Saudi Central Bank Boosts Holdings in American Express

Saudi Central Bank significantly increased its holdings in American Express Company during the second quarter, with a purchase of an additional 16,863 shares. This marks an 82.9% increase in the bank's stake in AXP. The new total stands at 37,204 shares, valued at $12,584,000.

According to Form 13F filings with the Securities and Exchange Commission, Saudi Central Bank now owns a substantial portion of American Express stock. This is not an isolated instance, as other large investors have also recently made significant changes to their positions in AXP.