Franklin Resources Inc. Grows Stock Position in American Express (NYSE:AXP)

Franklin Resources Inc. increased its holdings in American Express (NYSE:AXP) by 2.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 591,437 shares of the payment services company’s stock after acquiring an additional 15,468 shares during the period. Franklin Resources Inc.’s holdings in American Express were worth $175,532,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC grew its holdings in shares of American Express by 1.6% during the 4th quarter. Opal Wealth Advisors LLC now owns 2,142 shares of the payment services company’s stock worth $636,000 after purchasing an additional 33 shares during the period. Catalina Capital Group LLC boosted its stake in American Express by 1.0% during the fourth quarter. Catalina Capital Group LLC now owns 3,356 shares of the payment services company’s stock worth $996,000 after buying an additional 34 shares during the period. Boston Financial Mangement LLC increased its position in shares of American Express by 0.9% during the fourth quarter. Boston Financial Mangement LLC now owns 4,007 shares of the payment services company’s stock valued at $1,189,000 after acquiring an additional 34 shares during the last quarter. Abel Hall LLC lifted its holdings in shares of American Express by 3.6% in the 3rd quarter. Abel Hall LLC now owns 1,011 shares of the payment services company’s stock worth $274,000 after acquiring an additional 35 shares during the last quarter. Finally, Sunflower Bank N.A. boosted its position in shares of American Express by 0.9% during the 4th quarter. Sunflower Bank N.A. now owns 4,054 shares of the payment services company’s stock worth $1,203,000 after purchasing an additional 35 shares during the period. Institutional investors and hedge funds own 84.33% of the company’s stock.

Analyst Upgrades and Downgrades

AXP has been the topic of a number of research analyst reports. The Goldman Sachs Group cut their target price on American Express from $367.00 to $330.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th. William Blair reiterated an “outperform” rating on shares of American Express in a report on Monday, January 27th. Evercore ISI raised their target price on American Express from $315.00 to $344.00 and gave the company an “in-line” rating in a report on Monday, January 27th. Monness Crespi & Hardt boosted their price target on shares of American Express from $330.00 to $355.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, Compass Point reduced their price target on shares of American Express from $325.00 to $309.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $302.57.

American Express Stock Up 0.5 %

Shares of NYSE:AXP opened at $270.31 on Wednesday. The firm has a 50 day simple moving average of $293.20 and a 200-day simple moving average of $289.86. American Express has a twelve month low of $214.51 and a twelve month high of $326.28. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. The company has a market capitalization of $189.90 billion, a PE ratio of 19.29, a P/E/G ratio of 1.41 and a beta of 1.21.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share for the quarter, beating 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%. On average, equities 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 paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Friday, April 4th. This is an increase from American Express’s previous quarterly dividend of $0.70. American Express’s dividend payout ratio (DPR) is currently 23.41%.

Insiders Place Their Bets

In other American Express news, Director Michael J. Angelakis acquired 3,700 shares of the stock in a transaction on Friday, March 7th. The shares were bought at an average cost of $269.89 per share, with a total value of $998,593.00. Following the transaction, the director now owns 3,700 shares of the company’s stock, valued at approximately $998,593. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Raymond Joabar sold 15,179 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $313.94, for a total transaction of $4,765,295.26. Following the completion of the sale, the insider now directly owns 23,866 shares of the company’s stock, valued at $7,492,492.04. The trade was a 38.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.

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.