Nippon Life Invests Big in American Express
Nippon Life Global Investors Americas Inc., a significant institutional investor, has acquired a new position in shares of American Express Company (NYSE:AXP) in the second quarter. The company's most recent filing with the Securities & Exchange Commission indicates that Nippon Life bought 40,110 shares valued at approximately $13,567,000.
Other large investors also modified their holdings of American Express during this period. Evolution Wealth Management Inc., for example, increased its holdings in AXP by 6,600.0% and now owns 67 shares worth around $25,000 after purchasing an additional 66 shares. Joseph Group Capital Management and Sfam LLC each bought new stakes in the company's stock in the fourth quarter, valued at approximately $26,000.
As of now, 84.33% of American Express' stock is owned by institutional investors. The company has a market capitalization of $231.14 billion, a PE ratio of 20.77, and a beta of 1.04. Its 50-day moving average is $341.33 and its 200-day moving average is $327.33.
The payment services company reported earnings per share of $4.53 for the quarter, exceeding analysts' estimates by $0.12. American Express' revenue was up 10.0% year-over-year, with a net margin of 15.07%. The firm has set its FY 2026 guidance at 17.300-17.900 EPS.