Invst LLC Bets on American Express with New Investment

Invst LLC has made a new investment in American Express Company (NYSE:AXP). According to its latest 13F filing, the institutional investor bought 3,958 shares of the payment services company's stock during the second quarter. The total value of this purchase is approximately $1,339,000.

This is not the only significant investment in AXP in recent quarters. BlackRock Inc., for example, acquired a new stake in American Express worth $14,208,662,000 during the same period. State Street Corp also increased its stake in the company by 1.3% and now owns over 29 million shares.

The market reaction to this news was not immediately clear. However, some analysts have been bullish on AXP lately, with Freedom Capital upgrading their rating from 'hold' to 'strong-buy' in May. Bank of America also raised its target price for American Express to $391 per share in July.