American Express Company (AXP) : Ruane Cunniff Goldfarb Inc reduced its stake in American Express Company by 15.99% during the most recent quarter end. The investment management company now holds a total of 1,072,828 shares of American Express Company which is valued at $68,650,264 after selling 204,192 shares in American Express Company , the firm said in a disclosure report filed with the SEC on Jul 15, 2016.American Express Company makes up approximately 0.63% of Ruane Cunniff Goldfarb Inc’s portfolio.
Other Hedge Funds, Including , Acropolis Investment Management reduced its stake in AXP by selling 640 shares or 3.42% in the most recent quarter. The Hedge Fund company now holds 18,060 shares of AXP which is valued at $1,155,659. American Express Company makes up approx 0.21% of Acropolis Investment Management’s portfolio.Nn Investment Partners Holdings N.v. reduced its stake in AXP by selling 40,090 shares or 88.64% in the most recent quarter. The Hedge Fund company now holds 5,139 shares of AXP which is valued at $324,271.Douglass Winthrop Advisors reduced its stake in AXP by selling 50,100 shares or 11.72% in the most recent quarter. The Hedge Fund company now holds 377,333 shares of AXP which is valued at $23,809,712. American Express Company makes up approx 1.74% of Douglass Winthrop Advisors’s portfolio.Cacti Asset Management boosted its stake in AXP in the latest quarter, The investment management firm added 1,390 additional shares and now holds a total of 524,317 shares of American Express Company which is valued at $31,820,799. American Express Company makes up approx 3.45% of Cacti Asset Management’s portfolio.
American Express Company opened for trading at $63.96 and hit $64.12 on the upside on Monday, eventually ending the session at $63.99, with a gain of 0.33% or 0.21 points. The heightened volatility saw the trading volume jump to 32,59,978 shares. Company has a market cap of $60,857 M.
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.
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 .
American Express Company is a global services company. The Companys principal products and services are charge and credit payment card products and travel-related services offered to consumers and businesses around the world. The Companys segments include U.S. Card Services International Card Services Global Commercial Services and Global Network & Merchant Services. The Companys 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.