CoreCap Advisors Sells Nearly Half of Stake in AXP

CoreCap Advisors LLC has significantly reduced its stake in American Express Company (NYSE:AXP) by 38.9% in the second quarter, according to a recent Form 13F filing with the SEC. The firm sold 5,997 shares during the period, leaving it with 9,434 shares of AXP stock worth $3,191,000 as of its most recent filing.

CoreCap Advisors LLC is not the only institution that has made adjustments to its position in American Express. State Street Corp boosted its stake by 1.3% during the fourth quarter, while Fisher Asset Management LLC increased its holding by 1.6%. Bank of America Corp DE raised its stake by 7.7%, and Capital World Investors purchased an additional 2,393,340 shares, resulting in a 46.7% increase.

Institutional investors and hedge funds own 84.33% of American Express stock. The company has set its FY 2026 guidance at $17.300-17.900 earnings per share (EPS) and is expected to post $17.67 EPS for the current fiscal year, according to analysts' estimates.