Is it a good time to sell American Express Company [AXP] shares after an insider sold 22,841 shares?


American Express Company’s filing revealed that its Chief Colleague Experience Off Herena Monique unloaded Company’s shares for reported $3.49 million on May 19. In the deal valued at $152.84 per share,22,841 shares were sold. As a result of this transaction, Herena Monique now holds 13,770 shares worth roughly $ 2.2 million.

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Then, Grosfield Howard sold 5,456 shares, generating $952,187 in total proceeds. Upon selling the shares at $174.52, the President, U.S. Consumer Serv now owns 7,045 shares.

Before that, Herena Monique sold 15,217 shares. American Express Company shares valued at $2,635,280 were divested by the Chief Colleague Experience Off at a price of $173.18 per share. As a result of the transaction, Herena Monique now holds 13,712 shares, worth roughly $2.19 million.

RBC Capital Mkts upgraded its American Express Company [AXP] rating to an Outperform from a a Sector perform in a research note published on Tuesday, September 05, 2023; the price target was increased to $200 from $197. PT values the company’s stock at a premium of 20.0 to its Tuesday closing price.

Price Performance Review of AXP

On Tuesday, American Express Company [NYSE:AXP] saw its stock jump 0.24% to $160.00. On the same session, the stock had its day’s lowest price of $159.35, but rose to a high of $161.86. Over the last five days, the stock has gained 0.51%. American Express Company shares have risen nearly 8.29% since the year began. Nevertheless, the stocks have risen 5.88% over the past one year. While a 52-week high of $182.15 was reached on 02/14/23, a 52-week low of $130.65 was recorded on 01/19/23. SMA at 50 days reached $166.90, while 200 days put it at $162.43. A total of 4.15 million shares were traded, compared to the trading of 2.2 million shares in the previous session.

Levels Of Support And Resistance For AXP Stock

The 24-hour chart illustrates a support level at 158.95, which if violated will result in even more drops to 157.89. On the upside, there is a resistance level at 161.46. A further resistance level may holdings at 162.91. The Relative Strength Index (RSI) on the 14-day chart is 43.02, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.39, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 52.57%. Stochastics %K at 36.22% indicates the stock is a holding.

How much short interest is there in American Express Company?

A steep rise in short interest was recorded in American Express Company stocks on Aug 14, 2023, growing by 0.27 million shares to a total of 6.76 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 6.49 million shares. There was a rise of 3.99%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 1.16% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.27.

American Express Company [AXP] – Who Are The Largest Shareholders?

In filings from Berkshire Hathaway, Inc., it is revealed that the company now owns 151,610,700 shares, or roughly 20.59% of the outstanding AXP shares. Additionally, The Vanguard Group, Inc. decreased -0.53% of its stake after which the total value it holdings stand at $7,591,894,681, while SSgA Funds Management, Inc. added 1.70% of its stake to hold $5.12 billion in the firm. Over the last quarter, BlackRock Fund Advisors sold -148,507 shares of American Express Company, while Wellington Management Co. LLP sold 1,133,276 shares. At present, JPMorgan Investment Management, I is holding 13,997,882 shares valued at $2.36 billion. Massachusetts Financial Services owned 12,024,551 shares of the company at the time of its most recent 13F filing, worth $2.03 billion.

According to FactSet, American Express Company’s share price will average $183.24 in the next year, based on opinions of analysts polled by the firm. This is up nearly 17.78 percent from its previous closing price of $159.62. Analysts expect American Express Company stock to reach the higher price of $220.00, while the lowest price estimate is $125.00. However, 27 analysts have rated AXP stock as an Overweight in their predictions for 2023.


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