Stephen J. Squeri, Chairman and CEO of American Express Co. (NYSE:AXP), has sold a significant portion of his holdings in the company. According to a recent SEC filing, Squeri sold a total of 50,841 shares on February 6, 2025. The shares were sold at prices ranging from $318.25 to $320.52, amounting to approximately $16.24 million. The sale comes as American Express stock has shown remarkable strength, delivering a 50.74% return over the past year and trading near its 52-week high of $326.27.
Following these transactions, Squeri retains direct ownership of 92,810 shares. The sales were conducted in multiple transactions, and the weighted average prices were reported in the filing. Additionally, Squeri holds indirect ownership through various entities, including GRAT and a 401(k) Trust.
These transactions come as part of routine financial management for executives, and the details were disclosed to comply with regulatory requirements.
In other recent news, American Express Co. has been the subject of various developments. The company issued $3 billion in new notes, as per a recent SEC filing, to bolster its capital structure. This includes different types of notes maturing between 2031 and 2036. Additionally, an executive departure was announced with Anré Williams, Group President of Enterprise Services, set to leave his role in February 2025.
Analysts have also provided their insights on the company’s performance. RBC Capital Markets increased its price target for American Express from $330.00 to $350.00, maintaining an Outperform rating. This follows the company’s recent fourth-quarter earnings report, which showcased an increase in revenue and spending activity. Similarly, William Blair reiterated its Outperform rating on American Express stock, highlighting the company’s potential for low- to mid-teens earnings growth.
In government-related news, Treasury Secretary Scott Bessent has been appointed as the acting director of the Consumer Financial Protection Bureau (CFPB). This move could lead to the halting of certain rulings, potentially impacting credit card companies such as American Express. TD Cowen analyst Jaret Saiberg noted that the selection of deputies under Bessent’s leadership could play a crucial role in the future actions of the agency. These developments have taken place recently, providing investors with a snapshot of the company’s current standing.
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