Foster Group Inc. Increases Stake in American Express

Foster Group Inc. has increased its stake in American Express by 0.5% in the second quarter, according to a recent filing with the Securities & Exchange Commission. The fund now owns 25,713 shares of American Express, worth $4.48 million.

Several other hedge funds have also made modifications to their holdings of American Express, indicating a growing interest in the payment services company. Moneta Group Investment Advisors LLC now owns over 13.7 million shares of American Express, valued at $2.03 billion. Norges Bank also purchased a new stake in American Express valued at around $911.5 million.

Wall Street analysts have weighed in on American Express stock, with varying opinions. Redburn Partners downgraded the stock from neutral to sell, while Oppenheimer raised their price target. Despite the mixed ratings, American Express currently has an average rating of “Hold” and an average target price of $173.06.

American Express has had a strong performance, with its stock hitting $163.75 during midday trading. The company has a 12-month low of $130.65 and a 12-month high of $182.15. Its market cap stands at $120.6 billion.

In terms of financials, American Express reported $2.89 earnings per share for the quarter, beating the consensus estimate of $2.81. The company had revenue of $15.05 billion for the quarter, up 12.4% from the same period last year.

American Express is a global payment services company that offers charge and credit payment card products, as well as travel-related services. Its product and service offerings include payment and financing products, network services, and travel and lifestyle services.


  • Foster Group Inc. SEC filing