American Express Attracts Major Institutional Investment

American Express Company (NYSE: AXP) saw a significant investment from Private Advisory Group LLC in the second quarter, according to a recent filing with the SEC. The fund purchased 38,198 shares of American Express stock, valued at approximately $12,920,000.

This is not an isolated instance of institutional investors showing interest in American Express. In fact, various other funds and hedge funds have recently bought or sold shares of the company, including Evolution Wealth Management Inc., Joseph Group Capital Management, Sfam LLC, Measured Wealth Private Client Group LLC, and Caitong International Asset Management Co. Ltd.

The institutional ownership stake in American Express is substantial, with 84.33% of the company's stock held by these investors. The latest earnings report showed the payment services company beating analysts' consensus estimates, reporting $4.53 earnings per share for the quarter.