Hennessy Advisors Buys New Shares in American Express

Hennessy Advisors Inc., a financial services company, has purchased new shares in American Express Company (NYSE: AXP) during the second quarter. According to its most recent 13F filing with the SEC, Hennessy Advisors bought approximately 6,584 shares of American Express's stock valued at around $2,227,000.

This is not an isolated instance; several other institutional investors have also made changes to their positions in AXP. Flputnam Investment Management Co., Evolve Private Wealth LLC, Swiss Life Asset Management Ltd, OMERS ADMINISTRATION Corp, and Peapack Gladstone Financial Corp all bought new stakes or increased their existing holdings in American Express during the second quarter.

The institutional investors own approximately 84.33% of American Express's stock. Analysts have given AXP a Moderate Buy rating with an average price target of $373.32, and some analysts have upgraded their price targets for the company.