Sumitomo Mitsui DS Asset Management Company Ltd Sells 4,465 Shares of American Express (NYSE:AXP)

Sumitomo Mitsui DS Asset Management Company Ltd lessened its holdings in shares of American Express (NYSE:AXP) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 315,261 shares of the payment services company’s stock after selling 4,465 shares during the period. American Express makes up 1.0% of Sumitomo Mitsui DS Asset Management Company Ltd’s portfolio, making the stock its 22nd biggest position. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in American Express were worth $93,566,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Prospera Private Wealth LLC bought a new stake in shares of American Express in the third quarter valued at about $27,000. Kennebec Savings Bank acquired a new stake in American Express in the 3rd quarter valued at approximately $29,000. True Wealth Design LLC lifted its stake in American Express by 332.0% in the 3rd quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock valued at $29,000 after acquiring an additional 83 shares in the last quarter. Financial Life Planners acquired a new stake in shares of American Express in the fourth quarter valued at approximately $38,000. Finally, Itau Unibanco Holding S.A. acquired a new position in American Express during the third quarter worth $38,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on AXP shares. Barclays increased their price objective on shares of American Express from $250.00 to $257.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. William Blair reiterated an “outperform” rating on shares of American Express in a research note on Monday, January 27th. HSBC raised their target price on shares of American Express from $270.00 to $294.00 and gave the company a “hold” rating in a research note on Friday, January 24th. Morgan Stanley increased their price target on shares of American Express from $305.00 to $310.00 and gave the company an “equal weight” rating in a research note on Monday, January 27th. Finally, Compass Point lowered their price objective on shares of American Express from $325.00 to $309.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $296.38.

Insider Buying and Selling at American Express

In related news, insider Raymond Joabar sold 15,179 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $313.94, for a total value of $4,765,295.26. Following the completion of the transaction, the insider now owns 23,866 shares of the company’s stock, valued at $7,492,492.04. This represents a 38.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Caillec Christophe Le sold 6,000 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $303.48, for a total transaction of $1,820,880.00. Following the sale, the chief financial officer now directly owns 6,433 shares in the company, valued at approximately $1,952,286.84. The trade was a 48.26 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,664 shares of company stock valued at $9,613,503. 0.11% of the stock is currently owned by corporate insiders.

American Express Stock Performance

Shares of NYSE:AXP opened at $320.18 on Friday. American Express has a 12-month low of $205.60 and a 12-month high of $326.27. The company’s 50 day moving average price is $305.73 and its two-hundred day moving average price is $279.01. The firm has a market cap of $225.55 billion, a PE ratio of 22.85, a PEG ratio of 1.49 and a beta of 1.24. The company has a quick ratio of 1.63, a current ratio of 1.67 and a debt-to-equity ratio of 1.64.

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

American Express Announces Dividend

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

About American Express

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.