Gofen Glossberg Il Lowers stake in American Express Company (AXP)

American Express Company (AXP) : Gofen Glossberg Il reduced its stake in American Express Company by 2.71% during the most recent quarter end. The investment management company now holds a total of 461,631 shares of American Express Company which is valued at $28,574,959 after selling 12,862 shares in American Express Company , the firm said in a disclosure report filed with the SEC on Oct 11, 2016.American Express Company makes up approximately 1.19% of Gofen Glossberg Il’s portfolio.

Other Hedge Funds, Including , Acropolis Investment Management boosted its stake in AXP in the latest quarter, The investment management firm added 525 additional shares and now holds a total of 18,585 shares of American Express Company which is valued at $1,196,131. American Express Company makes up approx 0.22% of Acropolis Investment Management’s portfolio.Indiana Trust Investment Management Co boosted its stake in AXP in the latest quarter, The investment management firm added 100 additional shares and now holds a total of 6,035 shares of American Express Company which is valued at $388,413. American Express Company makes up approx 0.20% of Indiana Trust Investment Management Co’s portfolio.Telemus Capital reduced its stake in AXP by selling 1,160 shares or 14.77% in the most recent quarter. The Hedge Fund company now holds 6,696 shares of AXP which is valued at $430,955. American Express Company makes up approx 0.05% of Telemus Capital’s portfolio.Norman Fields Gottscho Capital Management boosted its stake in AXP in the latest quarter, The investment management firm added 2,340 additional shares and now holds a total of 73,377 shares of American Express Company which is valued at $4,722,544. American Express Company makes up approx 3.15% of Norman Fields Gottscho Capital Management’s portfolio.

American Express Company closed down -1.04 points or -1.68% at $60.86 with 39,26,531 shares getting traded on Tuesday. Post opening the session at $61.53, the shares hit an intraday low of $60.55 and an intraday high of $61.7 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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.

Many Wall Street Analysts have commented on American Express Company. American Express Company was Initiated by Atlantic Equities to “Underweight” on Sep 9, 2016.

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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