Allworth Financial LP Joins Ranks of Institutional Investors in American Express

Allworth Financial LP has invested in American Express Company (NYSE:AXP) by purchasing 142,143 shares valued at approximately $48,080,000.

This is not the only new stake purchased in AXP; several other institutional investors and hedge funds also acquired new positions during the second quarter. Greenspring Advisors LLC bought a new position valued at approximately $506,000, while B. Metzler seel. Sohn & Co. AG purchased a new stake worth around $25,040,000.

The purchase comes as American Express expands its virtual-card capabilities for U.S. commercial customers through its @ Work platform and Conferma. This initiative may strengthen AXP's position in corporate payments by improving security, spending controls, and integration with business and travel workflows.