QRG Capital Boosts Holdings in American Express Amid Analyst Caution

QRG Capital Management Inc., a financial services company, has increased its holdings in American Express Company (NYSE:AXP) by 36.8% during the second quarter.

The fund purchased an additional 33,342 shares of American Express stock, bringing its total holdings to 124,017 shares worth $45,382,000 as of its most recent SEC filing.

This is not an isolated instance; other institutional investors have also been buying and selling shares of AXP. Envestnet Portfolio Solutions Inc., for example, raised its holdings in American Express by 49.8% during the second quarter and now owns 32,440 shares worth $10,973,000.

Despite these developments, analysts remain cautious about American Express' stock performance. Some have expressed concerns about rising credit risk, while others have set price targets for the company's stock. As of now, AXP has a Moderate Buy rating among analysts and a consensus price target of $373.05.