EFG International AG Scoops Up AXP Shares Amid Wall Street Optimism

EFG International AG has acquired a new position in American Express Company's stock, according to its most recent disclosure with the SEC. The firm bought 17,234 shares of AXP, valued at approximately $5,829,000.

This is not an isolated instance of institutional investors purchasing AXP stocks. Flputnam Investment Management Co., Evolve Private Wealth LLC, Keybank National Association OH, Swiss Life Asset Management Ltd, and Peapack Gladstone Financial Corp have all increased their holdings in the company during the second quarter.

Wall Street analysts remain optimistic about American Express, with a Moderate Buy rating among analysts. HSBC lifted its price target on AXP from $312.00 to $329.00, while Benchmark initiated coverage with a 'buy' rating.