Hedge Funds Flock to American Express Despite Mixed Analyst Sentiment

American Express Company (NYSE:AXP) has attracted significant investment interest from various hedge funds in recent quarters. Portfolio Design Labs LLC, a notable investor, acquired 4,052 shares of American Express stock valued at approximately $1,371,000 during the second quarter.

Other prominent investors, including Brighton Jones LLC and Sivia Capital Partners LLC, also increased their stakes in American Express during the same period. These purchases indicate growing confidence in the company's performance and future prospects.

American Express reported a strong earnings beat for its most recent quarter, with EPS exceeding analyst estimates by $0.12. The company's revenue grew 10.0% year-over-year to $19.64 billion, further solidifying its position in the payments industry.