S&CO Inc. Adds to American Express Holdings Amid Broader Institutional Interest
S&CO Inc., an institutional investor, acquired a new position in American Express Company (NYSE:AXP) during the second quarter. According to its most recent Form 13F filing with the Securities & Exchange Commission, S&CO Inc. purchased 6,386 shares of AXP's stock valued at approximately $2,160,000.
This is not an isolated instance of American Express being a target for institutional investors. Several other hedge funds have recently modified their holdings in the payment services company. Norges Bank bought a new stake in American Express during the fourth quarter worth $2,464,215,000. Capital World Investors lifted its stake in American Express by 46.7% during the fourth quarter.
American Express has been performing well, with earnings per share beating consensus estimates in the latest quarter. The company reported $4.53 EPS for the quarter, outperforming expectations of $4.41. Revenue also increased by 10.0% year-over-year to $14.99 billion, exceeding analyst estimates of $19.70 billion.