Institutional Capital Lowers stake in American Express Company (AXP)

American Express Company (AXP) : Institutional Capital reduced its stake in American Express Company by 12.48% during the most recent quarter end. The investment management company now holds a total of 4,341,253 shares of American Express Company which is valued at $283,831,121 after selling 619,156 shares in American Express Company , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.American Express Company makes up approximately 3.30% of Institutional Capital’s portfolio.

Other Hedge Funds, Including , Investment Management Of Virginia boosted its stake in AXP in the latest quarter, The investment management firm added 1,190 additional shares and now holds a total of 67,145 shares of American Express Company which is valued at $4,389,940. American Express Company makes up approx 1.06% of Investment Management Of Virginia’s portfolio.Homrich Berg reduced its stake in AXP by selling 829 shares or 15.95% in the most recent quarter. The Hedge Fund company now holds 4,369 shares of AXP which is valued at $285,645. American Express Company makes up approx 0.03% of Homrich Berg’s portfolio. New Jersey Better Educational Savings Trust added AXP to its portfolio by purchasing 9,000 company shares during the most recent quarter which is valued at $574,470. American Express Company makes up approx 0.37% of New Jersey Better Educational Savings Trust’s portfolio.Herndon Capital Management reduced its stake in AXP by selling 596,282 shares or 34.88% in the most recent quarter. The Hedge Fund company now holds 1,113,031 shares of AXP which is valued at $71,745,978. American Express Company makes up approx 2.62% of Herndon Capital Management’s portfolio.

American Express Company opened for trading at $65 and hit $65.77 on the upside on Monday, eventually ending the session at $65.52, with a gain of 1.13% or 0.73 points. The heightened volatility saw the trading volume jump to 41,73,845 shares. Company has a market cap of $60,526 M.

On the company’s financial health, American Express Company reported $2.10 EPS for the quarter, beating the analyst consensus estimate by $ 0.36 according to the earnings call on Jul 20, 2016. Analyst had a consensus of $1.74. The company had revenue of $8235.00 million for the quarter, compared to analysts expectations of $8341.60 million. The company’s revenue was down -.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.42 EPS.

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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