Stocks
Glenview Trust Co Boosts Stake in American Express Amid Q2 Earnings Beat
Glenview Trust Co has made significant investments in American Express Company (NYSE: AXP) by acquiring 48,695 shares worth $14.73 million in the second quarter, according to a recent 13F filing with the Securities & Exchange Commission.
This is not an isolated event as other institutional investors have also increased their stakes in the company. BlackRock Inc acquired a new position worth $14.21 billion during the same period, while State Street Corp grew its existing stake by 1.3% to 29.46 million shares valued at $10.9 billion.
American Express posted better-than-expected quarterly earnings of $4.53 per share, beating analysts' estimates of $4.41. The company's revenue rose 10.0% year-over-year to $19.64 billion during the quarter.