American Express Sees Significant Institutional Ownership Shift

American Express Company (NYSE:AXP) has seen significant changes in its ownership structure as Northstar Group Inc. acquired 21,693 shares of the company's stock in the second quarter.

The acquisition is valued at approximately $7,338,000 and represents 0.9% of Northstar Group Inc.'s holdings, making American Express its 16th biggest position.

This move comes as part of a broader trend of institutional investors increasing their stakes in the company, with Evolution Wealth Management Inc. raising its stake by 6,600.0% during the fourth quarter and other firms like Joseph Group Capital Management and Caitong International Asset Management Co. Ltd also purchasing new positions.

According to MarketBeat, American Express' stock has a market capitalization of $231.14 billion, with a price-to-earnings ratio of 20.77 and a beta of 1.04.