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

Confluence Investment Management LLC reduced its stake in shares of American Express (NYSE:AXP) by 6.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 495,399 shares of the payment services company’s stock after selling 35,043 shares during the period. Confluence Investment Management LLC owned about 0.06% of American Express worth $49,198,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of American Express by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 50,233,957 shares of the payment services company’s stock worth $4,231,710,000 after buying an additional 731,428 shares during the last quarter. BlackRock Inc. boosted its stake in shares of American Express by 1.1% in the 2nd quarter. BlackRock Inc. now owns 44,685,897 shares of the payment services company’s stock worth $3,764,339,000 after buying an additional 508,030 shares during the last quarter. First Eagle Investment Management LLC boosted its stake in shares of American Express by 0.6% in the 2nd quarter. First Eagle Investment Management LLC now owns 16,342,822 shares of the payment services company’s stock worth $1,376,719,000 after buying an additional 103,546 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of American Express by 2.7% in the 3rd quarter. Fisher Asset Management LLC now owns 11,547,390 shares of the payment services company’s stock worth $1,044,577,000 after buying an additional 300,042 shares during the last quarter. Finally, Veritas Asset Management LLP boosted its stake in shares of American Express by 7.1% in the 3rd quarter. Veritas Asset Management LLP now owns 11,039,153 shares of the payment services company’s stock worth $998,602,000 after buying an additional 735,952 shares during the last quarter. 83.57% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have recently weighed in on AXP. Bank of America boosted their target price on American Express from $102.00 to $106.00 and gave the stock a “buy” rating in a research note on Thursday, October 19th. Jefferies Group restated an “in-line” rating and issued a $93.00 target price (up previously from $85.00) on shares of American Express in a research note on Thursday, October 19th. Zacks Investment Research upgraded American Express from a “hold” rating to a “buy” rating and set a $107.00 target price on the stock in a research note on Wednesday, November 1st. Morgan Stanley upped their price objective on American Express from $108.00 to $109.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, Wells Fargo & Co assumed coverage on American Express in a research note on Tuesday, October 10th. They issued an “outperform” rating and a $105.00 price objective on the stock. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have given a buy rating to the company’s stock. American Express has a consensus rating of “Hold” and an average price target of $101.56.

American Express (NYSE AXP) traded down $3.32 during trading on Friday, hitting $96.68. 4,578,750 shares of the stock traded hands, compared to its average volume of 3,500,000. The company has a market capitalization of $83,920.00, a PE ratio of 32.33, a P/E/G ratio of 1.32 and a beta of 1.19. American Express has a 52-week low of $75.51 and a 52-week high of $102.39. The company has a current ratio of 2.37, a quick ratio of 1.90 and a debt-to-equity ratio of 3.11.

American Express (NYSE:AXP) last released its quarterly earnings results on Thursday, January 18th. The payment services company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.04. The firm had revenue of $8.84 billion for the quarter, compared to analysts’ expectations of $8.73 billion. American Express had a net margin of 8.08% and a return on equity of 26.07%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.91 earnings per share. equities research analysts forecast that American Express will post 7.15 EPS for the current 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 issued a $0.35 dividend. The ex-dividend date is Thursday, January 4th. This represents a $1.40 annualized dividend and a dividend yield of 1.45%. American Express’s payout ratio is currently 46.82%.

In related news, insider James Peter Bush sold 12,789 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $99.45, for a total value of $1,271,866.05. Following the transaction, the insider now owns 92,504 shares of the company’s stock, valued at $9,199,522.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Susan Sobbott sold 5,500 shares of the stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $94.34, for a total value of $518,870.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 318,254 shares of company stock worth $31,059,302. 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).

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

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