Thu Oct 03 13:32:49 UTC 2024: ## Central Pacific Bank Trust Division Cuts Stake in American Express

**New York, NY** – Central Pacific Bank Trust Division reduced its holding in American Express (AXP) by 13.2% in the third quarter, according to a recent 13F filing with the Securities and Exchange Commission. The fund sold 2,950 shares, leaving them with 19,425 shares of the payment services company, representing approximately 0.7% of their portfolio. This makes American Express the 21st largest holding for Central Pacific Bank Trust Division.

The move comes amid mixed signals for AXP stock. While several other investors, including Game Plan Financial Advisors LLC and DHJJ Financial Advisors Ltd., increased their holdings in the company, some institutions, such as Riverview Trust Co, purchased new stakes. Institutional investors and hedge funds collectively own 84.33% of American Express shares.

AXP opened at $270.90 on Thursday, with a market capitalization of $194.86 billion. The company recently declared a quarterly dividend of $0.70, payable on November 8th to shareholders of record on October 4th. This equates to a $2.80 annualized dividend and a yield of 1.03%.

Analysts’ opinions on AXP are divided. While Wells Fargo & Company upgraded their target price to $300.00 and gave the company an “overweight” rating, other firms, including BTIG Research and Citigroup, assigned a “neutral” rating. Overall, the average rating for AXP stands at “Hold” with a consensus target price of $231.43.

American Express continues to operate globally in various segments, including U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services. For further information on AXP holdings, investors can visit HoldingsChannel.com.

**Disclaimer:** This is a news article based on information from the provided text. It does not constitute financial advice and should not be used as a basis for investment decisions. Consult a qualified financial professional for personalized guidance.

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