Crossmark Global Holdings Inc. Increases Stake in American Express

Crossmark Global Holdings Inc. has enhanced its investment in American Express (NYSE:AXP) by 2.6% during the third quarter. This information comes from its latest Form 13F submission to the Securities and Exchange Commission (SEC). After purchasing an additional 2,560 shares during the period, the institutional investor now holds a total of 100,627 shares of the payment services company's stock. The value of Crossmark Global Holdings Inc.'s holdings in American Express stands at approximately $27,290,000 as indicated in the recent SEC filing.

Several other hedge funds have also recently adjusted their stakes in American Express. DHJJ Financial Advisors Ltd. boosted its position by 42.2% in the second quarter, resulting in ownership of 165 shares worth about $38,000 after acquiring 49 additional shares. POM Investment Strategies LLC initiated a new position valued at $42,000, while Founders Capital Management also made a new investment in the second quarter amounting to $46,000. In the third quarter, Mowery & Schoenfeld Wealth Management LLC and Capital Performance Advisors LLP each procured new positions in American Express, valued at $46,000 and $48,000 respectively. Currently, institutional investors hold 84.33% of the company's stock.

Insider Transactions

In recent developments, Vice Chairman Douglas E. Buckminster executed a sale of 13,111 shares on October 29th, at an average price of $270.98, totaling $3,552,818.78. Post-transaction, he retains 109,691 shares valued at approximately $29,724,067.18, reflecting no change in his ownership stake. This sale has been properly disclosed in filings to the SEC. Additionally, on October 22nd, insider Anre D. Williams disposed of 77,887 shares at an average price of $270.26 for a transaction value of $21,049,740.62. He now holds 111,656 shares, valued at around $30,176,150.56, which also signifies no reduction in ownership percentage. Currently, company insiders own about 0.12% of American Express stock.

Performance Overview

As of mid-day trading on Friday, shares of AXP rose by $0.78 to reach $287.60, with a trading volume of 1,814,377 shares compared to the average volume of 2,830,479. American Express's stock has seen a 52-week low of $152.05 and a high of $296.83. The company showcases a quick ratio of 1.63, a current ratio of 1.63, and a debt-to-equity ratio of 1.80. The last 50-day simple moving average is $268.64, and the 200-day simple moving average stands at $249.32. With a market capitalization of $202.60 billion, American Express has a price-to-earnings ratio of 21.16 and a PEG ratio of 1.61.

On October 18th, American Express reported its latest quarterly earnings, revealing a figure of $3.49 earnings per share (EPS), surpassing the anticipated $3.27 by $0.22. The reported revenue for the quarter stood at $16.64 billion, slightly under the expected $16.68 billion. The firm boasts a return on equity of 32.46% and a net profit margin of 15.32%, with year-over-year revenue growth of 8.2%. Analysts forecast an EPS of 13.4 for the current fiscal year.

Dividend Information

American Express recently declared a quarterly dividend, which was distributed on November 8th. Shareholders registered as of October 4th received a dividend payment of $0.70. This resulted in an annualized dividend of $2.80, translating to a yield of 0.97%. The current payout ratio for American Express is 20.60%.

Analyst Ratings

Numerous brokerages have recently provided insights on American Express. Bank of America has adjusted its target price from $263.00 to $265.00, maintaining a "neutral" rating. Evercore ISI raised their target from $275.00 to $290.00 with an "in-line" rating. The Goldman Sachs Group set a new target price of $300.00, showcasing a "buy" rating. Moreover, Compass Point initiated coverage giving a "neutral" rating and a $260.00 price target. Recently, Monness Crespi & Hardt raised their price target on American Express from $265.00 to $300.00, reinforcing a "buy" outlook. According to the consensus from MarketBeat.com, the stock now has a "Hold" rating along with a price target averaging $253.09.

Company Profile

American Express Company, through its subsidiaries, functions as an integrated payments company across various regions including the U.S., Europe, Middle East, Africa, Asia Pacific, and parts of Latin America. The corporation operates through four main segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.

Investment, Financial, Performance