American Express (NYSE:AXP) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. lifted its holdings in American Express (NYSE:AXP) by 2.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 591,437 shares of the payment services company’s stock after purchasing an additional 15,468 shares during the quarter. Franklin Resources Inc. owned about 0.08% of American Express worth $175,532,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of American Express during the fourth quarter worth about $1,785,867,000. Proficio Capital Partners LLC grew its position in American Express by 36,719.1% during the 4th quarter. Proficio Capital Partners LLC now owns 1,011,790 shares of the payment services company’s stock worth $300,289,000 after purchasing an additional 1,009,042 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in American Express during the 4th quarter worth approximately $292,081,000. World Investment Advisors LLC increased its stake in American Express by 35,213.7% during the 3rd quarter. World Investment Advisors LLC now owns 317,117 shares of the payment services company’s stock valued at $86,002,000 after purchasing an additional 316,219 shares in the last quarter. Finally, National Bank of Canada FI raised its holdings in shares of American Express by 73.7% in the third quarter. National Bank of Canada FI now owns 707,381 shares of the payment services company’s stock worth $191,842,000 after buying an additional 300,138 shares during the last quarter. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at American Express

In other American Express news, insider Ravikumar Radhakrishnan sold 9,485 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $319.17, for a total value of $3,027,327.45. Following the completion of the sale, the insider now owns 13,500 shares in the company, valued at approximately $4,308,795. This represents a 41.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael J. Angelakis bought 3,700 shares of the stock in a transaction dated Friday, March 7th. The shares were bought at an average price of $269.89 per share, for a total transaction of $998,593.00. Following the completion of the acquisition, the director now owns 3,700 shares in the company, valued at approximately $998,593. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.20% of the stock is owned by corporate insiders.

American Express Price Performance

Shares of NYSE AXP opened at $270.31 on Wednesday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58. The firm has a fifty day moving average of $293.20 and a 200 day moving average of $289.86. The firm has a market cap of $189.90 billion, a PE ratio of 19.29, a PEG ratio of 1.41 and a beta of 1.21. American Express has a one year low of $214.51 and a one year high of $326.28.

American Express (NYSE:AXP) last released its earnings results on Friday, January 24th. The payment services company reported $3.04 EPS for the quarter, topping analysts’ consensus estimates of $3.00 by $0.04. American Express had a net margin of 15.36% and a return on equity of 32.65%. As a group, research analysts predict that American Express will post 15.33 EPS for the current fiscal year.

American Express Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 4th will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 1.21%. This is a boost from American Express’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, April 4th. American Express’s payout ratio is presently 23.41%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Morgan Stanley upped their target price on American Express from $305.00 to $310.00 and gave the company an “equal weight” rating in a research report on Monday, January 27th. JPMorgan Chase & Co. increased their price objective on American Express from $301.00 to $307.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. UBS Group lifted their target price on American Express from $283.00 to $320.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Truist Financial started coverage on shares of American Express in a research report on Tuesday, January 7th. They set a “buy” rating and a $350.00 price target for the company. Finally, Keefe, Bruyette & Woods upped their price objective on shares of American Express from $350.00 to $360.00 and gave the company an “outperform” rating in a report on Monday, January 27th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $302.57.

American Express 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.