Waverton Investment Management Ltd Lowers stake in American Express Company (AXP)

American Express Company (AXP) : Waverton Investment Management Ltd reduced its stake in American Express Company by 0.96% during the most recent quarter end. The investment management company now holds a total of 413,638 shares of American Express Company which is valued at $25,174,009 after selling 4,022 shares in American Express Company , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.American Express Company makes up approximately 1.70% of Waverton Investment Management Ltd’s portfolio.

Other Hedge Funds, Including , Maple Securities Usa Inc sold out all of its stake in AXP during the most recent quarter. The investment firm sold 36,873 shares of AXP which is valued $2,282,439.Independent Portfolio Consultants reduced its stake in AXP by selling 630 shares or 5.91% in the most recent quarter. The Hedge Fund company now holds 10,033 shares of AXP which is valued at $645,724. American Express Company makes up approx 0.20% of Independent Portfolio Consultants’s portfolio.West Oak Capital boosted its stake in AXP in the latest quarter, The investment management firm added 385 additional shares and now holds a total of 20,370 shares of American Express Company which is valued at $1,311,013. American Express Company makes up approx 0.91% of West Oak Capital’s portfolio.Bath Savings Trust Co boosted its stake in AXP in the latest quarter, The investment management firm added 117 additional shares and now holds a total of 4,374 shares of American Express Company which is valued at $281,511. American Express Company makes up approx 0.09% of Bath Savings Trust Co’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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