American Express Sees Significant Institutional Investment

American Express Company (NYSE:AXP) has gained significant attention from institutional investors in recent quarters. According to its most recent Form 13F filing with the SEC, Meeder Advisory Services Inc. purchased a new stake in shares of American Express in the second quarter, buying 17,522 shares worth approximately $5,927,000.

This is not an isolated incident; several other institutional investors have made changes to their positions in the company. Evolution Wealth Management Inc., for instance, increased its position by 6,600% during the fourth quarter and now owns 67 shares valued at $25,000. Other notable buyers include Joseph Group Capital Management, Sfam LLC, Caitong International Asset Management Co. Ltd, and Measured Wealth Private Client Group LLC.

As of now, 84.33% of American Express's stock is owned by institutional investors and hedge funds. The company has a market cap of $228.32 billion, with a P/E ratio of 20.52 and a beta of 1.04. In its latest earnings report, American Express posted $4.53 earnings per share (EPS) for the quarter, exceeding the consensus estimate by $0.12.