Michael J. Angelakis, a director at American Express Co. (NYSE:AXP), made a significant purchase of company stock, according to a recent filing. The timing is notable as InvestingPro data shows the stock has declined nearly 8% in the past week, with its RSI suggesting oversold conditions. On March 7, Angelakis acquired 3,700 shares of American Express common stock at a price of $269.89 per share, totaling approximately $998,593. This transaction increases his direct ownership in the company to 3,700 shares. Angelakis’s investment underscores his confidence in the company’s prospects as American Express continues to navigate the financial services landscape. The company maintains strong fundamentals with an "GOOD" Financial Health score from InvestingPro, and has demonstrated commitment to shareholder returns through 55 consecutive years of dividend payments. According to InvestingPro’s Fair Value analysis, the stock currently appears slightly undervalued, suggesting potential upside from current levels.Get access to 10+ additional InvestingPro Tips and comprehensive insider trading analysis for American Express and 1,400+ other stocks through the detailed Pro Research Reports available on InvestingPro.
In other recent news, American Express has announced a 17% increase in its quarterly dividend, raising it by $0.12 to $0.82 per common share, effective May 9, 2025. This decision aligns with the company’s strategy and reflects its financial performance and commitment to delivering value to investors. Additionally, American Express has issued $3 billion in new notes as part of its broader financing strategy. The issuance includes $1.45 billion of 5.085% fixed-to-floating rate notes due in 2031, $1.25 billion of 5.442% fixed-to-floating rate notes maturing in 2036, and $300 million of floating rate notes due in 2031. Furthermore, American Express has appointed Michael Angelakis, Chairman and CEO of Atairos, to its Board of Directors. Angelakis will also serve on the company’s Audit and Compliance Committee and the Nominating, Governance and Public Responsibility Committee. His extensive experience in corporate finance and strategic investments is expected to contribute to the company’s growth strategy. These developments are based on press releases and filings from American Express.
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