Flputnam Invests Heavily in American Express Amid Strong Earnings
Flputnam Investment Management Co. has invested $12.88 million in American Express Company (NYSE:AXP). The investment firm purchased 38,076 shares of AXP stock during the second quarter, according to its latest SEC filing.
This is not the only significant investment made in AXP recently. Norges Bank acquired a new stake worth about $2.46 billion in the fourth quarter, and Bank of New York Mellon Corp invested approximately $1.26 billion in the same period. Other notable investors, such as Capital World Investors and Healthcare of Ontario Pension Plan Trust Fund, have also increased their holdings in AXP.
AXP's stock price opened at $342.27 on Monday, with a 52-week low of $290.97 and a high of $387.49. The company has a market cap of $231.14 billion, a PE ratio of 20.77, and a beta of 1.04.
AXP recently reported earnings per share (EPS) of $4.53 for the quarter, beating analysts' estimates by $0.12. The company's revenue was up 10% compared to the same period last year, and it has set its FY 2026 guidance at $17.30-$17.90 EPS.