1ST Source Bank Acquires New Stake in American Express Company Shares

1ST Source Bank has acquired a new stake in shares of American Express Company (NYSE:AXP) during the second quarter, according to its latest filing with the Securities and Exchange Commission. The bank purchased approximately 26,791 shares valued at around $9,062,000.

This represents about 0.4% of 1ST Source Bank's investment portfolio, making it their 25th largest holding. Various other institutional investors have also made recent changes to their holdings in American Express, including Norges Bank and Bank of New York Mellon Corp.

Capital World Investors increased its position by 46.7% during the fourth quarter, owning approximately 7.5 million shares worth around $2.78 billion. Meanwhile, Healthcare of Ontario Pension Plan Trust Fund boosted its stake by 350% in the first quarter and now owns about 1.24 million shares valued at $373.9 million.

Additionally, American Express has been making headlines with various updates to its services and operations. The company recently expanded virtual card capabilities for U.S. corporate customers, offering adjustable spending limits and enhanced fraud protection. It also strengthened its premium travel ecosystem by adding 350 luxury hotels across 116 countries to the Platinum Card travel program.