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Manufacturers Life Insurance Takes Big Stake in American Express

Guavy AI Editorial Team
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AXP
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The Manufacturers Life Insurance Company recently acquired 430,789 shares of American Express Company (NYSE:AXP) stock in the second quarter, valued at approximately $145.7 million.

This new stake gives The Manufacturers Life Insurance Company ownership of about 0.06% of American Express as of its most recent filing with the Securities & Exchange Commission.

The purchase is part of a larger trend of institutional investors taking positions in American Express, with other hedge funds also increasing their stakes or acquiring new ones.

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