Sumitomo Mitsui Financial Group Inc. Buys 16,262 Shares of American Express Company $AXP

by · The Markets Daily

Sumitomo Mitsui Financial Group Inc. grew its position in shares of American Express Company (NYSE:AXP – Free Report) by 28.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 74,212 shares of the payment services company’s stock after purchasing an additional 16,262 shares during the quarter. American Express makes up 0.4% of Sumitomo Mitsui Financial Group Inc.’s holdings, making the stock its 29th biggest holding. Sumitomo Mitsui Financial Group Inc.’s holdings in American Express were worth $23,672,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Access Investment Management LLC acquired a new position in shares of American Express in the second quarter worth approximately $26,000. Briaud Financial Planning Inc bought a new position in American Express during the 2nd quarter worth approximately $26,000. Chung Wu Investment Group LLC acquired a new position in shares of American Express in the 2nd quarter worth approximately $37,000. Solstein Capital LLC bought a new stake in shares of American Express in the 2nd quarter valued at $39,000. Finally, Proffitt & Goodson Inc. bought a new stake in shares of American Express in the 2nd quarter valued at $41,000. 84.33% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Douglas Tabish sold 2,515 shares of the business’s 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 sale, the insider owned 2,515 shares of the company’s stock, valued at $894,359.15. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Stephen J. Squeri sold 112,272 shares of the firm’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $329.86, for a total value of $37,034,041.92. Following the completion of the transaction, the chief executive officer directly owned 92,810 shares of the company’s stock, valued at $30,614,306.60. The trade was a 54.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 193,292 shares of company stock worth $65,363,878. 0.20% of the stock is owned by company insiders.

American Express Stock Up 0.4%

American Express stock opened at $364.26 on Thursday. The firm has a market capitalization of $250.92 billion, a price-to-earnings ratio of 24.45, a price-to-earnings-growth ratio of 1.90 and a beta of 1.27. The firm’s fifty day moving average price is $347.25 and its two-hundred day moving average price is $322.06. American Express Company has a 1-year low of $220.43 and a 1-year high of $377.23. The company has a current ratio of 1.61, a quick ratio of 1.59 and a debt-to-equity ratio of 1.78.

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

American Express Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 10th. Shareholders of record on Friday, October 10th were issued 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 is 22.01%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on AXP shares. Wells Fargo & Company lifted their target price on shares of American Express from $375.00 to $400.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Morgan Stanley lifted their price objective on American Express from $311.00 to $362.00 and gave the stock an “equal weight” rating in a research report on Monday, September 29th. Weiss Ratings raised American Express from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday. BTIG Research raised their target price on American Express from $277.00 to $307.00 and gave the stock a “sell” rating in a research note on Friday, October 17th. Finally, UBS Group boosted their price target on American Express from $330.00 to $340.00 and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Nine equities research 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. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $332.65.

Get Our Latest Stock Report on American Express

American Express Profile

(Free Report)

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.

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