Sumitomo Life Insurance Co. Has $4.96 Million Position in American Express Company $AXP

Sumitomo Life Insurance Co. reduced its position in shares of American Express Company (NYSE:AXP) by 16.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,539 shares of the payment services company’s stock after selling 3,171 shares during the period. Sumitomo Life Insurance Co.’s holdings in American Express were worth $4,957,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of American Express by 1.3% during the first quarter. Vanguard Group Inc. now owns 45,843,893 shares of the payment services company’s stock worth $12,334,299,000 after buying an additional 605,900 shares during the period. Wellington Management Group LLP boosted its position in shares of American Express by 13.7% during the first quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company’s stock worth $4,849,777,000 after buying an additional 2,168,445 shares during the period. Nuveen LLC acquired a new position in shares of American Express during the first quarter worth about $1,454,667,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of American Express by 1.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,093,807 shares of the payment services company’s stock worth $1,370,489,000 after buying an additional 78,538 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of American Express by 25.5% during the first quarter. Goldman Sachs Group Inc. now owns 4,752,690 shares of the payment services company’s stock worth $1,278,711,000 after buying an additional 965,221 shares during the period. 84.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AXP has been the subject of several recent research reports. Wells Fargo & Company upped 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. Monness Crespi & Hardt cut American Express from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 15th. Morgan Stanley increased their price target on American Express from $311.00 to $362.00 and gave the company an “equal weight” rating in a research report on Monday, September 29th. Deutsche Bank Aktiengesellschaft increased their price target on American Express from $371.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, July 21st. Finally, Barclays increased their price target on American Express from $336.00 to $355.00 and gave the company an “equal weight” rating in a research report on Monday, October 20th. Nine investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $332.65.

American Express Stock Performance

AXP opened at $360.70 on Friday. American Express Company has a 12-month low of $220.43 and a 12-month high of $365.75. The stock has a market cap of $248.47 billion, a price-to-earnings ratio of 24.21, a PEG ratio of 1.90 and a beta of 1.29. The business has a 50 day moving average of $335.65 and a 200-day moving average of $310.37. The company has a quick ratio of 1.59, a current ratio of 1.61 and a debt-to-equity ratio of 1.78.

American Express (NYSE:AXP) last released its quarterly earnings data on Friday, October 17th. The payment services company reported $4.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.98 by $0.16. American Express had a return on equity of 33.41% and a net margin of 14.97%.The company had revenue of $18.43 billion during the quarter, compared to analysts’ expectations of $18.03 billion. During the same period last year, the firm posted $3.49 earnings per share. The business’s revenue was up 11.0% on a year-over-year basis. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. On average, equities research analysts expect that American Express Company will post 15.33 earnings per share for the current year.

American Express Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Friday, October 10th will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, October 10th. American Express’s dividend payout ratio (DPR) is presently 22.01%.

Insider Buying and Selling

In other news, insider Douglas Tabish sold 2,515 shares of the firm’s stock in a transaction that occurred on Thursday, October 23rd. The stock was 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 $894,359.15. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $326.37, for a total value of $7,671,326.85. Following the transaction, the insider owned 123,613 shares in the company, valued at approximately $40,343,574.81. This trade represents a 15.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 222,011 shares of company stock valued at $70,725,044. Insiders own 0.20% of the company’s stock.

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.