Rockefeller Capital Management L.P. Sells 123,808 Shares of American Express (NYSE:AXP)

Rockefeller Capital Management L.P. reduced its stake in American Express (NYSE:AXP - Free Report) by 22.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 421,797 shares of the payment services company's stock after selling 123,808 shares during the period. Rockefeller Capital Management L.P. owned about 0.06% of American Express worth $125,098,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AXP. Sellwood Investment Partners LLC bought a new stake in American Express during the 4th quarter valued at $33,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of American Express during the fourth quarter worth about $33,000. Curio Wealth LLC bought a new stake in shares of American Express in the fourth quarter worth about $37,000. Financial Life Planners purchased a new position in American Express during the 4th quarter valued at about $38,000. Finally, Sierra Ocean LLC bought a new position in American Express during the 4th quarter valued at approximately $40,000. Institutional investors own 84.33% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AXP. Morgan Stanley lifted their price objective on American Express from $305.00 to $310.00 and gave the stock an "equal weight" rating in a research report on Monday, January 27th. Monness Crespi & Hardt lifted their price target on shares of American Express from $330.00 to $355.00 and gave the company a "buy" rating in a report on Monday, January 27th. Keefe, Bruyette & Woods upped their price objective on shares of American Express from $350.00 to $360.00 and gave the stock an "outperform" rating in a report on Monday, January 27th. Wells Fargo & Company lifted their target price on shares of American Express from $355.00 to $370.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Finally, Argus cut shares of American Express from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 14th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, American Express has an average rating of "Hold" and an average price target of $296.81.

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American Express Stock Up 1.0 %

Shares of NYSE AXP traded up $2.49 during midday trading on Tuesday, hitting $257.87. The stock had a trading volume of 3,507,721 shares, compared to its average volume of 2,883,837. The business's 50 day moving average is $277.72 and its 200-day moving average is $288.30. American Express has a 52 week low of $216.51 and a 52 week high of $326.28. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. The company has a market cap of $181.16 billion, a P/E ratio of 18.41, a PEG ratio of 1.41 and a beta of 1.16.

American Express (NYSE:AXP - Get Free Report) last released its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.00 by $0.04. American Express had a return on equity of 32.65% and a net margin of 15.36%. As a group, analysts predict that American Express will post 15.33 EPS for the current year.

American Express Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 4th will be given a dividend of $0.82 per share. The ex-dividend date is Friday, April 4th. This is a boost from American Express's previous quarterly dividend of $0.70. This represents a $3.28 annualized dividend and a dividend yield of 1.27%. American Express's dividend payout ratio (DPR) is 23.41%.

Insider Buying and Selling

In related news, insider Raymond Joabar sold 15,179 shares of the firm's stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $313.94, for a total value of $4,765,295.26. Following the sale, the insider now owns 23,866 shares in the company, valued at approximately $7,492,492.04. This trade represents a 38.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael J. Angelakis bought 3,700 shares of the business's stock in a transaction on Friday, March 7th. The stock was bought at an average cost of $269.89 per share, with a total value of $998,593.00. Following the transaction, the director now owns 3,700 shares in the company, valued at $998,593. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.20% of the stock is owned by corporate insiders.

American Express 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.