Allspring Global Investments Holdings LLC increased its stake in shares of American Express (NYSE:AXP – Free Report) by 6.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 49,111 shares of the payment services company’s stock after buying an additional 3,030 shares during the period. Allspring Global Investments Holdings LLC’s holdings in American Express were worth $8,555,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in AXP. Steward Financial Group LLC increased its holdings in American Express by 104.9% during the first quarter. Steward Financial Group LLC now owns 211 shares of the payment services company’s stock worth $34,000 after buying an additional 108 shares during the last quarter. Impact Partnership Wealth LLC purchased a new stake in American Express during the second quarter worth about $35,000. Addison Advisors LLC increased its holdings in American Express by 44.8% during the first quarter. Addison Advisors LLC now owns 239 shares of the payment services company’s stock worth $39,000 after buying an additional 74 shares during the last quarter. Tilia Fiduciary Partners Inc. increased its holdings in American Express by 80.7% during the first quarter. Tilia Fiduciary Partners Inc. now owns 300 shares of the payment services company’s stock worth $49,000 after buying an additional 134 shares during the last quarter. Finally, Almanack Investment Partners LLC. bought a new position in American Express during the third quarter worth about $53,000. Hedge funds and other institutional investors own 83.08% of the company’s stock.
Insider Buying and Selling at American Express
In other American Express news, Director Walter Joseph Clayton III bought 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The stock was purchased at an average cost of $143.93 per share, with a total value of $143,930.00. Following the completion of the acquisition, the director now owns 2,000 shares in the company, valued at approximately $287,860. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.12% of the company’s stock.
American Express Stock Performance
American Express (NYSE:AXP – Get Free Report) last announced its earnings results on Friday, October 20th. The payment services company reported $3.30 EPS for the quarter, beating analysts’ consensus estimates of $2.96 by $0.34. The firm had revenue of $15.38 billion for the quarter, compared to analysts’ expectations of $15.36 billion. American Express had a net margin of 13.61% and a return on equity of 30.60%. The company’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.47 EPS. As a group, research analysts predict that American Express will post 11.16 EPS for the current year.
American Express Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 10th. Shareholders of record on Friday, October 6th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Thursday, October 5th. American Express’s dividend payout ratio (DPR) is currently 22.51%.
Analysts Set New Price Targets
AXP has been the subject of a number of research reports. JPMorgan Chase & Co. cut their target price on shares of American Express from $192.00 to $167.00 and set a “neutral” rating for the company in a research report on Tuesday, October 17th. Oppenheimer cut their price objective on shares of American Express from $190.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday, October 11th. Robert W. Baird lowered shares of American Express from an “outperform” rating to a “neutral” rating and set a $185.00 target price for the company. in a research report on Thursday, July 6th. TD Cowen started coverage on shares of American Express in a research report on Wednesday. They set a “market perform” rating and a $158.00 target price for the company. Finally, HSBC started coverage on shares of American Express in a research report on Friday, October 13th. They set a “buy” rating and a $181.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $170.95.
About American Express
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.
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