American Express Attracts Institutional Investors Amid Divided Analyst Sentiment
American Express Company (NYSE:AXP) has attracted significant attention from institutional investors in recent quarters, according to a filing by Emerald Investment Advisers LLC with the Securities and Exchange Commission. The firm acquired a new stake in American Express worth approximately $6,354,000 through the purchase of 18,785 shares in the second quarter.
As reported by MarketBeat, this is not an isolated instance of institutional investment in American Express. Other notable buyers include Evolution Wealth Management Inc., which increased its holdings by a staggering 6,600% in the fourth quarter, and Caitong International Asset Management Co. Ltd, which bought a new stake worth approximately $28,000.
Wall Street analysts have also been weighing in on the company's prospects. While some, like BTIG Research, have downgraded their target price and issued sell ratings, others, such as Bank of America, have boosted their price targets and given American Express a 'buy' rating.