American Express (NYSE:AXP) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its position in shares of American Express (NYSE:AXP) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,667,747 shares of the payment services company’s stock after selling 15,212 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.24% of American Express worth $494,971,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC purchased a new stake in shares of American Express during the fourth quarter worth about $40,920,000. Leo Wealth LLC increased its holdings in American Express by 80.3% during the 4th quarter. Leo Wealth LLC now owns 5,860 shares of the payment services company’s stock worth $1,739,000 after purchasing an additional 2,609 shares during the last quarter. Silver Oak Securities Incorporated raised its position in shares of American Express by 2.5% in the 4th quarter. Silver Oak Securities Incorporated now owns 1,424 shares of the payment services company’s stock valued at $423,000 after purchasing an additional 35 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of American Express by 16.2% during the 4th quarter. State of Alaska Department of Revenue now owns 79,451 shares of the payment services company’s stock valued at $23,579,000 after buying an additional 11,090 shares during the last quarter. Finally, Adero Partners LLC grew its position in shares of American Express by 76.3% during the fourth quarter. Adero Partners LLC now owns 8,717 shares of the payment services company’s stock worth $2,587,000 after buying an additional 3,773 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Trading Down 0.1 %

Shares of AXP stock opened at $320.18 on Friday. American Express has a 1 year low of $205.60 and a 1 year high of $326.27. The firm has a market capitalization of $225.55 billion, a PE ratio of 22.85, a price-to-earnings-growth ratio of 1.49 and a beta of 1.24. The stock has a fifty day moving average of $305.73 and a two-hundred day moving average of $279.01. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.63 and a current ratio of 1.67.

American Express (NYSE:AXP) last announced its earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.00 by $0.04. American Express had a net margin of 15.36% and a return on equity of 32.65%. As a group, research analysts expect that American Express will post 15.3 EPS for the current year.

American Express Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Friday, January 3rd will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.80 annualized dividend and a yield of 0.87%. American Express’s payout ratio is 19.99%.

Insiders Place Their Bets

In other news, insider Ravikumar Radhakrishnan sold 9,485 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $319.17, for a total transaction of $3,027,327.45. Following the completion of the transaction, the insider now owns 13,500 shares in the company, valued at approximately $4,308,795. This trade represents a 41.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Raymond Joabar sold 15,179 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $313.94, for a total transaction of $4,765,295.26. Following the completion of the sale, the insider now owns 23,866 shares in the company, valued at $7,492,492.04. The trade was a 38.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,664 shares of company stock worth $9,613,503 over the last ninety days. Company insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

AXP has been the topic of a number of research analyst reports. Evercore ISI increased their price objective on shares of American Express from $315.00 to $344.00 and gave the company an “in-line” rating in a research note on Monday, January 27th. UBS Group lifted their price target on American Express from $283.00 to $320.00 and gave the stock a “neutral” rating in a research note on Monday, January 13th. Monness Crespi & Hardt boosted their price objective on American Express from $330.00 to $355.00 and gave the company a “buy” rating in a report on Monday, January 27th. Truist Financial initiated coverage on American Express in a report on Tuesday, January 7th. They set a “buy” rating and a $350.00 target price on the stock. Finally, TD Cowen boosted their price target on American Express from $260.00 to $268.00 and gave the company a “hold” rating in a report on Monday, October 21st. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $296.38.

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.