Mystic Asset Invests $1.49 Million in American Express

Mystic Asset Management Inc., a financial institution, has invested $1.49 million in American Express Company (NYSE:AXP). The fund purchased 4,403 shares of American Express' stock during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission.

This is not the only investment made by Mystic Asset Management Inc. in American Express. Several other hedge funds have also modified their holdings of the stock, including Fairtree Asset Management Pty Ltd., which acquired a new position valued at $2,197,000.

Analysts' opinions on American Express are mixed, with some rating it as a 'buy' and others assigning a 'hold' or 'sell' rating. The company's recent expansion of its virtual-card capabilities for U.S. commercial customers through its @ Work platform and Conferma may strengthen its position in corporate payments.