Confluence Investment Management LLC Has $49.20 Million Stake in American Express Company (AXP)

Confluence Investment Management LLC cut its position in American Express Company (NYSE:AXP) by 6.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 495,399 shares of the payment services company’s stock after selling 35,043 shares during the quarter. Confluence Investment Management LLC owned 0.06% of American Express worth $49,198,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in AXP. Farmers & Merchants Trust Co of Chambersburg PA raised its holdings in American Express by 30.4% in the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock valued at $109,000 after acquiring an additional 300 shares in the last quarter. Capital Analysts LLC acquired a new stake in American Express in the second quarter valued at $115,000. Zions Bancorporation raised its holdings in American Express by 912.9% in the third quarter. Zions Bancorporation now owns 1,337 shares of the payment services company’s stock valued at $121,000 after acquiring an additional 1,205 shares in the last quarter. MV Capital Management Inc. raised its holdings in American Express by 3.5% in the second quarter. MV Capital Management Inc. now owns 1,448 shares of the payment services company’s stock valued at $122,000 after acquiring an additional 49 shares in the last quarter. Finally, Westside Investment Management Inc. raised its holdings in American Express by 0.5% in the second quarter. Westside Investment Management Inc. now owns 1,536 shares of the payment services company’s stock valued at $129,000 after acquiring an additional 8 shares in the last quarter. Institutional investors and hedge funds own 83.35% of the company’s stock.

AXP has been the topic of several recent analyst reports. Credit Suisse Group reaffirmed a “sell” rating and issued a $79.00 price target on shares of American Express in a report on Wednesday, October 4th. Atlantic Securities raised shares of American Express from an “underweight” rating to a “neutral” rating and set a $100.00 target price on the stock in a report on Tuesday, October 24th. Zacks Investment Research raised shares of American Express from a “hold” rating to a “buy” rating and set a $107.00 target price on the stock in a report on Wednesday, November 1st. Wells Fargo & Co assumed coverage on shares of American Express in a report on Tuesday, October 10th. They set an “outperform” rating and a $105.00 target price on the stock. Finally, Bank of America set a $128.00 target price on shares of American Express and gave the stock a “buy” rating in a report on Monday, December 18th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $98.96.

American Express Company (AXP) opened at $100.97 on Friday. The company has a market cap of $87,433.27, a PE ratio of 19.45, a PEG ratio of 1.45 and a beta of 1.22. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 2.31. American Express Company has a 12-month low of $75.39 and a 12-month high of $101.65.

American Express (NYSE:AXP) last released its quarterly earnings results on Wednesday, October 18th. The payment services company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.47 by $0.03. The business had revenue of $8.44 billion during the quarter, compared to analyst estimates of $8.31 billion. American Express had a net margin of 14.48% and a return on equity of 22.73%. The company’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.24 earnings per share. research analysts expect that American Express Company will post 5.85 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 5th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $1.40 annualized dividend and a dividend yield of 1.39%. American Express’s dividend payout ratio is currently 26.97%.

In related news, insider James Peter Bush sold 12,789 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $99.45, for a total value of $1,271,866.05. Following the completion of the transaction, the insider now owns 92,504 shares in the company, valued at approximately $9,199,522.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anre D. Williams sold 30,761 shares of the stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $93.41, for a total transaction of $2,873,385.01. Following the completion of the transaction, the insider now owns 28,720 shares of the company’s stock, valued at approximately $2,682,735.20. The disclosure for this sale can be found here. Insiders have sold 442,869 shares of company stock valued at $42,823,869 in the last 90 days. Insiders own 0.67% of the company’s stock.

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American Express Company Profile

American Express Company, together with its subsidiaries, is a global services company. The Company’s principal products and services are charge and credit card products, and travel-related services, which are offered to consumers and businesses around the world. Its segments include the U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).

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

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