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

American Express Company (AXP) : Rafferty Asset Management reduced its stake in American Express Company by 29.36% during the most recent quarter end. The investment management company now holds a total of 86,428 shares of American Express Company which is valued at $5,659,305 after selling 35,917 shares in American Express Company , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.American Express Company makes up approximately 0.36% of Rafferty Asset Management’s portfolio.

Other Hedge Funds, Including , Midwest Investment Management reduced its stake in AXP by selling 850 shares or 3.67% in the most recent quarter. The Hedge Fund company now holds 22,330 shares of AXP which is valued at $1,462,168. American Express Company makes up approx 1.15% of Midwest Investment Management’s portfolio.Strategic Advisors boosted its stake in AXP in the latest quarter, The investment management firm added 2,497 additional shares and now holds a total of 6,575 shares of American Express Company which is valued at $423,956. American Express Company makes up approx 0.24% of Strategic Advisors’s portfolio.Murphy Capital Management Inc reduced its stake in AXP by selling 1,760 shares or 5.93% in the most recent quarter. The Hedge Fund company now holds 27,925 shares of AXP which is valued at $1,800,604. American Express Company makes up approx 0.27% of Murphy Capital Management Inc’s portfolio.Gofen Glossberg Il reduced its stake in AXP by selling 6,446 shares or 1.34% in the most recent quarter. The Hedge Fund company now holds 474,493 shares of AXP which is valued at $29,940,508. American Express Company makes up approx 1.23% of Gofen Glossberg Il’s portfolio.

American Express Company opened for trading at $65.4 and hit $65.85 on the upside on Wednesday, eventually ending the session at $65.68, with a gain of 0.58% or 0.38 points. The heightened volatility saw the trading volume jump to 30,54,603 shares. Company has a market cap of $60,674 M.

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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