Christophe Le Caillec, the Chief Financial Officer of American Express Co (NYSE:AXP), recently sold 6,000 shares of the company's common stock. The shares were sold at a weighted average price of approximately $303.48 per share, totaling $1.82 million. This transaction occurred on November 27, 2024, with the stock trading near its 52-week high of $307.82. The company, currently valued at $213 billion, has shown remarkable strength with a 64.58% return year-to-date. According to InvestingPro analysis, AXP's overall financial health is rated as GREAT.
Additionally, Le Caillec exercised stock options to acquire 8,000 shares at a price of $65.43 per share. Following these transactions, Le Caillec holds 6,433.322 shares directly, which includes shares acquired through dividend reinvestment. For deeper insights into American Express's insider trading patterns and comprehensive financial analysis, including 13 additional ProTips, check out the detailed Pro Research Report available on InvestingPro.
In other recent news, American Express reported strong third-quarter earnings, exceeding expectations with an earnings per share (EPS) of $3.49 and revenues totaling $16.6 billion, marking an 8% increase year-over-year. The company also raised its full-year EPS guidance to between $13.75 and $14.05. Alongside these financial developments, American Express acquired full ownership of Swisscard from UBS, following UBS's divestiture of its 50% stake in the joint venture.
Analysts' responses to these developments have been mixed. TD Cowen maintained a hold rating on American Express's shares, raising the price target to $268 from $260. Baird increased its price target for American Express to $240 from $215, while maintaining an underperform rating due to concerns about the company's revenue growth and future outlook. BTIG reiterated its sell rating on American Express, maintaining a $230 price target and expressing skepticism about the company's ability to achieve its 10% year-over-year revenue growth target.
On the credit performance front, American Express disclosed its latest metrics for its U.S. Consumer and U.S. Small Business Card Member lending portfolios. The U.S. Consumer Card Member loans stood at $88 billion as of October 31, 2024, with a delinquency rate of 1.4% for loans 30 days past due. The U.S. Small Business Card Member loans totaled $30.5 billion by the end of October, with a 1.5% delinquency rate for loans 30 days past due. These are part of the recent developments surrounding American Express.
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