American Express Company $AXP Shares Acquired by Sumitomo Mitsui Financial Group Inc.

Key Points

• Sumitomo Mitsui Financial Group increased its stake in American Express by 4.8% in the fourth quarter, buying 4,008 more shares and bringing its total to 86,871 shares valued at about $32.1 million.
• Institutional ownership remains very high, with hedge funds and other institutions holding 84.33% of American Express shares; several large investors also added to their positions recently.
• American Express beat quarterly EPS expectations with $4.28 per share versus $4.01 expected, while revenue rose 11.4% year over year. The company also declared a quarterly dividend of $0.95 per share, and analysts currently have a consensus “Hold” rating with an average price target of $359.05.

Sumitomo Mitsui Financial Group Inc. increased its holdings in American Express Company (NYSE:AXP) by 4.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 86,871 shares of the payment services company's stock after acquiring an additional 4,008 shares during the quarter. American Express makes up about 0.6% of Sumitomo Mitsui Financial Group Inc.'s holdings, making the stock its 28th biggest position. Sumitomo Mitsui Financial Group Inc.'s holdings in American Express were worth $32,138,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of AXP. Norges Bank acquired a new position in shares of American Express in the 4th quarter valued at $2,464,215,000. Capital World Investors grew its position in American Express by 46.7% in the 4th quarter. Capital World Investors now owns 7,515,675 shares of the payment services company's stock valued at $2,780,424,000 after buying an additional 2,393,340 shares during the last quarter. Ameriprise Financial Inc. grew its position in American Express by 27.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,970,416 shares of the payment services company's stock valued at $1,310,515,000 after buying an additional 845,283 shares during the last quarter. Amundi grew its position in American Express by 23.9% in the 3rd quarter. Amundi now owns 2,787,580 shares of the payment services company's stock valued at $925,449,000 after buying an additional 537,205 shares during the last quarter. Finally, Danske Bank A S purchased a new position in American Express in the 3rd quarter valued at $153,292,000. 84.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Barclays lowered their price objective on shares of American Express from $323.00 to $322.00 and set an "equal weight" rating on the stock in a research report on Friday, April 24th. Weiss Ratings lowered shares of American Express from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, April 15th. Bank of America lifted their price objective on shares of American Express from $381.00 to $387.00 and gave the company a "buy" rating in a research report on Friday, April 24th. The Goldman Sachs Group lifted their price objective on shares of American Express from $360.00 to $400.00 and gave the company a "buy" rating in a research report on Tuesday, April 28th. Finally, Morgan Stanley lowered their price objective on shares of American Express from $395.00 to $385.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, American Express currently has a consensus rating of "Hold" and an average price target of $359.05.

American Express Price Performance

Shares of NYSE AXP opened at $318.95 on Friday. The firm has a market capitalization of $217.63 billion, a P/E ratio of 19.90, a PEG ratio of 1.27 and a beta of 1.06. American Express Company has a one year low of $286.15 and a one year high of $387.49. The company's fifty day moving average is $315.36 and its two-hundred day moving average is $336.06. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.56 and a current ratio of 1.57.

American Express (NYSE:AXP - Get Free Report) last issued its earnings results on Thursday, April 23rd. The payment services company reported $4.28 EPS for the quarter, topping the consensus estimate of $4.01 by $0.27. The company had revenue of $14.22 billion for the quarter, compared to analyst estimates of $18.60 billion. American Express had a net margin of 15.13% and a return on equity of 33.95%. The business's revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the firm earned $3.64 EPS. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. Analysts forecast that American Express Company will post 17.59 EPS for the current fiscal year.

American Express Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Thursday, July 2nd will be given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Thursday, July 2nd. American Express's payout ratio is presently 23.71%.

American Express Profile

American Express is a global financial services company primarily known for its payment card products, travel services and merchant network. Founded in 1850 as an express mail business, the company evolved through the 20th century into a payments and travel-focused organization. Its core activities include issuing consumer and commercial charge and credit cards, operating a global card acceptance and processing network, and providing travel-related services and customer loyalty programs.

American Express issues a range of products for individuals, small businesses and large corporations, including personal cards, business and corporate cards, and co‑brand partnerships with airlines, hotels and retailers.

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