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

Sumitomo Mitsui Trust Holdings Inc. trimmed its position in American Express (NYSE:AXP) by 2.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,789,614 shares of the payment services company’s stock after selling 42,207 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.25% of American Express worth $335,266,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Tyler Stone Wealth Management acquired a new position in American Express in the second quarter valued at about $27,000. BKM Wealth Management LLC purchased a new stake in shares of American Express in the 4th quarter valued at approximately $28,000. Tennessee Valley Asset Management Partners acquired a new position in shares of American Express in the 4th quarter worth approximately $28,000. BluePath Capital Management LLC purchased a new position in shares of American Express during the 3rd quarter worth approximately $29,000. Finally, Pacifica Partners Inc. acquired a new stake in American Express in the 4th quarter valued at approximately $29,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Stock Performance

NYSE AXP remained flat at $218.20 during trading hours on Friday. 2,441,341 shares of the company’s stock traded hands, compared to its average volume of 2,370,278. The firm has a fifty day moving average of $218.88 and a 200 day moving average of $186.14. The stock has a market cap of $157.95 billion, a P/E ratio of 19.46, a PEG ratio of 1.26 and a beta of 1.23. American Express has a one year low of $140.91 and a one year high of $231.69. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.71.

American Express (NYSE:AXP) last announced its earnings results on Friday, January 26th. The payment services company reported $2.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.64 by ($0.02). The firm had revenue of $15.80 billion during the quarter, compared to analyst estimates of $16 billion. American Express had a net margin of 13.84% and a return on equity of 30.99%. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the company earned $2.07 earnings per share. Sell-side analysts expect that American Express will post 12.83 earnings per share for the current fiscal year.

American Express Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 5th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.18%. The ex-dividend date is Thursday, April 4th. American Express’s payout ratio is currently 24.98%.

Insider Buying and Selling at American Express

In related news, insider Monique Herena sold 11,242 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $208.41, for a total value of $2,342,945.22. Following the transaction, the insider now owns 13,874 shares in the company, valued at approximately $2,891,480.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Monique Herena sold 11,242 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $208.41, for a total transaction of $2,342,945.22. Following the completion of the sale, the insider now directly owns 13,874 shares of the company’s stock, valued at $2,891,480.34. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Stephen J. Squeri sold 69,356 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $213.02, for a total transaction of $14,774,215.12. Following the completion of the transaction, the chief executive officer now directly owns 122,158 shares in the company, valued at $26,022,097.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 172,047 shares of company stock worth $36,528,388. 0.12% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

AXP has been the subject of several research analyst reports. Barclays restated an “equal weight” rating and set a $221.00 price target (up from $220.00) on shares of American Express in a research report on Tuesday, April 9th. DZ Bank downgraded American Express from a “hold” rating to a “sell” rating in a research report on Thursday, January 4th. Robert W. Baird cut shares of American Express from a “neutral” rating to an “underperform” rating and set a $190.00 price target on the stock. in a research report on Monday, January 8th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of American Express in a research note on Wednesday, January 10th. They issued a “buy” rating and a $235.00 price objective for the company. Finally, Monness Crespi & Hardt raised American Express from a “neutral” rating to a “buy” rating and set a $245.00 price objective on the stock in a research report on Friday, April 5th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $201.62.

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.