12,756 Shares in American Express Company $AXP Purchased by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. purchased a new stake in shares of American Express Company (NYSE:AXP) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 12,756 shares of the payment services company’s stock, valued at approximately $4,315,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of American Express during the second quarter valued at approximately $14,208,662,000. State Street Corp lifted its stake in American Express by 1.3% in the fourth quarter. State Street Corp now owns 29,464,868 shares of the payment services company’s stock worth $10,900,528,000 after acquiring an additional 369,967 shares during the period. Fisher Asset Management LLC lifted its stake in American Express by 1.6% in the fourth quarter. Fisher Asset Management LLC now owns 9,023,482 shares of the payment services company’s stock worth $3,338,238,000 after acquiring an additional 141,936 shares during the period. Bank of America Corp DE boosted its holdings in American Express by 7.7% in the fourth 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 acquiring an additional 558,533 shares in the last quarter. Finally, Capital World Investors boosted its holdings in American Express by 46.7% in the fourth quarter. Capital World Investors now owns 7,515,675 shares of the payment services company’s stock valued at $2,780,424,000 after acquiring an additional 2,393,340 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AXP. Piper Sandler upped their price objective on shares of American Express from $396.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday, August 12th. Evercore set a $370.00 target price on shares of American Express in a research note on Monday, July 27th. The Goldman Sachs Group boosted their price target on shares of American Express from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. JPMorgan Chase & Co. raised shares of American Express from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $328.00 to $400.00 in a research note on Monday, July 13th. Finally, DZ Bank upgraded shares of American Express from a “hold” rating to a “buy” rating and set a $375.00 price objective for the company in a report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $373.32.

American Express Price Performance

AXP opened at $336.00 on Friday. The stock has a fifty day simple moving average of $343.19 and a two-hundred day simple moving average of $326.83. The company has a current ratio of 1.55, a quick ratio of 1.54 and a debt-to-equity ratio of 1.66. The company has a market cap of $226.90 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 1.34 and a beta of 1.04. American Express Company has a 12-month low of $290.97 and a 12-month high of $387.49.

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

American Express Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Thursday, July 2nd were given 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 of this dividend was Thursday, July 2nd. American Express’s dividend payout ratio (DPR) is 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.