Saudi Central Bank Grows Holdings in American Express Company $AXP

The Saudi Central Bank significantly increased its stake in American Express Company (AXP) by 82.9% in the second quarter, bringing its total holdings to 37,204 shares valued at $12.6 million. This investment comes as American Express reported strong quarterly earnings, surpassing analyst expectations with $4.53 EPS and a 10% year-over-year revenue increase to $19.64 billion. Analysts currently maintain a "Moderate Buy" rating for AXP, with an average price target of $373.32.