Institutional Investors Boost Stakes in American Express Amid Strong Quarterly Earnings
American Express Company's stock has seen increased holdings from various institutional investors and hedge funds. Franklin Street Advisors Inc. NC boosted its stake in AXP by 11.9% in the second quarter, purchasing an additional 8,167 shares.
The fund now owns 76,817 shares of American Express' stock, valued at $25,983,000 as of its most recent SEC filing. This represents about 1.5% of Franklin Street Advisors Inc. NC's portfolio, making AXP its 19th largest holding.
Other notable investors have also increased their stakes in the company. Norges Bank acquired a new position in shares of American Express in the fourth quarter, valued at approximately $2,464,215,000. Capital World Investors raised its stake by 46.7% during the same period, now owning 7,515,675 shares worth $2,780,424,000.
American Express has a market capitalization of $230.25 billion and a P/E ratio of 20.69. The company's quarterly earnings data was released on July 24th, with the payment services firm reporting $4.53 EPS, surpassing the consensus estimate of $4.41.