Allspring Global Investments Holdings LLC Purchases 12,476 Shares of American Express Company $AXP

Key Points

• Allspring Global Investments Holdings LLC increased its holdings in American Express by 26.1%, adding 12,476 shares in the second quarter, bringing the total to 60,289 shares valued at approximately $19.45 million.
• Insiders at American Express have recently sold significant amounts of stock, including CEO Stephen J. Squeri, who sold 112,272 shares worth around $37 million, reducing his ownership by 54.74%.
• A quarterly dividend of $0.82 per share will be paid on November 10th, representing a 1.0% dividend yield based on current stock prices.

Allspring Global Investments Holdings LLC grew its position in shares of American Express Company (NYSE:AXP) by 26.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,289 shares of the payment services company's stock after buying an additional 12,476 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in American Express were worth $19,445,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of American Express by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 45,843,893 shares of the payment services company's stock worth $12,334,299,000 after purchasing an additional 605,900 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of American Express by 13.7% in the 1st quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company's stock valued at $4,849,777,000 after acquiring an additional 2,168,445 shares during the last quarter. Nuveen LLC bought a new stake in American Express in the first quarter worth about $1,454,667,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in American Express by 1.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,093,807 shares of the payment services company's stock worth $1,370,489,000 after purchasing an additional 78,538 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in American Express by 25.5% in the first quarter. Goldman Sachs Group Inc. now owns 4,752,690 shares of the payment services company's stock worth $1,278,711,000 after purchasing an additional 965,221 shares during the last quarter. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at American Express

In other news, insider Glenda G. Mcneal sold 50,000 shares of American Express stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $309.50, for a total transaction of $15,475,000.00. Following the completion of the sale, the insider directly owned 10,957 shares in the company, valued at approximately $3,391,191.50. The trade was a 82.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Stephen J. Squeri sold 112,272 shares of American Express stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $329.86, for a total transaction of $37,034,041.92. Following the sale, the chief executive officer owned 92,810 shares of the company's stock, valued at $30,614,306.60. The trade was a 54.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 269,996 shares of company stock valued at $85,261,270. Company insiders own 0.20% of the company's stock.

American Express Price Performance

NYSE AXP opened at $323.60 on Friday. The firm's fifty day simple moving average is $324.66 and its two-hundred day simple moving average is $301.57. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 1.80. American Express Company has a 12-month low of $220.43 and a 12-month high of $349.19. The firm has a market capitalization of $225.19 billion, a P/E ratio of 22.71, a P/E/G ratio of 1.73 and a beta of 1.29.

American Express (NYSE:AXP - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.86 by $0.22. American Express had a net margin of 14.78% and a return on equity of 32.87%. The business had revenue of $17.86 billion for the quarter, compared to analyst estimates of $17.70 billion. During the same period in the previous year, the company earned $3.49 earnings per share. The business's revenue for the quarter was up 9.3% on a year-over-year basis. Analysts forecast that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Friday, October 10th will be paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, October 10th. American Express's payout ratio is presently 23.02%.

Analysts Set New Price Targets

A number of brokerages have recently commented on AXP. Evercore ISI raised their target price on shares of American Express from $330.00 to $365.00 and gave the stock an "in-line" rating in a research report on Tuesday, September 30th. JPMorgan Chase & Co. raised their target price on shares of American Express from $343.00 to $355.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 7th. Barclays raised their target price on shares of American Express from $297.00 to $336.00 and gave the stock a "cautious" rating in a research report on Monday, October 6th. Truist Financial raised their target price on shares of American Express from $348.00 to $375.00 and gave the stock a "buy" rating in a research report on Monday, September 15th. Finally, Wells Fargo & Company raised their target price on shares of American Express from $350.00 to $375.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. Nine investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $323.60.

About American Express

American Express Company, together with its subsidiaries, operates as integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and Internationally. It operates through four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.

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