Sumitomo Mitsui Financial Group Inc. Boosts Holdings in American Express Company $AXP

Sumitomo Mitsui Financial Group Inc. raised its position in American Express Company (NYSE:AXP) by 28.1% in the 2nd quarter, Holdings Channel reports. The firm owned 74,212 shares of the payment services company’s stock after buying an additional 16,262 shares during the quarter. American Express accounts for 0.4% of Sumitomo Mitsui Financial Group Inc.’s holdings, making the stock its 29th largest position. Sumitomo Mitsui Financial Group Inc.’s holdings in American Express were worth $23,672,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AXP. Briaud Financial Planning Inc bought a new stake in shares of American Express during the 2nd quarter valued at about $26,000. Access Investment Management LLC bought a new stake in shares of American Express during the 2nd quarter worth $26,000. 1 North Wealth Services LLC bought a new stake in American Express in the 1st quarter worth approximately $37,000. Chung Wu Investment Group LLC purchased a new stake in American Express during the second quarter valued at about $37,000. Finally, Solstein Capital LLC bought a new stake in shares of American Express in the 2nd quarter valued at about $39,000. Institutional investors own 84.33% of the company’s stock.

Insider Activity at American Express

In related news, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $326.37, for a total value of $7,671,326.85. Following the completion of the sale, the insider owned 123,613 shares of the company’s stock, valued at approximately $40,343,574.81. The trade was a 15.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Douglas Tabish sold 2,515 shares of the stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $355.61, for a total value of $894,359.15. Following the completion of the sale, the insider directly owned 2,515 shares of the company’s stock, valued at approximately $894,359.15. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 193,292 shares of company stock valued at $65,363,878 in the last quarter. 0.20% of the stock is currently owned by insiders.

American Express Stock Performance

NYSE:AXP opened at $364.26 on Thursday. The stock has a 50-day simple moving average of $347.25 and a two-hundred day simple moving average of $322.06. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.59 and a current ratio of 1.61. American Express Company has a 52-week low of $220.43 and a 52-week high of $377.23. The firm has a market capitalization of $250.92 billion, a PE ratio of 24.45, a P/E/G ratio of 1.90 and a beta of 1.27.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, October 17th. The payment services company reported $4.14 EPS for the quarter, topping the consensus estimate of $3.98 by $0.16. American Express had a net margin of 14.97% and a return on equity of 33.41%. The business had revenue of $17.14 billion for the quarter, compared to analysts’ expectations of $18.03 billion. During the same quarter in the previous year, the company earned $3.49 EPS. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. Analysts forecast that American Express Company will post 15.33 EPS for the current year.

American Express Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 10th. Shareholders of record on Friday, October 10th were given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Friday, October 10th. American Express’s dividend payout ratio (DPR) is currently 22.01%.

Analysts Set New Price Targets

AXP has been the topic of a number of analyst reports. Morgan Stanley lifted their price target on American Express from $311.00 to $362.00 and gave the stock an “equal weight” rating in a research note on Monday, September 29th. Barclays raised their target price on American Express from $336.00 to $355.00 and gave the stock an “equal weight” rating in a research note on Monday, October 20th. Wells Fargo & Company lifted their price objective on American Express from $375.00 to $400.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. DZ Bank upgraded American Express from a “sell” rating to a “hold” rating and set a $340.00 target price for the company in a report on Tuesday, October 21st. Finally, Compass Point reiterated a “neutral” rating and issued a $324.00 price target on shares of American Express in a report on Monday, October 20th. Nine research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, American Express has an average rating of “Hold” and an average target price of $332.65.

American Express Company 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.