Federated Hermes Inc. Buys 67,770 Shares of American Express Company $AXP

Federated Hermes Inc. grew its stake in American Express Company (NYSE:AXP) by 32.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 278,334 shares of the payment services company’s stock after purchasing an additional 67,770 shares during the period. Federated Hermes Inc.’s holdings in American Express were worth $92,451,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of AXP. Norges Bank bought a new position in American Express during the second quarter valued at $1,897,335,000. Laurel Wealth Advisors LLC boosted its stake in shares of American Express by 31,595.9% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,742,009 shares of the payment services company’s stock worth $555,666,000 after purchasing an additional 1,736,513 shares during the period. Geode Capital Management LLC grew its holdings in American Express by 11.1% during the 2nd quarter. Geode Capital Management LLC now owns 13,487,316 shares of the payment services company’s stock valued at $4,282,984,000 after purchasing an additional 1,349,746 shares during the last quarter. Ameriprise Financial Inc. raised its position in American Express by 26.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,125,133 shares of the payment services company’s stock worth $988,676,000 after purchasing an additional 646,039 shares during the period. Finally, Provident Trust Co. boosted its position in shares of American Express by 136.6% during the second quarter. Provident Trust Co. now owns 1,108,971 shares of the payment services company’s stock valued at $353,740,000 after buying an additional 640,214 shares during the period. Institutional investors own 84.33% of the company’s stock.

American Express Stock Performance

AXP stock opened at $356.89 on Thursday. American Express Company has a 1-year low of $220.43 and a 1-year high of $387.49. The business has a 50-day moving average price of $369.10 and a 200 day moving average price of $343.29. The company has a market capitalization of $245.84 billion, a P/E ratio of 23.95, a PEG ratio of 1.51 and a beta of 1.15. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.61 and a quick ratio of 1.59.

American Express (NYSE:AXP) last posted its earnings results on Friday, January 30th. The payment services company reported ($11.85) EPS for the quarter, missing analysts’ consensus estimates of $3.56 by ($15.41). American Express had a net margin of 14.97% and a return on equity of 33.41%. The business had revenue of ($17,139.00) million for the quarter, compared to analysts’ expectations of $18.91 billion. As a group, equities research analysts forecast that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 10th. Stockholders of record on Friday, January 2nd will be issued a $0.82 dividend. The ex-dividend date is Friday, January 2nd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.9%. American Express’s dividend payout ratio (DPR) is currently 22.01%.

Insider Activity at American Express

In related news, CMO Elizabeth Rutledge sold 50,000 shares of the company’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $360.21, for a total transaction of $18,010,500.00. Following the completion of the sale, the chief marketing officer directly owned 85,577 shares in the company, valued at $30,825,691.17. This represents a 36.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

AXP has been the topic of several recent analyst reports. TD Cowen reiterated a “hold” rating on shares of American Express in a report on Thursday, January 8th. Weiss Ratings upgraded American Express from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. UBS Group set a $385.00 target price on shares of American Express in a research note on Monday, January 12th. JPMorgan Chase & Co. upped their price target on shares of American Express from $360.00 to $385.00 and gave the stock a “neutral” rating in a report on Monday, January 12th. Finally, Evercore ISI set a $400.00 price objective on shares of American Express in a report on Tuesday, January 6th. Nine equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, American Express has a consensus rating of “Hold” and a consensus target price of $353.95.

American Express Profile

American Express is a global financial services company primarily known for its payment card products, travel services and merchant network. Founded in 1850 as an express mail business, the company evolved through the 20th century into a payments and travel-focused organization. Its core activities include issuing consumer and commercial charge and credit cards, operating a global card acceptance and processing network, and providing travel-related services and customer loyalty programs.

American Express issues a range of products for individuals, small businesses and large corporations, including personal cards, business and corporate cards, and co‑brand partnerships with airlines, hotels and retailers.