Crossmark Global Holdings Inc. Increases Stake in American Express

Crossmark Global Holdings Inc. has increased its ownership in American Express (NYSE:AXP) by 2.6% during the third quarter, as revealed in its latest Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor now holds 100,627 shares of the payment services firm after acquiring an additional 2,560 shares within the quarter. As per the most recent filing, the value of Crossmark Global Holdings Inc.'s investment in American Express amounts to $27,290,000.

Several other hedge funds have also adjusted their positions in American Express. DHJJ Financial Advisors Ltd. raised its stake by 42.2% in the second quarter, bringing its total to 165 shares worth $38,000 after purchasing an additional 49 shares. POM Investment Strategies LLC entered a new position valued at $42,000 during the same quarter, while Founders Capital Management also acquired shares worth $46,000. In the third quarter, Mowery & Schoenfeld Wealth Management LLC and Capital Performance Advisors LLP made new purchases valued at $46,000 and $48,000, respectively. Overall, institutional investors collectively own 84.33% of the company's stock.

Insider Transactions

In related news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of American Express on October 29th. The shares were sold at an average price of $270.98, totaling $3,552,818.78. After this sale, Buckminster owns 109,691 shares valued at $29,724,067.18, reflecting a negligible decrease in his holdings. This transaction was officially reported to the SEC. Similarly, on October 22nd, insider Anre D. Williams sold 77,887 shares at an average of $270.26, worth $21,049,740.62. Following this sale, Williams holds 111,656 shares valued at $30,176,150.56, maintaining a minor reduction in ownership. Company insiders currently own about 0.12% of the stock.

American Express Stock Performance

On Friday, shares of American Express traded up $0.78, reaching $287.60 with a total trading volume of 1,814,377 shares, which is lower than its average volume of 2,830,479. American Express has seen a 52-week low of $152.05 and a high of $296.83. The company has a quick ratio of 1.63, a current ratio of 1.63, and a debt-to-equity ratio of 1.80. Its 50-day and 200-day simple moving averages are $268.64 and $249.32, respectively. American Express has a market capitalization of $202.60 billion, a price-to-earnings ratio of 21.16, a PEG ratio of 1.61, and a beta of 1.21.

American Express recently reported its quarterly earnings on October 18th, announcing earnings per share of $3.49, exceeding the consensus estimate of $3.27 by $0.22. The company generated revenue of $16.64 billion, slightly below the expected $16.68 billion. Year-over-year, revenue increased by 8.2%, and the prior year’s earnings per share stood at $3.30. Analysts predict that American Express will record an EPS of 13.4 in the current fiscal year.

Dividend Information

American Express declared a quarterly dividend on November 8th, distributing a payment of $0.70 to all shareholders of record as of October 4th. This results in an annualized dividend of $2.80, yielding 0.97%. The company's payout ratio is currently at 20.60%.

Analyst Ratings

Several brokerage firms have recently revised their ratings on American Express. Bank of America raised the target price from $263.00 to $265.00 while maintaining a "neutral" rating on September 17th. Meanwhile, Evercore ISI lifted its target from $275.00 to $290.00, also affirming an "in-line" rating. The Goldman Sachs Group increased its price target from $270.00 to $300.00, rating the stock as a "buy". Compass Point started coverage with a "neutral" rating, setting a price target of $260. Lastly, Monness Crespi & Hardt elevated its price objective from $265.00 to $300.00, issuing a "buy" rating. Currently, the consensus includes four sell ratings, thirteen hold ratings, and nine buy ratings, leading to an overall "Hold" recommendation with a consensus price target of $253.09.

Company Overview

American Express Company operates as an integrated payments firm across various regions, including the United States, Europe, the Middle East, Africa, and Asia-Pacific. Its operations are divided into four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.

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