Schwerin Boyle Capital Management Inc Lowers stake in American Express Company (AXP)

American Express Company (AXP) : Schwerin Boyle Capital Management Inc reduced its stake in American Express Company by 1.1% during the most recent quarter end. The investment management company now holds a total of 483,285 shares of American Express Company which is valued at $31,597,173 after selling 5,375 shares in American Express Company , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.American Express Company makes up approximately 4.34% of Schwerin Boyle Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Wellington Management Group Llp reduced its stake in AXP by selling 7,180,135 shares or 29.15% in the most recent quarter. The Hedge Fund company now holds 17,452,582 shares of AXP which is valued at $1,141,049,811. American Express Company makes up approx 0.28% of Wellington Management Group Llp’s portfolio.Hsbc Holdings Plc reduced its stake in AXP by selling 10,644 shares or 1.46% in the most recent quarter. The Hedge Fund company now holds 720,130 shares of AXP which is valued at $47,082,099. American Express Company makes up approx 0.15% of Hsbc Holdings Plc’s portfolio.Tci Wealth Advisors reduced its stake in AXP by selling 243 shares or 5.2% in the most recent quarter. The Hedge Fund company now holds 4,434 shares of AXP which is valued at $290,338. American Express Company makes up approx 0.16% of Tci Wealth Advisors’s portfolio.Los Angeles Capital Management Equity Research Inc boosted its stake in AXP in the latest quarter, The investment management firm added 1,600 additional shares and now holds a total of 37,452 shares of American Express Company which is valued at $2,452,357. American Express Company makes up approx 0.02% of Los Angeles Capital Management Equity Research Inc’s portfolio.Diam Ltd. reduced its stake in AXP by selling 6,955 shares or 4.19% in the most recent quarter. The Hedge Fund company now holds 158,907 shares of AXP which is valued at $10,143,034. American Express Company makes up approx 0.15% of Diam Ltd.’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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