Laffer Investments adds American Express Company (AXP) to its portfolio

American Express Company (AXP) : Laffer Investments added new position in American Express Company during the most recent quarter end. The investment management firm now holds 26,819 shares of American Express Company which is valued at $1,753,426 , the company said in a statement filed on Aug 15, 2016 with the SEC.American Express Company makes up approximately 0.55% of Laffer Investments’s portfolio.

Other Hedge Funds, Including , Zions Bancorporation reduced its stake in AXP by selling 279 shares or 29.56% in the most recent quarter. The Hedge Fund company now holds 665 shares of AXP which is valued at $43,478. American Express Company makes up approx 0.01% of Zions Bancorporation’s portfolio.Mitsubishi Ufj Trust Banking Corp reduced its stake in AXP by selling 34,155 shares or 1.47% in the most recent quarter. The Hedge Fund company now holds 2,291,297 shares of AXP which is valued at $149,804,998. American Express Company makes up approx 0.32% of Mitsubishi Ufj Trust Banking Corp’s portfolio.Meiji Yasuda Life Insurance Co reduced its stake in AXP by selling 3,530 shares or 9.27% in the most recent quarter. The Hedge Fund company now holds 34,554 shares of AXP which is valued at $2,259,141. American Express Company makes up approx 0.35% of Meiji Yasuda Life Insurance Co’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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