Fisher Asset Management Lowers stake in American Express Company (AXP)

American Express Company (AXP) : Fisher Asset Management reduced its stake in American Express Company by 10.24% during the most recent quarter end. The investment management company now holds a total of 10,532,878 shares of American Express Company which is valued at $651,985,148 after selling 1,201,264 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 1.20% of Fisher Asset Management’s portfolio.

Other Hedge Funds, Including , Gradient Investments boosted its stake in AXP in the latest quarter, The investment management firm added 119 additional shares and now holds a total of 539 shares of American Express Company which is valued at $33,364.Exxonmobil Investment Management Inc Tx reduced its stake in AXP by selling 11,115 shares or 5.31% in the most recent quarter. The Hedge Fund company now holds 198,134 shares of AXP which is valued at $12,236,756. American Express Company makes up approx 0.26% of Exxonmobil Investment Management Inc Tx’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in AXP in the latest quarter, The investment management firm added 270,080 additional shares and now holds a total of 972,828 shares of American Express Company which is valued at $62,611,210. American Express Company makes up approx 0.26% of Bnp Paribas Arbitrage Sa’s portfolio.Beacon Financial Group boosted its stake in AXP in the latest quarter, The investment management firm added 1,635 additional shares and now holds a total of 12,445 shares of American Express Company which is valued at $800,960. American Express Company makes up approx 0.17% of Beacon Financial Group’s portfolio.Cacti Asset Management boosted its stake in AXP in the latest quarter, The investment management firm added 24,065 additional shares and now holds a total of 548,382 shares of American Express Company which is valued at $35,293,866. American Express Company makes up approx 3.59% of Cacti Asset 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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