Horizon Investment Services Invests in American Express
Horizon Investment Services LLC has invested $4.15 million in American Express Company (NYSE:AXP), acquiring a new stake of 12,261 shares during the second quarter. This investment is part of the larger trend of institutional investors buying into AXP stock.
American Express reported earnings per share (EPS) of $4.53 for the latest quarter, beating analyst estimates of $4.41. The company's revenue grew 10% year-over-year to $14.99 billion. Analysts anticipate EPS of $17.67 for the current year.
The payment services company has also made several recent announcements, including expanding its virtual-card capabilities and adding luxury hotels to its Platinum Card travel program. These moves are seen as efforts to strengthen its premium travel ecosystem and attract affluent customers.