Gm Advisory Group buys $3.5 Million stake in American Express Company (AXP)

American Express Company (AXP) : Gm Advisory Group scooped up 22,684 additional shares in American Express Company during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 53,862 shares of American Express Company which is valued at $3.5 Million.American Express Company makes up approximately 1.49% of Gm Advisory Group’s portfolio.

Other Hedge Funds, Including , Segment Wealth Management sold out all of its stake in AXP during the most recent quarter. The investment firm sold 3,389 shares of AXP which is valued $217,303.Coronation Asset Management (pty) Ltd. reduced its stake in AXP by selling 23,597 shares or 4.41% in the most recent quarter. The Hedge Fund company now holds 511,339 shares of AXP which is valued at $32.8 Million. American Express Company makes up approx 1.42% of Coronation Asset Management (pty) Ltd.’s portfolio.Alerus Investment Advisors Corp boosted its stake in AXP in the latest quarter, The investment management firm added 343 additional shares and now holds a total of 46,098 shares of American Express Company which is valued at $3 Million. American Express Company makes up approx 0.52% of Alerus Investment Advisors Corp’s portfolio. Horan Capital Advisors. sold out all of its stake in AXP during the most recent quarter. The investment firm sold 31,715 shares of AXP which is valued $2.1 Million.

American Express Company closed down -0.05 points or -0.08% at $64.07 with 48,79,519 shares getting traded on Monday. Post opening the session at $64.02, the shares hit an intraday low of $63.67 and an intraday high of $64.3 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, American Express Company reported $1.45 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on Apr 20, 2016. Analyst had a consensus of $1.34. The company had revenue of $8088.00 million for the quarter, compared to analysts expectations of $8085.90 million. The company’s revenue was down -2.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.48 EPS.

Investors should note that on May 3, 2016, American Express Company announced a cash dividend of $0.2900. The company’s management has announced Jun 29, 2016 as the ex-dividend date and fixed the record date on Jul 1, 2016. The payable date has been fixed on Aug 10, 2016.

Many Wall Street Analysts have commented on American Express Company. Company shares were Reiterated by DA Davidson on Apr 21, 2016 to “Neutral”, Firm has raised the Price Target to $ 67 from a previous price target of $66 .Compass Point Initiated American Express Company on Apr 15, 2016 to “Buy”, Price Target of the shares are set at $69.Shares were Reiterated by Barclays on Mar 11, 2016 to “Equal Weight” and Lowered the Price Target to $ 63 from a previous price target of $77 .

American Express Company is a global services company. The Company’s principal products and services are charge and credit payment card products and travel-related services offered to consumers and businesses around the world. The Company’s segments include U.S. Card Services International Card Services Global Commercial Services and Global Network & Merchant Services. The Company’s United States banking subsidiaries Centurion Bank and AEBFSB issue a range of Card products and services. It also issues its charge and credit Cards around the world either on its own or as cobrands with partnering institutions. The Company provides expense management and travel services to companies and organizations through its Global Corporate Payments and Global Business Travel businesses. The Global Network & Merchant Services (GNMS) segment operates a global payments network that processes and settles card transactions.

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