Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

American Express executive sells shares worth $21 million

Published 24/10/2024, 20:30
© Reuters.
AXP
-

Anre D. Williams, Group President of Enterprise Services at American Express Co. (NYSE:AXP), recently sold 77,887 shares of the company's common stock. The shares were sold at an average price of $270.26, totaling approximately $21 million.

In addition to the sale, Williams exercised stock options for a total of 107,256 shares at prices ranging from $100.96 to $153.35. These transactions were part of a series of option exercises and subsequent sales conducted on October 22, 2024.

Following these transactions, Williams now directly owns 111,655.661 shares of American Express common stock.

In other recent news, American Express reported robust Q3 results, with earnings per share reaching $3.49 and revenues totaling $16.6 billion, an 8% increase year-over-year. The company also raised its full-year EPS guidance to between $13.75 and $14.05. This financial performance was recognized by TD Cowen, which maintained a Hold rating but increased the stock's price target to $268, and Baird, which kept an Underperform rating but raised its target to $240.

On the other hand, BTIG reiterated its Sell rating on American Express and maintained a $230.00 price target, expressing skepticism about the company's ability to achieve its 10% year-over-year revenue growth target. In a significant business transaction, UBS divested its 50% stake in Swisscard to American Express, marking a major shift in Swisscard's ownership. These are recent developments that highlight the dynamic changes within the financial industry.

InvestingPro Insights

As Anre D. Williams makes significant moves with his American Express (NYSE:AXP) holdings, it's worth examining the company's current financial standing. According to InvestingPro data, American Express boasts a substantial market capitalization of $189.83 billion, underlining its position as a major player in the financial services sector.

The company's P/E ratio stands at 19.81, which, when considered alongside an InvestingPro Tip noting that AXP is "trading at a low P/E ratio relative to near-term earnings growth," suggests potential value for investors. This is further supported by the company's PEG ratio of 0.72, indicating that the stock may be undervalued relative to its growth prospects.

Another InvestingPro Tip highlights that American Express has "maintained dividend payments for 54 consecutive years," demonstrating a strong commitment to shareholder returns. This is complemented by a current dividend yield of 1.03% and an impressive dividend growth rate of 16.67% over the last twelve months.

For investors seeking more comprehensive insights, InvestingPro offers 11 additional tips for American Express, providing a deeper understanding of the company's financial health and market position.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.