Equity Investment Corp Has $110.93 Million Position in American Express (AXP)

Equity Investment Corp cut its holdings in American Express (NYSE:AXP) by 4.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,041,700 shares of the payment services company’s stock after selling 48,530 shares during the period. American Express accounts for 3.6% of Equity Investment Corp’s holdings, making the stock its 5th biggest holding. Equity Investment Corp owned 0.12% of American Express worth $110,931,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. BancorpSouth Bank raised its holdings in shares of American Express by 2.1% during the 3rd quarter. BancorpSouth Bank now owns 24,119 shares of the payment services company’s stock worth $2,569,000 after acquiring an additional 490 shares in the last quarter. Titus Wealth Management raised its holdings in shares of American Express by 22.5% during the 2nd quarter. Titus Wealth Management now owns 2,722 shares of the payment services company’s stock worth $267,000 after acquiring an additional 500 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of American Express by 5.8% during the 2nd quarter. Parallel Advisors LLC now owns 9,441 shares of the payment services company’s stock worth $925,000 after acquiring an additional 516 shares in the last quarter. Legacy Advisors LLC raised its holdings in shares of American Express by 25.6% during the 2nd quarter. Legacy Advisors LLC now owns 2,606 shares of the payment services company’s stock worth $255,000 after acquiring an additional 531 shares in the last quarter. Finally, Buckingham Asset Management LLC raised its holdings in shares of American Express by 8.2% during the 3rd quarter. Buckingham Asset Management LLC now owns 7,810 shares of the payment services company’s stock worth $832,000 after acquiring an additional 589 shares in the last quarter. 82.98% of the stock is currently owned by institutional investors.

In other news, major shareholder Ventures Fund Vii L.P. Vivo bought 20,142,123 shares of the stock in a transaction on Thursday, August 30th. The stock was acquired at an average cost of $0.17 per share, for a total transaction of $3,424,160.91. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Scott Murcray bought 350,000 shares of the stock in a transaction on Monday, September 3rd. The stock was purchased at an average price of $0.28 per share, with a total value of $98,000.00. The disclosure for this purchase can be found here. Corporate insiders own 0.20% of the company’s stock.

AXP has been the topic of several analyst reports. Jefferies Financial Group reissued a “hold” rating and set a $105.00 target price on shares of American Express in a research report on Monday, July 16th. BMO Capital Markets boosted their target price on American Express from $103.00 to $106.00 and gave the company a “market perform” rating in a research report on Thursday, July 19th. Oppenheimer set a $113.00 target price on American Express and gave the company a “buy” rating in a research report on Wednesday, July 18th. Royal Bank of Canada reissued a “sell” rating and set a $87.00 target price on shares of American Express in a research report on Thursday, July 19th. Finally, UBS Group raised American Express from a “hold” rating to a “buy” rating in a research report on Friday, July 20th. One analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $112.70.

Shares of American Express stock opened at $108.50 on Friday. The firm has a market capitalization of $89.68 billion, a price-to-earnings ratio of 14.66, a price-to-earnings-growth ratio of 1.42 and a beta of 1.06. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.88 and a current ratio of 1.88. American Express has a 52 week low of $87.54 and a 52 week high of $111.77.

American Express (NYSE:AXP) last announced its quarterly earnings data on Thursday, October 18th. The payment services company reported $1.88 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.77 by $0.11. The company had revenue of $10.14 billion for the quarter, compared to the consensus estimate of $10.06 billion. American Express had a return on equity of 31.26% and a net margin of 9.51%. American Express’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.50 EPS. On average, equities analysts expect that American Express will post 7.38 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 9th. Shareholders of record on Friday, October 5th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 1.44%. The ex-dividend date is Thursday, October 4th. This is an increase from American Express’s previous quarterly dividend of $0.35. American Express’s dividend payout ratio is 26.58%.

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American Express Company Profile

American Express Company, together with its subsidiaries, provides charge and credit payment card products and travel-related services to consumers and businesses worldwide. It operates through four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.

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

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