Representative Lisa C. McClain (R-Michigan) recently sold shares of American Express Company (NYSE: AXP), according to a filing made public on November 21, 2023. The transaction, which took place on October 31, 2023, involved the sale of stock valued between $1,001 and $15,000. The shares were sold through her “CHARLES SCHWAB 401K > SCHWAB 893” account.
The sale comes amid a notable trading period for American Express stock. On the day of the filing, AXP shares rose by $1.62 during midday trading, reaching a price of $364.26. In total, 1,666,371 shares changed hands, compared to an average volume of 2,830,923. The company currently boasts a market capitalization of $250.92 billion and has a price-to-earnings (P/E) ratio of 24.45.
American Express Stock Performance and Dividend Announcements
American Express also declared a quarterly dividend of $0.82, which was paid on November 10, 2023. Investors of record on October 10, 2023 received this dividend, representing an annualized yield of 0.9% and a dividend payout ratio (DPR) of 22.01%.
The stock has a 52-week range showing a low of $220.43 and a high of $377.23. The current ratio stands at 1.61, while the quick ratio is at 1.59, and the debt-to-equity ratio is 1.78. The stock’s moving averages are recorded at $346.68 for 50 days and $321.77 for 200 days.
Analyst Ratings and Insider Activity
Recent research reports have provided varying insights on American Express stock. BTIG Research increased its price target from $277.00 to $307.00, maintaining a “sell” rating. Conversely, Wells Fargo & Company raised its target from $375.00 to $400.00 and assigned an “overweight” rating. Other firms, including UBS Group, Morgan Stanley, and Evercore ISI, have also adjusted their price targets and ratings, reflecting a consensus rating of “Hold” with an average target price of $332.65.
In addition to McClain’s sale, other insider transactions have occurred. Stephen J. Squeri, CEO of American Express, sold 112,272 shares on September 4, 2023, at an average price of $329.86, totaling approximately $37 million. Following this sale, Squeri retained 92,810 shares, valued at about $30.61 million. Similarly, insider Denise Pickett sold 5,000 shares on October 22, 2023, for a total of $1.75 million.
Over the past three months, insiders sold a total of 193,292 shares, valued at $65.36 million. Institutional investors hold a significant majority of American Express’s stock, amounting to 84.33% of total shares.
Lisa McClain is serving her first term in the U.S. House, having assumed office on January 3, 2023. She represents Michigan’s 9th Congressional District and is currently running for re-election in the 2026 election.
