Institutional Investors Flock to American Express with Hundreds of Millions Invested

EP Wealth Advisors LLC has invested $10.11 million in American Express Company (NYSE:AXP) by acquiring 29,873 shares of its stock in the second quarter.

This is not an isolated instance, as several other institutional investors have also recently purchased shares of AXP, including BlackRock Inc., Norges Bank, Bank of New York Mellon Corp, and Deutsche Bank AG. These firms acquired new stakes in American Express valued at tens or hundreds of millions of dollars.

Capital World Investors boosted its position in AXP by 46.7% during the fourth quarter, purchasing an additional 2,393,340 shares worth $780,424,000. This increase represents a significant vote of confidence in the payment services company's prospects.