Guardian Investment Management Lowers stake in American Express Company (AXP)

American Express Company (AXP) : Guardian Investment Management reduced its stake in American Express Company by 7.93% during the most recent quarter end. The investment management company now holds a total of 29,764 shares of American Express Company which is valued at $1,945,970 after selling 2,563 shares in American Express Company , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.American Express Company makes up approximately 2.22% of Guardian Investment Management’s portfolio.

Other Hedge Funds, Including , Wealthtrust Fairport reduced its stake in AXP by selling 36,014 shares or 89.92% in the most recent quarter. The Hedge Fund company now holds 4,039 shares of AXP which is valued at $264,070. American Express Company makes up approx 0.03% of Wealthtrust Fairport’s portfolio.Rhumbline Advisers boosted its stake in AXP in the latest quarter, The investment management firm added 28,541 additional shares and now holds a total of 1,266,178 shares of American Express Company which is valued at $82,782,718. American Express Company makes up approx 0.24% of Rhumbline Advisers’s portfolio.Holowesko Partners Ltd. boosted its stake in AXP in the latest quarter, The investment management firm added 254,400 additional shares and now holds a total of 774,400 shares of American Express Company which is valued at $50,978,752. American Express Company makes up approx 4.04% of Holowesko Partners Ltd.’s portfolio.Rfg Advisory Group boosted its stake in AXP in the latest quarter, The investment management firm added 285 additional shares and now holds a total of 6,353 shares of American Express Company which is valued at $405,512. American Express Company makes up approx 0.35% of Rfg Advisory Group’s portfolio.Everence Capital Management Inc boosted its stake in AXP in the latest quarter, The investment management firm added 1,600 additional shares and now holds a total of 18,820 shares of American Express Company which is valued at $1,201,281. American Express Company makes up approx 0.36% of Everence Capital Management Inc’s portfolio.

American Express Company closed down -0.72 points or -1.10% at $64.86 with 36,57,718 shares getting traded on Thursday. Post opening the session at $65.55, the shares hit an intraday low of $64.42 and an intraday high of $65.64 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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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