Bank of New York Mellon Invests $1.26 Billion in American Express

Bank of New York Mellon Corp has invested $1.26 billion in American Express Company (NYSE: AXP) by acquiring 3,736,251 shares of its stock.

This investment represents approximately 0.55% of American Express' outstanding shares and is a significant vote of confidence in the company's future prospects.

Bank of New York Mellon Corp joins other institutional investors who have also increased their stakes in American Express recently, including Evolution Wealth Management Inc., which boosted its position by 6,600% during the fourth quarter.