Confluence Investment Management LLC Invests $548,000 in American Express (NYSE:AXP)

Confluence Investment Management LLC purchased a new position in shares of American Express (NYSE:AXP) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,405 shares of the payment services company’s stock, valued at approximately $548,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Venture Visionary Partners LLC grew its stake in American Express by 0.3% in the 4th quarter. Venture Visionary Partners LLC now owns 23,211 shares of the payment services company’s stock valued at $4,349,000 after acquiring an additional 65 shares during the last quarter. Global Wealth Management Investment Advisory Inc. grew its stake in American Express by 5.5% in the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 11,587 shares of the payment services company’s stock valued at $2,171,000 after acquiring an additional 609 shares during the last quarter. Cerity Partners LLC grew its stake in American Express by 417.3% in the 4th quarter. Cerity Partners LLC now owns 415,696 shares of the payment services company’s stock valued at $77,876,000 after acquiring an additional 335,338 shares during the last quarter. Cullen Investment Group LTD. acquired a new stake in American Express in the 4th quarter valued at about $2,460,000. Finally, J.W. Cole Advisors Inc. grew its stake in American Express by 35.6% in the 4th quarter. J.W. Cole Advisors Inc. now owns 9,806 shares of the payment services company’s stock valued at $1,837,000 after acquiring an additional 2,572 shares during the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at American Express

In other news, CEO Stephen J. Squeri sold 38,873 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $238.63, for a total transaction of $9,276,263.99. Following the completion of the sale, the chief executive officer now owns 76,310 shares of the company’s stock, valued at $18,209,855.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other American Express news, CEO Stephen J. Squeri sold 38,873 shares of American Express stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $238.63, for a total value of $9,276,263.99. Following the completion of the transaction, the chief executive officer now owns 76,310 shares of the company’s stock, valued at $18,209,855.30. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Vice Chairman Douglas E. Buckminster sold 117,309 shares of American Express stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $232.44, for a total transaction of $27,267,303.96. Following the completion of the transaction, the insider now directly owns 110,318 shares of the company’s stock, valued at approximately $25,642,315.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 177,717 shares of company stock valued at $41,680,999. 0.11% of the stock is currently owned by corporate insiders.

American Express Stock Up 0.0 %

NYSE:AXP traded up $0.11 during trading hours on Tuesday, hitting $228.38. The stock had a trading volume of 713,458 shares, compared to its average volume of 3,031,720. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.70. American Express has a 1-year low of $140.91 and a 1-year high of $244.41. The business has a 50 day simple moving average of $232.79 and a two-hundred day simple moving average of $212.63. The company has a market cap of $164.27 billion, a PE ratio of 18.81, a price-to-earnings-growth ratio of 1.28 and a beta of 1.22.

American Express (NYSE:AXPGet Free Report) last issued its quarterly earnings data on Friday, April 19th. The payment services company reported $3.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.36. American Express had a net margin of 14.50% and a return on equity of 32.46%. The company had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $15.79 billion. During the same quarter last year, the company earned $2.40 earnings per share. American Express’s revenue for the quarter was up 10.6% on a year-over-year basis. Analysts predict that American Express will post 13.01 EPS for the current year.

American Express Increases Dividend

The business also recently declared 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. The ex-dividend date is Friday, July 5th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.23%. This is an increase from American Express’s previous quarterly dividend of $0.10. American Express’s dividend payout ratio (DPR) is presently 23.06%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Monness Crespi & Hardt raised shares of American Express from a “neutral” rating to a “buy” rating and set a $245.00 price target on the stock in a research note on Friday, April 5th. BTIG Research started coverage on shares of American Express in a research note on Friday, June 7th. They set a “neutral” rating on the stock. Wells Fargo & Company increased their price objective on shares of American Express from $265.00 to $275.00 and gave the stock an “overweight” rating in a report on Tuesday, June 4th. Robert W. Baird increased their price objective on shares of American Express from $190.00 to $205.00 and gave the stock an “underperform” rating in a report on Wednesday, May 1st. Finally, Evercore ISI increased their price objective on shares of American Express from $243.00 to $255.00 and gave the stock an “in-line” rating in a report on Wednesday, April 24th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $220.30.

Read Our Latest Analysis on American Express

American Express Company Profile

(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.

Further Reading

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

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