Joabar Raymond (NSE:RYMD), Group President at American Express Co. (NYSE:AXP), recently sold 11,121 shares of the company’s common stock. The shares were sold at an average price of $317.01, amounting to a total transaction value of approximately $3.53 million. The transaction comes as AXP trades near its 52-week high of $326.27, having delivered an impressive 57.59% return over the past year. According to InvestingPro analysis, the company maintains a perfect Piotroski Score of 9, indicating strong financial health. Following the sale, Raymond directly owns 12,745.192 shares of American Express stock. Additionally, Raymond holds indirect ownership of 2,393 shares through a spouse and 250.65 shares through a 401(k) plan. The company, currently valued at $224.4 billion, has maintained dividend payments for 55 consecutive years. Want deeper insights into AXP’s insider trading patterns and financial health? InvestingPro offers comprehensive analysis through its Pro Research Report, available for 1,400+ US stocks.
In other recent news, American Express has made headlines with several significant developments. The financial services giant recently issued $3 billion in new notes, providing the company with additional capital. The offering includes a mix of fixed-to-floating rate notes and floating rate notes due in 2031 and 2036.
In addition to this financial maneuver, American Express announced the departure of Anré Williams, Group President of Enterprise Services. After a notable 35-year tenure, Williams will transition from his role and continue to serve as Senior Executive Advisor until November 2025.
Turning to analyst insights, RBC Capital has shown confidence in American Express by increasing its stock price target from $330.00 to $350.00, maintaining an Outperform rating. This adjustment follows the company’s recent fourth-quarter earnings report, which demonstrated solid core results and a stable credit quality. Similarly, William Blair reiterated its Outperform rating on American Express, highlighting the company’s potential for low- to mid-teens earnings growth.
In another development, President Trump appointed Treasury Secretary Scott Bessent as the acting director of the Consumer Financial Protection Bureau (CFPB), a move expected to impact credit card companies such as American Express. The appointment may result in the halting of certain rulings, including credit card late fee and bank overdraft rules. These are recent developments that investors should consider.
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