Northwestern Mutual Boosts Stake in American Express Amid Institutional Investor Interest

American Express Company (NYSE:AXP) has seen its shares purchased by Northwestern Mutual Wealth Management Co. in the second quarter, according to a recent filing with the Securities and Exchange Commission.

The fund raised its stake in AXP by 3% during this period, acquiring an additional 6,952 shares of the payment services company's stock. At the end of the most recent quarter, Northwestern Mutual Wealth Management Co.'s holdings in American Express were worth $80,266,000.

This is not the only instance of institutional investors buying into AXP during this period. BlackRock Inc., Norges Bank, Corient Private Wealth LP, and Bank of New York Mellon Corp all purchased new positions or stakes in the company. In total, 84.33% of American Express stock is owned by institutional investors.