Franklin Resources Inc. Sells 46,343 Shares of American Express (NYSE:AXP)

Franklin Resources Inc. lowered its stake in American Express (NYSE:AXP) by 5.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 862,093 shares of the payment services company’s stock after selling 46,343 shares during the period. Franklin Resources Inc.’s holdings in American Express were worth $161,505,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. BKM Wealth Management LLC acquired a new position in American Express during the fourth quarter worth $28,000. Tennessee Valley Asset Management Partners acquired a new position in American Express during the fourth quarter worth $28,000. Pacifica Partners Inc. acquired a new position in American Express during the fourth quarter worth $29,000. Baldwin Brothers LLC MA increased its holdings in shares of American Express by 134.8% in the fourth quarter. Baldwin Brothers LLC MA now owns 155 shares of the payment services company’s stock valued at $29,000 after purchasing an additional 89 shares during the last quarter. Finally, Sachetta LLC acquired a new position in shares of American Express in the fourth quarter valued at $29,000. Institutional investors own 84.33% of the company’s stock.

American Express Stock Performance

NYSE:AXP opened at $240.90 on Thursday. The company has a market capitalization of $173.28 billion, a PE ratio of 19.78, a P/E/G ratio of 1.38 and a beta of 1.20. The company has a 50 day simple moving average of $229.80 and a two-hundred day simple moving average of $203.10. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.62 and a current ratio of 1.62. American Express has a fifty-two week low of $140.91 and a fifty-two week high of $244.41.

American Express (NYSE:AXPGet Free Report) last released its earnings results on Friday, April 19th. The payment services company reported $3.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.36. The business had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $15.79 billion. American Express had a net margin of 14.50% and a return on equity of 32.46%. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.40 EPS. Research analysts anticipate that American Express will post 13.01 earnings per share for the current year.

American Express Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be given a dividend of $0.70 per share. This is an increase from American Express’s previous quarterly dividend of $0.10. The ex-dividend date is Friday, July 5th. This represents a $2.80 annualized dividend and a dividend yield of 1.16%. American Express’s dividend payout ratio (DPR) is 23.06%.

Insider Transactions at American Express

In related news, EVP Quinn Jessica Lieberman sold 3,141 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $232.36, for a total value of $729,842.76. Following the transaction, the executive vice president now directly owns 258 shares in the company, valued at approximately $59,948.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Stephen J. Squeri sold 38,873 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $238.63, for a total value of $9,276,263.99. Following the transaction, the chief executive officer now directly owns 76,310 shares in the company, valued at approximately $18,209,855.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Quinn Jessica Lieberman sold 3,141 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $232.36, for a total value of $729,842.76. Following the completion of the transaction, the executive vice president now owns 258 shares in the company, valued at $59,948.88. The disclosure for this sale can be found here. Insiders sold a total of 177,717 shares of company stock valued at $41,680,999 in the last quarter. 0.12% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. StockNews.com upgraded shares of American Express from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. William Blair reiterated an “outperform” rating on shares of American Express in a report on Friday, April 26th. JPMorgan Chase & Co. boosted their target price on shares of American Express from $214.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, April 3rd. Evercore ISI boosted their target price on shares of American Express from $243.00 to $255.00 and gave the company an “in-line” rating in a research report on Wednesday, April 24th. Finally, Morgan Stanley boosted their target price on shares of American Express from $222.00 to $226.00 and gave the company an “equal weight” rating in a research report on Monday, April 22nd. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $210.71.

Read Our Latest Report on American Express

About American Express

(Free Report)

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.

See Also

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

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