Sumitomo Mitsui Trust Holdings Inc. Sells 254,394 Shares of American Express (NYSE:AXP)

Sumitomo Mitsui Trust Holdings Inc. trimmed its holdings in shares of American Express (NYSE:AXP) by 8.0% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,940,024 shares of the payment services company’s stock after selling 254,394 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.35% of American Express worth $362,917,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Laurel Wealth Advisors Inc. grew its stake in shares of American Express by 2.0% during the 1st quarter. Laurel Wealth Advisors Inc. now owns 4,192 shares of the payment services company’s stock worth $458,000 after acquiring an additional 84 shares in the last quarter. Welch Group LLC grew its stake in shares of American Express by 2.2% during the 2nd quarter. Welch Group LLC now owns 3,855 shares of the payment services company’s stock worth $476,000 after acquiring an additional 84 shares in the last quarter. Papp L Roy & Associates grew its stake in shares of American Express by 1.3% during the 1st quarter. Papp L Roy & Associates now owns 6,750 shares of the payment services company’s stock worth $738,000 after acquiring an additional 86 shares in the last quarter. Enterprise Financial Services Corp grew its stake in shares of American Express by 24.8% during the 1st quarter. Enterprise Financial Services Corp now owns 473 shares of the payment services company’s stock worth $51,000 after acquiring an additional 94 shares in the last quarter. Finally, Brandywine Oak Private Wealth LLC grew its stake in shares of American Express by 3.8% during the 1st quarter. Brandywine Oak Private Wealth LLC now owns 2,654 shares of the payment services company’s stock worth $290,000 after acquiring an additional 97 shares in the last quarter. 84.02% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE AXP traded up $0.82 during trading hours on Wednesday, hitting $123.37. The company had a trading volume of 2,083,136 shares, compared to its average volume of 3,268,170. The firm’s 50 day moving average price is $125.50. American Express has a 1-year low of $89.05 and a 1-year high of $129.34. The stock has a market capitalization of $100.70 billion, a PE ratio of 16.83, a P/E/G ratio of 1.40 and a beta of 1.05. The company has a debt-to-equity ratio of 2.50, a current ratio of 1.84 and a quick ratio of 1.84.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, July 19th. The payment services company reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.02. American Express had a return on equity of 29.75% and a net margin of 16.60%. The business had revenue of $10.84 billion during the quarter, compared to the consensus estimate of $10.82 billion. During the same quarter last year, the firm posted $1.84 EPS. The company’s quarterly revenue was up 8.4% on a year-over-year basis. Equities research analysts expect that American Express will post 8.14 EPS for the current year.

Several brokerages have recently weighed in on AXP. UBS Group cut shares of American Express from a “buy” rating to a “neutral” rating and set a $117.60 price target for the company. in a research note on Monday, April 29th. Bank of America began coverage on shares of American Express in a research note on Wednesday, June 19th. They set a “buy” rating and a $145.00 price target for the company. Jefferies Financial Group set a $130.00 price target on shares of American Express and gave the stock a “hold” rating in a research note on Friday, July 19th. Morgan Stanley raised shares of American Express from an “equal weight” rating to an “overweight” rating and set a $140.00 price target for the company in a research note on Friday, May 3rd. Finally, BMO Capital Markets raised their price target on shares of American Express to $119.00 and gave the stock a “market perform” rating in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $124.38.

In other American Express news, Chairman Stephen J. Squeri sold 101,964 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $119.95, for a total transaction of $12,230,581.80. Following the transaction, the chairman now owns 258,948 shares in the company, valued at approximately $31,060,812.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jeffrey C. Campbell sold 6,500 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $122.93, for a total value of $799,045.00. Following the transaction, the chief financial officer now owns 68,379 shares in the company, valued at approximately $8,405,830.47. The disclosure for this sale can be found here. Insiders have sold a total of 190,548 shares of company stock valued at $22,910,322 in the last ninety days. Insiders own 0.21% of the company’s stock.

About American Express

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services to consumers and businesses worldwide. It operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.

Recommended Story: FAANG Stocks

Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express (NYSE:AXP).

Institutional Ownership by Quarter for American Express (NYSE:AXP)

Receive News & Ratings for American Express Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Express and related companies with MarketBeat.com's FREE daily email newsletter.