Sumitomo Life Insurance Co. Has $5.21 Million Stake in American Express (NYSE:AXP)

Sumitomo Life Insurance Co. lifted its position in shares of American Express (NYSE:AXP) by 1.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,207 shares of the payment services company’s stock after buying an additional 337 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in American Express were worth $5,209,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Scarborough Advisors LLC bought a new stake in American Express during the fourth quarter valued at $25,000. Game Plan Financial Advisors LLC boosted its position in shares of American Express by 62.5% during the 1st quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock valued at $30,000 after purchasing an additional 50 shares in the last quarter. Creekmur Asset Management LLC acquired a new stake in American Express during the fourth quarter worth approximately $32,000. Riverview Trust Co bought a new stake in American Express in the first quarter worth approximately $38,000. Finally, DHJJ Financial Advisors Ltd. increased its holdings in American Express by 42.2% in the second quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock worth $38,000 after purchasing an additional 49 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

American Express Stock Performance

Shares of American Express stock traded up $1.78 during mid-day trading on Wednesday, hitting $279.09. 175,213 shares of the stock were exchanged, compared to its average volume of 2,892,000. The company has a market capitalization of $200.75 billion, a P/E ratio of 22.84, a P/E/G ratio of 1.50 and a beta of 1.21. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66. The company has a 50-day simple moving average of $258.39 and a 200 day simple moving average of $242.87. American Express has a 12 month low of $140.91 and a 12 month high of $281.42.

American Express (NYSE:AXP) last posted its quarterly earnings data on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.23. American Express had a return on equity of 32.94% and a net margin of 15.53%. The business had revenue of $16.33 billion for the quarter, compared to analysts’ expectations of $16.60 billion. During the same quarter in the previous year, the firm earned $2.89 earnings per share. The business’s revenue was up 9.2% on a year-over-year basis. Sell-side analysts anticipate that American Express will post 13.14 earnings per share for the current fiscal year.

American Express Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a yield of 1.00%. American Express’s dividend payout ratio (DPR) is presently 23.06%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Hsbc Global Res cut American Express from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 8th. Compass Point started coverage on shares of American Express in a research note on Tuesday, July 16th. They set a “neutral” rating and a $260.00 target price on the stock. Wells Fargo & Company lifted their price target on shares of American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. The Goldman Sachs Group increased their price objective on shares of American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Finally, Monness Crespi & Hardt raised their target price on American Express from $265.00 to $300.00 and gave the company a “buy” rating in a research note on Monday. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, American Express has an average rating of “Hold” and an average target price of $242.33.

American Express Company 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.