L2 Asset Management Buys into American Express Amid Rising Institutional Interest

L2 Asset Management LLC recently purchased a new position in American Express Company (NYSE:AXP), buying 3,041 shares valued at approximately $1.029 million.

This move is part of a trend among institutional investors who have been increasing their holdings in the company. In the fourth quarter, Evolution Wealth Management Inc. lifted its position in AXP by an astonishing 6,600%, now owning 67 shares worth $25,000.

The majority stakeholder of American Express remains institutional investors, who own 84.33% of the company's stock. Analysts have set a consensus rating of 'Moderate Buy' and an average price target of $373.32 for AXP.