Federated Hermes Inc. Sells 21,351 Shares of American Express Company $AXP

Federated Hermes Inc. reduced its position in shares of American Express Company (NYSE:AXP) by 9.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 210,564 shares of the payment services company’s stock after selling 21,351 shares during the period. Federated Hermes Inc.’s holdings in American Express were worth $67,166,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC increased its stake in American Express by 24.4% in the 4th quarter. Brighton Jones LLC now owns 6,481 shares of the payment services company’s stock worth $1,924,000 after acquiring an additional 1,273 shares during the last quarter. AlphaCore Capital LLC boosted its position in shares of American Express by 24.6% during the 1st quarter. AlphaCore Capital LLC now owns 1,177 shares of the payment services company’s stock valued at $317,000 after acquiring an additional 232 shares during the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of American Express during the first quarter worth about $523,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of American Express during the first quarter worth about $26,069,000. Finally, Koss Olinger Consulting LLC bought a new position in shares of American Express in the first quarter worth approximately $404,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Stock Down 0.2%

NYSE AXP opened at $370.39 on Monday. American Express Company has a 1 year low of $220.43 and a 1 year high of $377.23. The stock has a market capitalization of $255.14 billion, a PE ratio of 24.86, a PEG ratio of 1.67 and a beta of 1.14. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.61 and a quick ratio of 1.59. The business’s 50-day moving average is $350.69 and its 200 day moving average is $325.60.

American Express (NYSE:AXP) last released its quarterly earnings data on Friday, October 17th. The payment services company reported $4.14 earnings per share for the quarter, topping the consensus estimate of $3.98 by $0.16. The business had revenue of $17.14 billion during the quarter, compared to analysts’ expectations of $18.03 billion. American Express had a return on equity of 33.41% and a net margin of 14.97%.The business’s revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the business posted $3.49 EPS. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. Sell-side analysts forecast that American Express Company will post 15.33 earnings per share for the current year.

American Express Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 10th. Investors of record on Friday, October 10th were paid a $0.82 dividend. The ex-dividend date of this dividend was Friday, October 10th. This represents a $3.28 dividend on an annualized basis and a yield of 0.9%. American Express’s dividend payout ratio (DPR) is presently 22.01%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of American Express from $311.00 to $362.00 and gave the company an “equal weight” rating in a research report on Monday, September 29th. Wells Fargo & Company raised their price objective on shares of American Express from $375.00 to $400.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Evercore ISI lifted their price objective on shares of American Express from $330.00 to $365.00 and gave the stock an “in-line” rating in a report on Tuesday, September 30th. Truist Financial upped their target price on shares of American Express from $375.00 to $395.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. Finally, DZ Bank raised American Express from a “sell” rating to a “hold” rating and set a $340.00 target price on the stock in a research note on Tuesday, October 21st. Nine equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $332.65.

Insider Activity at American Express

In other news, CMO Elizabeth Rutledge sold 50,000 shares of American Express stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $360.21, for a total transaction of $18,010,500.00. Following the sale, the chief marketing officer owned 85,577 shares of the company’s stock, valued at approximately $30,825,691.17. The trade was a 36.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Denise Pickett sold 5,000 shares of the business’s stock in a transaction dated Wednesday, October 22nd. The shares were sold at an average price of $350.73, for a total transaction of $1,753,650.00. Following the transaction, the insider owned 7,726 shares in the company, valued at $2,709,739.98. This represents a 39.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 57,515 shares of company stock worth $20,658,509 over the last quarter. Corporate insiders own 0.20% of the company’s stock.

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.