be found here. Company insiders own 0.12% of the company’s stock.

American Express Stock Up 1.3 %

Shares of NYSE:AXP traded up $2.38 during trading on Tuesday, reaching $185.14. The stock had a trading volume of 656,957 shares, compared to its average volume of 3,168,203. The company has a market capitalization of $134.93 billion, a P/E ratio of 17.15, a PEG ratio of 1.12 and a beta of 1.23. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.70. American Express has a one year low of $140.91 and a one year high of $185.30. The firm’s 50-day simple moving average is $158.68 and its 200 day simple moving average is $162.31.

American Express (NYSE:AXP – Get Free Report) last issued its quarterly earnings results on Friday, October 20th. The payment services company reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $2.96 by $0.34. The company had revenue of $15.38 billion during the quarter, compared to analysts’ expectations of $15.36 billion. American Express had a return on equity of 30.60% and a net margin of 13.61%. The firm’s revenue was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.47 EPS. As a group, research analysts expect that American Express will post 11.21 EPS for the current fiscal year.

American Express Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 5th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend is Thursday, January 4th. American Express’s dividend payout ratio (DPR) is currently 22.51%.

Analyst Upgrades and Downgrades

AXP has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their price objective on shares of American Express from $192.00 to $167.00 and set a “neutral” rating for the company in a report on Tuesday, October 17th. Bank of America cut their price objective on American Express from $203.00 to $202.00 in a research report on Thursday, October 5th. Citigroup upgraded American Express from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $143.00 to $154.00 in a research report on Wednesday, October 25th. Piper Sandler Companies upgraded American Express to a “neutral” rating and set a $151.00 target price for the company in a report on Tuesday, October 24th. Finally, BMO Capital Markets decreased their price target on American Express from $194.00 to $188.00 and set a “market perform” rating on the stock in a report on Monday, October 23rd. Three analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, American Express has an average rating of “Hold” and a consensus price target of $171.78.

Read Our Latest Stock Report on AXP

American Express Company Profile

(Free Report)

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.

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