Crossmark Global Holdings Inc. Increases Stake in American Express

Crossmark Global Holdings Inc. has increased its investment in American Express (NYSE:AXP) by 2.6% during the third quarter, as reported in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). Following this increase, the institutional investor now holds 100,627 shares of the renowned payment services company. This growth represents an additional 2,560 shares acquired within the period. As of the latest filing, Crossmark Global Holdings Inc. estimates that its shares in American Express are valued at approximately $27,290,000.

Other institutional investors have also made adjustments to their positions in American Express recently. DHJJ Financial Advisors Ltd. increased its holdings by 42.2% in the second quarter, now owning 165 shares worth about $38,000 after purchasing an additional 49 shares. Additionally, POM Investment Strategies LLC initiated a new position valued at $42,000 during the same period. Founders Capital Management also entered the market, acquiring shares worth $46,000. Moreover, Mowery & Schoenfeld Wealth Management LLC purchased shares valued at $46,000 in the third quarter, while Capital Performance Advisors LLP acquired a new position at a value of $48,000 during the same quarter. It is noted that hedge funds and other institutional investors collectively own 84.33% of American Express’s stock.

Insider Transactions

In recent insider trading news, Vice Chairman Douglas E. Buckminster sold 13,111 shares at an average price of $270.98 on October 29. This transaction totaled approximately $3,552,818.78. Following this sale, Buckminster holds 109,691 shares valued at around $29,724,067.18, marking a 0.00% decrease in his holding. This transaction was disclosed in a legal filing with the SEC. Similarly, insider Anre D. Williams sold 77,887 shares on October 22 at an average price of $270.26, amounting to a total of $21,049,740.62. Post-transaction, Williams has retained 111,656 shares, valued at approximately $30,176,150.56. This sale also reflects a 0.00% decrease in his ownership. Company insiders currently own about 0.12% of American Express stock.

American Express Stock Performance

During midday trading on Friday, shares of American Express were up $0.78, reaching a value of $287.60. The trading volume was 1,814,377 shares, which is lower than the average volume of 2,830,479. The company's shares have fluctuated between a 52-week low of $152.05 and a high of $296.83. Financially, American Express holds a quick ratio of 1.63 and a current ratio of 1.63, alongside a debt-to-equity ratio of 1.80. The market capitalization stands at approximately $202.60 billion, with a price-to-earnings ratio of 21.16 and a PEG ratio of 1.61.

On October 18, American Express publicly released its quarterly earnings, reporting earnings per share (EPS) of $3.49, surpassing analysts' expectations of $3.27 by $0.22. The company's revenue for the quarter was $16.64 billion, slightly below the consensus estimate of $16.68 billion. American Express's return on equity was recorded at 32.46%, with a net margin of 15.32%. Moreover, the revenue represented an 8.2% increase when compared to the previous year. Analysts forecast that American Express will achieve an EPS of 13.4 for the current fiscal year.

Dividend Information

American Express has also announced a recent quarterly dividend of $0.70, which was paid on November 8. Shareholders who were on record as of October 4 received the dividend, with the ex-dividend date also marked on October 4. This translates to an annualized dividend of $2.80, yielding a rate of 0.97%. The payout ratio of the company currently stands at 20.60%.

Analyst Insights

Several financial institutions have recently issued their opinions on American Express. Bank of America raised its target price for the stock from $263.00 to $265.00, maintaining a "neutral" rating. Evercore ISI increased its price target from $275.00 to $290.00 while assigning an "in-line" rating. The Goldman Sachs Group set a new target price of $300.00, recommending a "buy" rating. Compass Point also initiated coverage with a "neutral" rating and a target price of $260.00. Furthermore, Monness Crespi & Hardt raised their price target from $265.00 to $300.00, proclaiming a "buy" rating. Overall, the consensus shows four analysts rating the stock as a sell, thirteen as a hold, and nine as a buy, leading to a general consensus rating of "Hold" and a target price of $253.09 for American Express stock.

Company Overview

American Express Company operates as a global integrated payments company based in the United States and has divisions across Europe, the Middle East, Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, and the Caribbean. The company functions through four primary segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.

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