Crossmark Global Holdings Inc. Increases Stake in American Express (NYSE:AXP)

Crossmark Global Holdings Inc. has increased its investment in American Express (NYSE:AXP) by 2.6% during the third quarter. This information comes from the firm's latest Form 13F report submitted to the Securities and Exchange Commission (SEC). Following this acquisition, the institutional investor now holds a total of 100,627 shares of the payment services company. The value of Crossmark Global Holdings Inc.'s holdings in American Express stands at approximately $27,290,000 based on the recent filing.

In addition, a number of other hedge funds have also modified their positions in American Express. DHJJ Financial Advisors Ltd. raised its stake by 42.2% in the second quarter, now owning 165 shares valued at $38,000 after purchasing an additional 49 shares. POM Investment Strategies LLC entered a new position in American Express shares during the second quarter with a valuation of $42,000. Similarly, Founders Capital Management acquired new stock worth $46,000 in the same period. Mowery & Schoenfeld Wealth Management LLC bought a new stake worth $46,000 during the third quarter, and Capital Performance Advisors LLP also made a new investment valued at $48,000 within that same timeframe. As a result, hedge funds and institutional investors collectively own 84.33% of the company's stock.

Insider Transactions

In recent insider transactions, Vice Chairman Douglas E. Buckminster sold 13,111 shares of American Express on October 29th at an average price of $270.98, totaling approximately $3,552,818.78. After this sale, he retains ownership of 109,691 shares valued at around $29,724,067.18, marking no change in his overall position. This transaction was reported in a legal filing with the SEC.

Additionally, on October 22nd, insider Anre D. Williams sold 77,887 shares for an average price of $270.26, amounting to $21,049,740.62. Post-transaction, Williams continues to hold 111,656 shares, valued at roughly $30,176,150.56, also showing no change in ownership proportion. Presently, company insiders own about 0.12% of the stock.

Performance and Earnings

American Express shares experienced a slight increase, gaining $0.78 to reach $287.60 during midday trading. About 1,814,377 shares traded hands, which is below the average volume of 2,830,479 shares. The company's stock shows a 52-week low of $152.05 and a high of $296.83, with a market capitalization of $202.60 billion. It has a price-to-earnings ratio of 21.16, and its revenue growth is promising, with an anticipated earnings per share (EPS) of 13.4 for the current fiscal year, according to sell-side analysts.

American Express last reported its quarterly earnings on October 18th, revealing a surprise EPS of $3.49 for the quarter, surpassing analysts' expectations of $3.27. The firm generated revenue of $16.64 billion, slightly falling short of the predicted $16.68 billion. Furthermore, American Express reported a strong return on equity of 32.46% and a net margin of 15.32%, reflecting an 8.2% year-over-year revenue increase.

Dividend Details

American Express recently declared a quarterly dividend of $0.70, which was paid on November 8th to shareholders recorded on October 4th. The ex-dividend date was also set for October 4th, resulting in an annualized dividend of $2.80 and a yield of 0.97%, with a payout ratio of 20.60%.

Analyst Insights

Several financial institutions have provided updates regarding their ratings on American Express shares. Bank of America adjusted its target price from $263.00 to $265.00 while maintaining a "neutral" rating. Evercore ISI also raised its price target from $275.00 to $290.00 with an "in-line" rating. The Goldman Sachs Group revised its price target significantly, boosting it from $270.00 to $300.00 while issuing a "buy" rating. On the other hand, Compass Point initiated coverage, setting a price target of $260.00 with a "neutral" rating. Overall, the consensus rating among analysts is "Hold" with a consensus price target set at $253.09.

Company Profile

American Express Company operates as an integrated payments provider worldwide. It encompasses four primary segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services, enabling a wide array of financial services to both individual and corporate clients.

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