Caisse de depot et placement du Quebec Buys Significant Stake in American Express
Caisse de depot et placement du Quebec acquired a significant amount of American Express Company stock in the second quarter, according to a recent SEC filing. The fund purchased 296,656 shares valued at approximately $100,344,000. This is not an isolated instance; several other institutional investors and hedge funds have been adding or reducing their stakes in the company.
American Express reported quarterly earnings of $4.53 per share, exceeding analysts' expectations by $0.12. The payment services company's revenue for the quarter was $19.64 billion, a 10% increase from the same period last year. American Express has set its FY 2026 guidance at 17.300-17.900 EPS.
84.33% of American Express stock is currently owned by institutional investors and hedge funds. Analysts have provided mixed ratings for the company, with one rating it a 'Strong Buy' and another assigning an 'overweight' rating. The average price target for American Express is $373.32.