Sumitomo Mitsui Trust Group Inc. Has $508.67 Million Stock Position in American Express Company $AXP

Key Points

• Sumitomo Mitsui Trust Group Inc. has increased its stake in American Express to approximately $508.67 million, owning over 1.5 million shares after a slight increase during the second quarter.
• Institutional investors hold 84.33% of American Express stock, with several firms, including Goldman Sachs and Vanguard Group, significantly increasing their positions in the first quarter.
• American Express recently reported earnings of $4.14 EPS, exceeding analysts’ estimates, alongside a revenue of $18.43 billion, which was also above expectations, indicating a strong financial performance.

Sumitomo Mitsui Trust Group Inc. increased its position in American Express Company (NYSE:AXP - Free Report) by 0.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,594,663 shares of the payment services company's stock after purchasing an additional 13,196 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.23% of American Express worth $508,666,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of AXP. Nuveen LLC acquired a new position in shares of American Express during the 1st quarter worth about $1,454,667,000. Wellington Management Group LLP grew its position in shares of American Express by 13.7% in the 1st quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company's stock valued at $4,849,777,000 after purchasing an additional 2,168,445 shares during the period. Goldman Sachs Group Inc. grew its position in shares of American Express by 25.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,752,690 shares of the payment services company's stock valued at $1,278,711,000 after purchasing an additional 965,221 shares during the period. Vanguard Group Inc. grew its position in shares of American Express by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 45,843,893 shares of the payment services company's stock valued at $12,334,299,000 after purchasing an additional 605,900 shares during the period. Finally, Provident Trust Co. acquired a new position in shares of American Express in the 1st quarter valued at approximately $126,119,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AXP has been the subject of a number of recent research reports. Barclays upped their price target on American Express from $336.00 to $355.00 and gave the stock an "equal weight" rating in a research report on Monday. BTIG Research upped their price objective on American Express from $277.00 to $307.00 and gave the stock a "sell" rating in a research note on Friday, October 17th. HSBC set a $295.00 price target on American Express and gave the company a "hold" rating in a research note on Friday, October 10th. JPMorgan Chase & Co. increased their price target on American Express from $343.00 to $355.00 and gave the company a "neutral" rating in a research note on Tuesday, October 7th. Finally, Compass Point restated a "neutral" rating and issued a $324.00 price target on shares of American Express in a research note on Monday. Nine equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $332.65.

American Express Stock Up 1.0%

AXP stock opened at $358.65 on Friday. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.61 and a quick ratio of 1.69. The stock has a market capitalization of $247.06 billion, a price-to-earnings ratio of 24.07, a PEG ratio of 1.83 and a beta of 1.29. The business's fifty day moving average price is $329.58 and its two-hundred day moving average price is $304.99. American Express Company has a fifty-two week low of $220.43 and a fifty-two week high of $357.73.

American Express (NYSE:AXP - Get Free Report) last issued its quarterly earnings results on Friday, October 17th. The payment services company reported $4.14 EPS for the quarter, topping 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 for the quarter, compared to analysts' expectations of $18.03 billion. During the same quarter last year, the business earned $3.49 earnings per share. American Express'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 analysts anticipate 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. Investors of record on Friday, October 10th will be paid a $0.82 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $3.28 annualized dividend and a yield of 0.9%. American Express's dividend payout ratio (DPR) is 22.01%.

Insiders Place Their Bets

In other American Express news, insider Glenda G. Mcneal sold 50,000 shares of American Express stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total value of $15,475,000.00. Following the completion of the sale, the insider directly owned 10,957 shares in the company, valued at approximately $3,391,191.50. The trade was a 82.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Laureen Seeger sold 16,998 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $294.83, for a total value of $5,011,520.34. Following the sale, the insider owned 9,001 shares of the company's stock, valued at approximately $2,653,764.83. This represents a 65.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 269,996 shares of company stock valued at $85,261,270 over the last ninety days. 0.20% of the stock is owned by insiders.

American Express 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.

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