Confluence Investment Management buys $31,395,584 stake in American Express Company (AXP)

American Express Company (AXP) : Confluence Investment Management scooped up 50,965 additional shares in American Express Company during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 26, 2016. The investment management firm now holds a total of 486,075 shares of American Express Company which is valued at $31,395,584.American Express Company makes up approximately 0.84% of Confluence Investment Management’s portfolio.

Other Hedge Funds, Including , Macguire Cheswick Tuttle Investment Counsel reduced its stake in AXP by selling 150 shares or 3.41% in the most recent quarter. The Hedge Fund company now holds 4,244 shares of AXP which is valued at $272,804. American Express Company makes up approx 0.06% of Macguire Cheswick Tuttle Investment Counsel’s portfolio.Eastern Bank reduced its stake in AXP by selling 1,389 shares or 14.39% in the most recent quarter. The Hedge Fund company now holds 8,264 shares of AXP which is valued at $528,813. American Express Company makes up approx 0.04% of Eastern Bank’s portfolio.Founders Capital Management boosted its stake in AXP in the latest quarter, The investment management firm added 1,154 additional shares and now holds a total of 41,949 shares of American Express Company which is valued at $2,684,317. American Express Company makes up approx 1.47% of Founders Capital Management’s portfolio.Lodestar Investment Counselil reduced its stake in AXP by selling 2,675 shares or 4.66% in the most recent quarter. The Hedge Fund company now holds 54,707 shares of AXP which is valued at $3,500,701. American Express Company makes up approx 0.48% of Lodestar Investment Counselil’s portfolio.

American Express Company closed down -0.33 points or -0.51% at $64.46 with 37,32,749 shares getting traded on Friday. Post opening the session at $64.7, the shares hit an intraday low of $64.17 and an intraday high of $64.74 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, American Express Company reported $2.10 EPS for the quarter, beating the analyst consensus estimate by $ 0.36 according to the earnings call on Jul 20, 2016. Analyst had a consensus of $1.74. The company had revenue of $8235.00 million for the quarter, compared to analysts expectations of $8341.60 million. The company’s revenue was down -.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.42 EPS.

American Express Company is a global services company. The Company’s principal products and services are charge and credit payment card products and travel-related services offered to consumers and businesses around the world. The Company’s segments include U.S. Card Services International Card Services Global Commercial Services and Global Network & Merchant Services. The Company’s United States banking subsidiaries Centurion Bank and AEBFSB issue a range of Card products and services. It also issues its charge and credit Cards around the world either on its own or as cobrands with partnering institutions. The Company provides expense management and travel services to companies and organizations through its Global Corporate Payments and Global Business Travel businesses. The Global Network & Merchant Services (GNMS) segment operates a global payments network that processes and settles card transactions.

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