Crossmark Global Holdings Inc. Sells 1,253 Shares of American Express (NYSE:AXP)
Crossmark Global Holdings Inc. cut its stake in shares of American Express (NYSE:AXP) by 2.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 43,192 shares of the payment services company’s stock after selling 1,253 shares during the period. Crossmark Global Holdings Inc.’s holdings in American Express were worth $5,377,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Ferguson Wellman Capital Management Inc. raised its holdings in American Express by 5.6% during the third quarter. Ferguson Wellman Capital Management Inc. now owns 7,623 shares of the payment services company’s stock worth $901,000 after buying an additional 404 shares during the last quarter. SeaCrest Wealth Management LLC lifted its position in American Express by 4.6% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 3,654 shares of the payment services company’s stock valued at $432,000 after acquiring an additional 160 shares in the last quarter. First Command Financial Services Inc. lifted its position in American Express by 6.1% in the 3rd quarter. First Command Financial Services Inc. now owns 2,156 shares of the payment services company’s stock valued at $255,000 after acquiring an additional 124 shares in the last quarter. DNB Asset Management AS boosted its stake in American Express by 6.4% during the 3rd quarter. DNB Asset Management AS now owns 76,688 shares of the payment services company’s stock valued at $9,071,000 after purchasing an additional 4,598 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in American Express during the 3rd quarter valued at about $308,000. Institutional investors own 84.23% of the company’s stock.
In other news, CEO Stephen J. Squeri sold 15,000 shares of American Express stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $117.96, for a total transaction of $1,769,400.00. Following the sale, the chief executive officer now directly owns 184,090 shares in the company, valued at approximately $21,715,256.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Laureen Seeger sold 27,571 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $136.04, for a total transaction of $3,750,758.84. Following the completion of the transaction, the insider now directly owns 53,739 shares in the company, valued at $7,310,653.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 96,639 shares of company stock valued at $12,649,661. Insiders own 0.21% of the company’s stock.
American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, January 24th. The payment services company reported $2.03 EPS for the quarter, beating the Zacks’ consensus estimate of $2.00 by $0.03. The company had revenue of $11.37 billion during the quarter, compared to the consensus estimate of $11.36 billion. American Express had a return on equity of 30.24% and a net margin of 15.44%. American Express’s revenue was up 8.5% on a year-over-year basis. During the same period last year, the business posted $1.84 earnings per share. On average, equities analysts anticipate that American Express will post 9.06 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Friday, January 3rd were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date was Thursday, January 2nd. This is an increase from American Express’s previous quarterly dividend of $0.39. American Express’s dividend payout ratio is 20.98%.
Several analysts have recently commented on AXP shares. Wells Fargo & Co increased their price objective on American Express from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. Cfra restated a “hold” rating on shares of American Express in a report on Friday, October 18th. William Blair reaffirmed an “outperform” rating on shares of American Express in a research report on Tuesday, December 10th. BMO Capital Markets upped their price target on American Express from $119.00 to $123.00 and gave the stock a “market perform” rating in a report on Monday, October 21st. Finally, Morgan Stanley upped their price target on American Express from $149.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $137.04.
American Express Company Profile
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services to consumers and businesses worldwide. It operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.
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