NEW YORK—Radhakrishnan Ravikumar, Chief Information Officer of American Express Co (NYSE:AXP), recently sold a significant portion of company stock, according to a filing with the Securities and Exchange Commission. On February 5, Ravikumar sold 9,485 shares of American Express at a weighted average price of $319.17 per share, totaling approximately $3.03 million. The transaction comes as American Express, now valued at $224.43 billion, trades near its 52-week high of $326.27, having delivered an impressive 57.59% return over the past year.
Following this transaction, Ravikumar retains ownership of 13,500.306 shares of the company. The shares were sold in multiple transactions at prices ranging from $318.91 to $319.39. Ravikumar has committed to providing detailed information about the number of shares sold at each price upon request.
This transaction is part of the routine financial activities of company executives and reflects personal financial decisions. American Express continues its operations in the finance services sector, with its headquarters located in New York.
In other recent news, American Express has undergone several significant developments. The company has issued $3 billion in new notes, providing additional capital for the financial services giant. This offering includes different types of notes due in 2031 and 2036, according to a recent SEC filing.
Furthermore, Anré Williams, Group President of Enterprise Services, is set to depart from American Express after a notable 35-year tenure. The company has not yet named a successor for Williams, who will continue to serve as Senior Executive Advisor until November 2025.
On the analyst front, RBC Capital Markets has increased its price target for American Express from $330.00 to $350.00, reiterating an Outperform rating on the stock. This adjustment follows the company’s recent fourth-quarter earnings report, which RBC Capital analyzed, highlighting several key performance indicators. Similarly, William Blair maintained its Outperform rating on American Express stock, with analyst Robert Napoli highlighting the company’s potential for low- to mid-teens earnings growth.
Lastly, President Trump’s appointment of Treasury Secretary Scott Bessent as the acting director of the Consumer Financial Protection Bureau (CFPB) is expected to impact credit card companies such as American Express. This development could lead to the halting of certain rulings including the credit card late fee and bank overdraft rules, as the agency is predicted to withdraw its defense of these.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.