Confluence Wealth Services Inc. Raises Stock Position in American Express Company (NYSE:AXP)

Confluence Wealth Services Inc. raised its stake in shares of American Express Company (NYSE:AXP - Free Report) by 56.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,213 shares of the payment services company's stock after purchasing an additional 2,601 shares during the period. Confluence Wealth Services Inc.'s holdings in American Express were worth $1,876,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AXP. Highland Capital Management LLC boosted its holdings in American Express by 19.0% in the 1st quarter. Highland Capital Management LLC now owns 36,855 shares of the payment services company's stock worth $9,916,000 after buying an additional 5,888 shares during the last quarter. BSW Wealth Partners lifted its position in shares of American Express by 4.6% in the first quarter. BSW Wealth Partners now owns 4,028 shares of the payment services company's stock valued at $1,084,000 after acquiring an additional 178 shares in the last quarter. 3Chopt Investment Partners LLC acquired a new stake in shares of American Express in the first quarter worth approximately $1,746,000. Kessler Investment Group LLC purchased a new stake in shares of American Express during the first quarter worth approximately $308,000. Finally, U S Global Investors Inc. raised its stake in American Express by 17.9% in the 1st quarter. U S Global Investors Inc. now owns 5,305 shares of the payment services company's stock valued at $1,427,000 after purchasing an additional 805 shares during the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Price Performance

Shares of AXP opened at $317.48 on Friday. The firm has a market capitalization of $222.43 billion, a price-to-earnings ratio of 22.17, a PEG ratio of 1.52 and a beta of 1.25. The firm's fifty day simple moving average is $288.89 and its 200-day simple moving average is $289.05. American Express Company has a twelve month low of $220.43 and a twelve month high of $326.28. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64.

American Express (NYSE:AXP - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The payment services company reported $3.64 earnings per share for the quarter, beating analysts' consensus estimates of $3.47 by $0.17. The company had revenue of $16.97 billion for the quarter, compared to analysts' expectations of $17.04 billion. American Express had a return on equity of 32.48% and a net margin of 15.31%. During the same period last year, the firm earned $3.33 earnings per share. Equities analysts forecast that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 1.03%. The ex-dividend date is Thursday, July 3rd. American Express's payout ratio is currently 22.91%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AXP. William Blair reiterated an "outperform" rating on shares of American Express in a research report on Monday, April 21st. Baird R W upgraded shares of American Express from a "strong sell" rating to a "hold" rating in a report on Friday, March 14th. JPMorgan Chase & Co. boosted their target price on American Express from $244.00 to $260.00 and gave the stock a "neutral" rating in a report on Monday, April 21st. Monness Crespi & Hardt upped their price target on American Express from $275.00 to $285.00 and gave the company a "buy" rating in a research report on Monday, April 21st. Finally, BTIG Research reduced their price objective on American Express from $272.00 to $240.00 and set a "sell" rating on the stock in a research report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, American Express presently has an average rating of "Hold" and a consensus price target of $296.05.

Insiders Place Their Bets

In other American Express news, insider Glenda G. Mcneal sold 3,019 shares of the company's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $264.66, for a total transaction of $799,008.54. Following the completion of the transaction, the insider now owns 10,919 shares in the company, valued at approximately $2,889,822.54. This represents a 21.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Howard Grosfield sold 9,450 shares of American Express stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $275.50, for a total transaction of $2,603,475.00. Following the completion of the sale, the insider now directly owns 9,402 shares in the company, valued at approximately $2,590,251. The trade was a 50.13% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by insiders.

About American Express

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.

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