Baxter Bros Takes Big Bet on American Express Stock

Baxter Bros Inc., a prominent investment firm, has made a significant new investment in American Express Company (NYSE:AXP). According to its most recent 13F filing with the SEC, Baxter Bros acquired 82,605 shares of AXP's stock, valued at approximately $27.94 million.

This acquisition represents about 3.2% of Baxter Bros' portfolio and makes AXP its seventh-largest holding. Several other institutional investors have also bought into AXP in recent quarters, including Brighton Jones LLC, Sivia Capital Partners LLC, Schnieders Capital Management LLC, Howland Capital Management LLC, and HUB Investment Partners LLC.

Analysts remain optimistic about American Express, with a consensus rating of 'Moderate Buy' and a target price of $373.32. However, some analysts have expressed caution, citing rising credit risk as a potential concern for the company's capital structure.