Perigon Wealth Management Invests $22.6 Million in American Express Company

Perigon Wealth Management LLC, a financial institution, has acquired a significant stake in American Express Company (NYSE:AXP). According to its most recent SEC disclosure, Perigon acquired 66,831 shares of AXP's stock valued at approximately $22.61 million in the second quarter.

This is not an isolated incident as several other hedge funds and institutional investors have also shown interest in American Express. Evolution Wealth Management Inc., for instance, increased its stake in AXP by a staggering 6,600% in the fourth quarter.

Despite this surge in investor interest, American Express has faced some challenges recently. The company reported lower-than-expected revenue of $14.99 billion in the second quarter, missing analysts' consensus estimates of $19.70 billion.