Arizona State Retirement System Sells Stake in American Express Amid Shifts in Institutional Ownership
The Arizona State Retirement System has reduced its stake in American Express Company by selling 3,525 shares during the second quarter. The fund's holding in AXP decreased by 2.3% as it sold off some of its stock, leaving it with a total of 147,476 shares. This reduction is part of the larger trend of institutional investors modifying their holdings in American Express.
Other large investors have also made significant changes to their stakes in AXP. California State Teachers Retirement System boosted its stake by an astonishing 32,491.3% during the second quarter, taking its ownership to a massive 269,392,448 shares valued at $91,121,996,000. BlackRock Inc. acquired a new position worth $14,208,662,000 in the second quarter.
These changes have contributed to American Express having one of the highest institutional ownership rates among publicly traded companies. According to MarketBeat.com data, 84.33% of the company's stock is held by institutional investors.