American Express Attracts Significant Institutional Investment

Financial services company American Express (AXP) has attracted significant investment from institutional investors in recent quarters. According to MarketBeat, SCS Capital Management LLC acquired a new stake in American Express, purchasing approximately 9,429 shares valued at $3.19 million.

This is not an isolated instance of investor interest in the company. Other institutional investors, including Silverlake Wealth Management LLC, Bank of New York Mellon Corp, Centric Wealth Management, and Prospect Hill Management LLC, have also purchased new stakes in American Express during the second quarter, with combined investments totaling $13.21 million.

The strong investor interest is reflected in the company's stock performance. On Monday, American Express opened at $342.27, representing a market cap of $231.14 billion and a P/E ratio of 20.77.