Mill Capital Invests Big in American Express

Mill Capital Management LLC has invested in American Express Company (NYSE:AXP) during the second quarter, according to its recent SEC filing. The fund purchased 121,505 shares valued at approximately $41,099,000.

This investment represents about 2.7% of Mill Capital Management's holdings, making AXP its 11th largest position among its portfolio.

Mill Capital Management is not the only institution to have invested in American Express recently. Keybank National Association OH increased its stake in AXP by 3% during the fourth quarter and now owns 359,261 shares worth $132,909,000.

The company's payment services and travel-related services are driving growth, with revenue up 10% year-over-year, according to American Express' latest quarterly earnings report. Analysts have a consensus rating of 'Moderate Buy' for AXP stock, with an average target price of $373.32 per share.