Sumitomo Mitsui Financial Group Inc. Takes $15.59 Million Position in American Express Company $AXP

Key Points

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Sumitomo Mitsui Financial Group Inc. bought a new position in American Express Company (NYSE:AXP - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 57,950 shares of the payment services company's stock, valued at approximately $15,591,000.

Other hedge funds have also made changes to their positions in the company. Financial Engines Advisors L.L.C. boosted its stake in American Express by 4.7% in the 1st quarter. Financial Engines Advisors L.L.C. now owns 772 shares of the payment services company's stock worth $208,000 after purchasing an additional 35 shares in the last quarter. Tyler Stone Wealth Management increased its stake in American Express by 4.8% during the 1st quarter. Tyler Stone Wealth Management now owns 792 shares of the payment services company's stock valued at $213,000 after purchasing an additional 36 shares in the last quarter. Hemington Wealth Management raised its holdings in shares of American Express by 2.3% in the first quarter. Hemington Wealth Management now owns 1,661 shares of the payment services company's stock worth $446,000 after buying an additional 38 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of American Express by 2.5% during the first quarter. Revolve Wealth Partners LLC now owns 1,620 shares of the payment services company's stock worth $436,000 after buying an additional 40 shares during the period. Finally, Cornerstone Planning Group LLC grew its holdings in shares of American Express by 0.8% during the first quarter. Cornerstone Planning Group LLC now owns 5,236 shares of the payment services company's stock valued at $1,362,000 after buying an additional 40 shares during the last quarter. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

American Express Stock Performance

NYSE AXP traded up $10.7930 during mid-day trading on Friday, reaching $318.9630. 2,784,219 shares of the stock were exchanged, compared to its average volume of 2,924,702. The company has a market capitalization of $221.96 billion, a P/E ratio of 22.38, a P/E/G ratio of 1.63 and a beta of 1.28. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.60 and a current ratio of 1.61. The business's 50 day moving average is $307.86 and its 200-day moving average is $290.08. American Express Company has a 1 year low of $220.43 and a 1 year high of $329.14.

American Express (NYSE:AXP - Get Free Report) last issued its quarterly earnings data on Friday, July 18th. The payment services company reported $4.08 earnings per share for the quarter, topping analysts' consensus estimates of $3.86 by $0.22. American Express had a net margin of 14.78% and a return on equity of 32.87%. The business had revenue of $17.86 billion during the quarter, compared to the consensus estimate of $17.70 billion. During the same quarter in the prior year, the firm posted $3.49 earnings per share. The company's revenue was up 9.3% compared to the same quarter last year. On average, equities research analysts forecast that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd were issued a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Thursday, July 3rd. American Express's dividend payout ratio (DPR) is presently 23.02%.

Insider Buying and Selling at American Express

In other American Express news, insider Laureen Seeger sold 16,998 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $294.83, for a total value of $5,011,520.34. Following the sale, the insider directly owned 9,001 shares of the company's stock, valued at approximately $2,653,764.83. This trade represents a 65.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Anna Marrs sold 5,500 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $310.77, for a total value of $1,709,235.00. Following the completion of the sale, the insider directly owned 20,311 shares in the company, valued at approximately $6,312,049.47. The trade was a 21.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 134,219 shares of company stock valued at $40,555,901. Company insiders own 0.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on AXP shares. DZ Bank lowered American Express from a "hold" rating to a "sell" rating in a research note on Monday, July 21st. Royal Bank Of Canada reissued an "outperform" rating on shares of American Express in a report on Monday, July 14th. Deutsche Bank Aktiengesellschaft increased their price objective on American Express from $371.00 to $375.00 and gave the company a "buy" rating in a report on Monday, July 21st. Truist Financial increased their price objective on American Express from $335.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. increased their price objective on American Express from $260.00 to $342.00 and gave the company a "neutral" rating in a report on Friday, July 11th. Eight analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, American Express currently has a consensus rating of "Hold" and an average price target of $311.05.

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.