Allspring Global Investments Holdings LLC Sells 4,157 Shares of American Express (NYSE:AXP)

Allspring Global Investments Holdings LLC reduced its stake in American Express (NYSE:AXP - Free Report) by 7.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,896 shares of the payment services company's stock after selling 4,157 shares during the period. Allspring Global Investments Holdings LLC's holdings in American Express were worth $15,189,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Opal Wealth Advisors LLC raised its stake in American Express by 1.6% during the 4th quarter. Opal Wealth Advisors LLC now owns 2,142 shares of the payment services company's stock worth $636,000 after buying an additional 33 shares during the period. Catalina Capital Group LLC raised its stake in American Express by 1.0% during the 4th quarter. Catalina Capital Group LLC now owns 3,356 shares of the payment services company's stock worth $996,000 after buying an additional 34 shares during the period. Auxier Asset Management raised its stake in American Express by 0.5% during the 3rd quarter. Auxier Asset Management now owns 7,133 shares of the payment services company's stock worth $1,934,000 after buying an additional 35 shares during the period. Abel Hall LLC raised its stake in American Express by 3.6% during the 3rd quarter. Abel Hall LLC now owns 1,011 shares of the payment services company's stock worth $274,000 after buying an additional 35 shares during the period. Finally, Sunflower Bank N.A. raised its stake in American Express by 0.9% during the 4th quarter. Sunflower Bank N.A. now owns 4,054 shares of the payment services company's stock worth $1,203,000 after buying an additional 35 shares during the period. 84.33% of the stock is currently owned by institutional investors.

American Express Price Performance

Shares of NYSE:AXP traded down $5.84 during trading on Thursday, hitting $304.08. 2,829,322 shares of the company were exchanged, compared to its average volume of 2,457,482. The business's 50 day moving average is $307.61 and its 200-day moving average is $283.65. The company has a market capitalization of $213.62 billion, a P/E ratio of 21.70, a price-to-earnings-growth ratio of 1.49 and a beta of 1.24. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. American Express has a 1-year low of $209.10 and a 1-year high of $326.27.

American Express (NYSE:AXP - Get Free Report) last issued its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.04. American Express had a net margin of 15.36% and a return on equity of 32.65%. Equities analysts forecast that American Express will post 15.33 earnings per share for the current year.

American Express Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Friday, January 3rd were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.80 annualized dividend and a dividend yield of 0.92%. American Express's dividend payout ratio is 19.99%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on AXP shares. Citigroup lifted their price target on American Express from $305.00 to $320.00 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Wells Fargo & Company lifted their target price on American Express from $355.00 to $370.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. JPMorgan Chase & Co. lifted their price target on American Express from $301.00 to $307.00 and gave the stock a "neutral" rating in a report on Tuesday, January 14th. UBS Group lifted their price target on American Express from $283.00 to $320.00 and gave the stock a "neutral" rating in a report on Monday, January 13th. Finally, Monness Crespi & Hardt boosted their price objective on American Express from $330.00 to $355.00 and gave the stock a "buy" rating in a report on Monday, January 27th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $296.38.

Insider Buying and Selling

In other American Express news, insider Ravikumar Radhakrishnan sold 9,485 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $319.17, for a total transaction of $3,027,327.45. Following the completion of the sale, the insider now directly owns 13,500 shares in the company, valued at approximately $4,308,795. This trade represents a 41.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Caillec Christophe Le sold 6,000 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $303.48, for a total value of $1,820,880.00. Following the sale, the chief financial officer now owns 6,433 shares of the company's stock, valued at approximately $1,952,286.84. The trade was a 48.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,664 shares of company stock valued at $9,613,503 over the last 90 days. 0.12% of the stock is owned by insiders.

American Express Company Profile

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.