American Express (NYSE:AXP) Shares Sold by Equity Investment Corp

Equity Investment Corp decreased its stake in American Express (NYSE:AXP) by 29.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 346,419 shares of the payment services company’s stock after selling 144,522 shares during the period. American Express makes up 2.0% of Equity Investment Corp’s investment portfolio, making the stock its 28th largest holding. Equity Investment Corp’s holdings in American Express were worth $78,876,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Scarborough Advisors LLC acquired a new position in American Express during the fourth quarter worth about $25,000. BKM Wealth Management LLC acquired a new position in American Express during the fourth quarter worth about $28,000. Tennessee Valley Asset Management Partners acquired a new position in American Express during the fourth quarter worth about $28,000. Pacifica Partners Inc. acquired a new position in American Express during the fourth quarter worth about $29,000. Finally, Baldwin Brothers LLC MA raised its position in American Express by 134.8% during the fourth quarter. Baldwin Brothers LLC MA now owns 155 shares of the payment services company’s stock worth $29,000 after acquiring an additional 89 shares during the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on AXP shares. Citigroup started coverage on shares of American Express in a report on Monday, June 10th. They set a “neutral” rating and a $250.00 price target for the company. Robert W. Baird lifted their price target 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. BMO Capital Markets lifted their price target on shares of American Express from $167.00 to $175.00 and gave the stock an “underperform” rating in a report on Monday, April 22nd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of American Express from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Finally, Barclays lifted their price target on shares of American Express from $221.00 to $223.00 and gave the stock an “equal weight” rating in a report on Tuesday. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $225.50.

American Express Stock Down 0.1 %

Shares of NYSE AXP traded down $0.12 during trading on Friday, reaching $238.63. 2,612,283 shares of the stock were exchanged, compared to its average volume of 2,356,622. The business’s 50-day moving average price is $234.97 and its 200 day moving average price is $219.65. American Express has a twelve month low of $140.91 and a twelve month high of $244.41. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.70. The company has a market capitalization of $171.65 billion, a price-to-earnings ratio of 19.66, a price-to-earnings-growth ratio of 1.36 and a beta of 1.21.

American Express (NYSE:AXP) last posted its earnings results on Friday, April 19th. The payment services company reported $3.33 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.36. The business had revenue of $15.80 billion for the quarter, compared to analysts’ expectations of $15.79 billion. American Express had a net margin of 14.50% and a return on equity of 32.46%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.40 earnings per share. As a group, equities analysts forecast that American Express will post 12.98 EPS for the current fiscal year.

American Express Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, July 5th. This is a boost from American Express’s previous quarterly dividend of $0.10. This represents a $2.80 annualized dividend and a yield of 1.17%. American Express’s dividend payout ratio is currently 23.06%.

Insider Activity at American Express

In related news, CEO Stephen J. Squeri sold 38,873 shares of the company’s 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 sale, the chief executive officer now directly 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 is available at this hyperlink. In other American Express news, CEO Stephen J. Squeri sold 38,873 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 76,310 shares of the company’s stock, valued at $18,209,855.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Douglas E. Buckminster sold 117,309 shares of the 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 sale, the insider now directly owns 110,318 shares in the company, valued at $25,642,315.92. The disclosure for this sale can be found here. Insiders have sold 177,717 shares of company stock valued at $41,680,999 over the last ninety days. Corporate insiders own 0.12% of the company’s stock.

American Express Company Profile

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.