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 (TSX: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.
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