PensionDanmark Boosts Stake in American Express

PensionDanmark Pensionsforsikringsaktieselskab has increased its stake in American Express Company by 10.8% in the second quarter, according to a recent SEC filing.

The fund purchased an additional 10,446 shares of AXP's stock during this period, bringing its total holdings in the payment services company to 106,801 shares worth $36,125,000 at the end of the reporting period.

This move is part of a larger trend where institutional investors have been increasing their stakes in American Express. Norges Bank acquired a new stake in AXP valued at $2,464,215,000 during the fourth quarter, while Capital World Investors raised its holdings by 46.7% during the same period.