Rockefeller Capital Management L.P. Buys Shares of 40,000 American Express (AXP)

Rockefeller Capital Management L.P. bought a new stake in shares of American Express (NYSE:AXP) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 40,000 shares of the payment services company’s stock, valued at approximately $3,731,000.

Several other hedge funds have also modified their holdings of the company. Greatmark Investment Partners Inc. grew its position in shares of American Express by 0.6% during the 1st quarter. Greatmark Investment Partners Inc. now owns 83,984 shares of the payment services company’s stock valued at $7,834,000 after acquiring an additional 526 shares during the period. Comerica Securities Inc. grew its position in shares of American Express by 12.6% during the 1st quarter. Comerica Securities Inc. now owns 4,756 shares of the payment services company’s stock valued at $444,000 after acquiring an additional 531 shares during the period. Laurel Wealth Advisors Inc. grew its position in shares of American Express by 12.5% during the 4th quarter. Laurel Wealth Advisors Inc. now owns 4,918 shares of the payment services company’s stock valued at $488,000 after acquiring an additional 546 shares during the period. Allen Capital Group LLC grew its position in shares of American Express by 10.1% during the 1st quarter. Allen Capital Group LLC now owns 6,050 shares of the payment services company’s stock valued at $564,000 after acquiring an additional 556 shares during the period. Finally, Braun Stacey Associates Inc. grew its position in shares of American Express by 12.3% during the 4th quarter. Braun Stacey Associates Inc. now owns 5,250 shares of the payment services company’s stock valued at $521,000 after acquiring an additional 575 shares during the period. 82.98% of the stock is owned by hedge funds and other institutional investors.

In other American Express news, Vice Chairman Stephen J. Squeri sold 12,500 shares of the stock in a transaction dated Tuesday, May 1st. The shares were sold at an average price of $98.05, for a total transaction of $1,225,625.00. Following the completion of the transaction, the insider now owns 203,920 shares of the company’s stock, valued at approximately $19,994,356. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider L Kevin Cox sold 33,777 shares of the stock in a transaction dated Thursday, April 19th. The shares were sold at an average price of $100.54, for a total transaction of $3,395,939.58. Following the transaction, the insider now directly owns 19,249 shares of the company’s stock, valued at approximately $1,935,294.46. The disclosure for this sale can be found here. Insiders have sold a total of 58,252 shares of company stock valued at $5,800,027 in the last three months. Insiders own 0.20% of the company’s stock.

A number of equities research analysts have recently issued reports on AXP shares. TheStreet raised shares of American Express from a “c+” rating to a “b+” rating in a research report on Wednesday, April 18th. UBS started coverage on shares of American Express in a research report on Tuesday, March 27th. They set a “buy” rating and a $111.00 price objective for the company. Sandler O’Neill set a $109.00 price objective on shares of American Express and gave the company a “buy” rating in a research report on Thursday, March 15th. Oppenheimer set a $117.00 price objective on shares of American Express and gave the company a “buy” rating in a research report on Tuesday, March 13th. Finally, Instinet boosted their price objective on shares of American Express from $91.72 to $108.00 and gave the company a “buy” rating in a research report on Monday, February 12th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $107.45.

American Express opened at $102.04 on Tuesday, according to MarketBeat Ratings. American Express has a 52 week low of $75.98 and a 52 week high of $102.96. The stock has a market cap of $86.89 billion, a price-to-earnings ratio of 17.38, a P/E/G ratio of 1.36 and a beta of 1.13. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 2.67.

American Express (NYSE:AXP) last released its quarterly earnings data on Wednesday, April 18th. The payment services company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.71 by $0.15. American Express had a net margin of 8.79% and a return on equity of 28.41%. The business had revenue of $9.72 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the prior year, the firm earned $1.34 EPS. The business’s revenue was up 11.6% on a year-over-year basis. sell-side analysts forecast that American Express will post 7.23 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 10th. Shareholders of record on Friday, July 6th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Thursday, July 5th. American Express’s dividend payout ratio (DPR) is presently 23.85%.

About American Express

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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