Sumitomo Life Insurance Co. Invests $4.32 Million in American Express Company $AXP

Sumitomo Life Insurance Co. bought a new position in American Express Company (NYSE:AXP) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 12,756 shares of the payment services company’s stock, valued at approximately $4,315,000.

A number of other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in American Express during the second quarter worth about $14,208,662,000. State Street Corp increased its position in shares of American Express by 1.3% during the 4th quarter. State Street Corp now owns 29,464,868 shares of the payment services company’s stock valued at $10,900,528,000 after purchasing an additional 369,967 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of American Express by 1.6% during the 4th quarter. Fisher Asset Management LLC now owns 9,023,482 shares of the payment services company’s stock valued at $3,338,238,000 after purchasing an additional 141,936 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of American Express by 7.7% during the 4th quarter. Bank of America Corp DE now owns 7,850,298 shares of the payment services company’s stock valued at $2,904,218,000 after buying an additional 558,533 shares in the last quarter. Finally, Capital World Investors lifted 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 worth $2,780,424,000 after buying an additional 2,393,340 shares during the last quarter. Institutional investors own 84.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on AXP shares. The Goldman Sachs Group lifted their price target on shares of American Express from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. JPMorgan Chase & Co. raised shares of American Express from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $328.00 to $400.00 in a research note on Monday, July 13th. HSBC increased their target price on shares of American Express from $312.00 to $329.00 and gave the company a “hold” rating in a report on Monday, July 13th. Freedom Capital upgraded shares of American Express from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 14th. Finally, Piper Sandler boosted their price target on shares of American Express from $396.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $373.32.

American Express Price Performance

Shares of American Express stock opened at $336.00 on Friday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.55 and a quick ratio of 1.54. The business’s 50 day simple moving average is $343.19 and its two-hundred day simple moving average is $326.83. The stock has a market capitalization of $226.90 billion, a P/E ratio of 20.39, a price-to-earnings-growth ratio of 1.34 and a beta of 1.04. American Express Company has a one year low of $290.97 and a one year high of $387.49.

American Express (NYSE:AXP) last released its quarterly earnings data on Friday, July 24th. The payment services company reported $4.53 earnings per share for the quarter, beating analysts’ consensus estimates of $4.41 by $0.12. American Express had a return on equity of 34.12% and a net margin of 15.07%.The firm had revenue of $19.64 billion during the quarter, compared to analyst estimates of $19.70 billion. During the same quarter in the prior year, the firm posted $4.08 earnings per share. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. Analysts forecast that American Express Company will post 17.67 EPS for the current year.

American Express Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Thursday, July 2nd were issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Thursday, July 2nd. American Express’s dividend payout ratio is currently 23.06%.

About American Express

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.