Crossmark Global Holdings Inc. Increases Investment in American Express

Crossmark Global Holdings Inc. has enhanced its investment in American Express (NYSE:AXP) by 2.6% during the third quarter, as indicated in its latest Form 13F filing with the Securities and Exchange Commission (SEC). Following the purchase of an additional 2,560 shares, the institutional investor now holds a total of 100,627 shares of the payment services company.

The value of Crossmark Global Holdings Inc.'s stake in American Express is approximately $27,290,000, based on their recent SEC filing.

Changes from Other Investors

In addition to Crossmark, several other hedge funds have recently adjusted their positions in American Express. For instance, in the second quarter, DHJJ Financial Advisors Ltd. boosted its stake in the company by 42.2%. This firm now owns 165 shares, valued at $38,000, after acquiring an extra 49 shares. Similarly, POM Investment Strategies LLC entered a new position valued at $42,000 in the same quarter. Founders Capital Management also initiated a new stake worth $46,000 in the second quarter, along with Mowery & Schoenfeld Wealth Management LLC, which purchased a new position valued at $46,000 in the third quarter. Lastly, Capital Performance Advisors LLP acquired a new stake worth $48,000 during the third quarter. Notably, hedge funds and other institutional investors collectively own 84.33% of American Express stock.

Insider Trading Activity

In recent insider trading news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of American Express stock on October 29th at an average price of $270.98. This transaction amounted to a total of $3,552,818.78. Post-sale, Buckminster retains ownership of 109,691 shares, valued at $29,724,067.18, reflecting a negligible change in his position. This sale was formally disclosed in an SEC filing.

Another insider, Anre D. Williams, also sold a significant number of shares, totaling 77,887 shares on October 22nd, at an average price of $270.26. The total value of this transaction was $21,049,740.62. Williams now holds 111,656 shares worth $30,176,150.56, with a minimal decrease in ownership percentage reported. Currently, company insiders hold about 0.12% of the stock.

Stock Performance Overview

Shares of American Express experienced a slight increase, trading up $0.78 midday on Friday, reaching $287.60. The trading volume was 1,814,377 shares, below the average volume of 2,830,479. The company’s stock has a 52-week range, with a low of $152.05 and a high of $296.83. American Express showcases a quick ratio of 1.63, a current ratio of 1.63, and a debt-to-equity ratio of 1.80. The market capitalization stands at $202.60 billion, with a price-to-earnings ratio of 21.16 and a PEG ratio of 1.61.

American Express reported its quarterly earnings on October 18th, announcing earnings per share (EPS) of $3.49, surpassing the expected EPS of $3.27 by $0.22. The company generated $16.64 billion in revenues for the quarter, slightly below the anticipated $16.68 billion. The net margin stood at 15.32%, accompanied by a return on equity of 32.46%. The revenue demonstrated an 8.2% year-over-year growth compared to the previous year’s $3.30 EPS. Analysts forecast an EPS of 13.4 for American Express for the current fiscal year.

Dividend Information

Recently, American Express declared a quarterly dividend, which was distributed on November 8th. Investors recorded on October 4th received a dividend payout of $0.70, translating to an annualized dividend of $2.80 and a yield of 0.97%. The payout ratio stands at 20.60%.

Analyst Ratings and Price Adjustments

Numerous brokerages have recently revisited their ratings for American Express. Bank of America raised its price target from $263.00 to $265.00 while maintaining a “neutral” rating. Evercore ISI increased their target price from $275.00 to $290.00, also giving an “in-line” rating. Goldman Sachs issued a buy rating, boosting their target from $270.00 to $300.00. Other analysts have placed ratings on the stock, resulting in four sell ratings, thirteen hold ratings, and nine buy ratings. Currently, the consensus rating for American Express hovers around “Hold” with a price target average of $253.09.

Company Profile

American Express Company operates as an integrated payments firm globally, with services spanning the United States, Europe, and many other regions. The company functions through various segments, including U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.

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