Candriam S.C.A. Grows Stock Holdings in American Express (NYSE:AXP)

Candriam S.C.A. lifted its position in shares of American Express (NYSE:AXP) by 1.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 340,965 shares of the payment services company’s stock after purchasing an additional 4,723 shares during the period. Candriam S.C.A.’s holdings in American Express were worth $101,195,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Prospera Private Wealth LLC bought a new stake in American Express in the 3rd quarter valued at $27,000. Kennebec Savings Bank bought a new stake in American Express in the 3rd quarter valued at $29,000. True Wealth Design LLC increased its holdings 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 during the last quarter. Itau Unibanco Holding S.A. bought a new stake in American Express in the 3rd quarter valued at $38,000. Finally, Financial Life Planners bought a new stake in American Express in the 4th quarter valued at $38,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Insider Transactions at American Express

In other news, insider Ravikumar Radhakrishnan sold 9,485 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $4,308,795. This represents a 41.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Raymond Joabar sold 15,179 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

American Express Price Performance

American Express stock opened at $284.20 on Thursday. The stock has a market cap of $199.66 billion, a price-to-earnings ratio of 20.29, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57. American Express has a 1 year low of $214.51 and a 1 year high of $326.27. The firm has a 50-day moving average of $306.57 and a two-hundred day moving average of $287.59.

American Express (NYSE:AXP) last released its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 earnings per share (EPS) for the quarter, beating the consensus estimate 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, research analysts forecast that American Express will post 15.33 earnings per share for the current year.

American Express Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Friday, April 4th. This is a boost from American Express’s previous quarterly dividend of $0.70. American Express’s dividend payout ratio is presently 23.41%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AXP. Truist Financial began coverage on shares of American Express in a report on Tuesday, January 7th. They issued a “buy” rating and a $350.00 price target on the stock. Monness Crespi & Hardt lifted their price target on shares of American Express from $330.00 to $355.00 and gave the company a “buy” rating in a report on Monday, January 27th. Citigroup lifted their price target on shares of American Express from $305.00 to $320.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Morgan Stanley boosted their target price on shares of American Express from $305.00 to $310.00 and gave the stock an “equal weight” rating in a report on Monday, January 27th. Finally, Wells Fargo & Company boosted their target price on shares of American Express from $355.00 to $370.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, American Express has an average rating of “Hold” and a consensus target price of $296.38.

American Express Company 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.