American Express Company $AXP Stock Sold by Crossmark Global Holdings Inc.

Key Points

• Crossmark Global Holdings cut its American Express stake by 51.1% in the third quarter, selling 36,511 shares and retaining 34,943 shares valued at approximately $10.6 million.
• Institutional ownership remains substantial at 84.33%, with major investors including State Street and Bank of America increasing their positions while BlackRock and others initiated stakes.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $365.63, while upcoming earnings, expanding card partnerships and competitive pressure are key factors for the stock.

Crossmark Global Holdings Inc. cut its holdings in American Express Company (NYSE:AXP - Free Report) by 51.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,943 shares of the payment services company's stock after selling 36,511 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in American Express were worth $10,626,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. bought a new position in shares of American Express in the second quarter worth about $14,208,662,000. State Street Corp boosted its stake in shares of American Express by 40.2% in the 2nd quarter. State Street Corp now owns 40,967,262 shares of the payment services company's stock valued at $13,857,176,000 after purchasing an additional 11,739,541 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of American Express by 8.4% during the 2nd quarter. Bank of America Corp DE now owns 7,969,555 shares of the payment services company's stock valued at $2,695,702,000 after purchasing an additional 614,981 shares during the last quarter. Corient Private Wealth LP bought a new stake in shares of American Express during the 2nd quarter valued at approximately $253,945,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of American Express during the 2nd quarter valued at approximately $1,263,787,000. Institutional investors own 84.33% of the company's stock.

Trending Headlines about American Express

Here are the key news stories impacting American Express this week:

• Positive Sentiment: Airbnb partnership expands cardholder benefits: American Express is adding more than 1 million Airbnb listings to Amex Travel, giving cardmembers the ability to earn and redeem rewards on a broader range of travel bookings. The move could improve premium-card retention and competitiveness as issuers enhance rewards programs. American Express brings Airbnb bookings and rewards to Amex Travel platform
• Positive Sentiment: Options market points to a potential post-earnings rally: Barchart data indicates options traders are positioning for AXP shares to move higher after the results, reflecting optimism ahead of the report. Ahead of American Express Earnings, Here's What Barchart Data Says Comes Next for AXP Stock
• Positive Sentiment: New co-branded card broadens distribution: American Express, Albertsons and Imprint launched the Albertsons forU American Express Card, potentially expanding customer acquisition through the grocery retailer’s loyalty ecosystem. Albertsons Companies Introduces New Albertsons forU American Express Card
• Neutral Sentiment: Earnings expectations are the main near-term catalyst: Analysts reportedly expect approximately $4.50 in Q3 EPS and $20.12 billion in revenue. Investors will also assess card spending, credit trends, provisions and operating expenses before adjusting estimates. American Express Q3 earnings watchlist: revenue, card spending, costs
• Negative Sentiment: ETF selling and competitive pressure remain risks: ETFs were reported as net sellers of AXP, while strong performance by rival Visa highlights investor preference for competing payment networks. These factors could limit upside if American Express delivers only an in-line report. ETFs Are Net Sellers of American Express

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on AXP shares. Citigroup lowered their price objective on shares of American Express from $355.00 to $340.00 and set a "neutral" rating for the company in a research report on Wednesday, September 30th. Truist Financial cut their target price on shares of American Express from $375.00 to $370.00 and set a "buy" rating on the stock in a research report on Wednesday, September 23rd. Royal Bank Of Canada decreased their target price on shares of American Express from $415.00 to $400.00 and set an "outperform" rating on the stock in a research note on Friday, October 9th. Morgan Stanley decreased their target price on shares of American Express from $382.00 to $380.00 and set an "equal weight" rating on the stock in a research note on Monday, October 12th. Finally, Evercore set a $320.00 price target on shares of American Express in a report on Thursday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $365.63.

American Express Stock Performance

American Express stock opened at $324.52 on Friday. The business has a 50 day moving average of $319.42 and a 200-day moving average of $326.03. American Express Company has a 1 year low of $290.97 and a 1 year high of $387.49. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.55 and a quick ratio of 1.54. The company has a market capitalization of $219.15 billion, a P/E ratio of 19.64, a P/E/G ratio of 1.38 and a beta of 1.08.

American Express (NYSE:AXP - Get Free Report) last issued its quarterly earnings data on Friday, July 24th. The payment services company reported $4.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.41 by $0.12. American Express had a net margin of 15.07% and a return on equity of 34.12%. The business had revenue of $14.99 billion during the quarter, compared to analyst estimates of $19.70 billion. During the same quarter last year, the business earned $4.08 EPS. The firm's quarterly revenue was up 10.0% on a year-over-year basis. On average, equities research analysts predict that American Express Company will post 17.65 earnings per share for the current year.

American Express Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 10th. Shareholders of record on Friday, October 9th will be issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, October 9th. American Express's payout ratio is presently 23.06%.

American Express Profile

American Express Company is a global financial services company that provides payment, lending, travel and expense management products and services. Its offerings include consumer and small-business charge and credit cards, corporate payment programs, business financing solutions, deposit products and digital payment services.

The company operates an integrated payments network that connects card members, merchants and financial institutions. American Express also provides merchant acquisition and payment processing services, data and analytics, fraud prevention tools, and customer loyalty programs.

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