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American Express has announced that it is divesting its subsidiary, Accertify, to Accel-KKR. This move will help the company streamline its operations and allow Accertify to become an independent entity. The terms of the deal have not been disclosed. The fraud detection and prevention market is expected to grow to $182.7 billion in 2030, indicating a growing demand for such services. This sale by American Express will help free up capital for the company, and allocate resources to other strategic projects. Accertify is expected to leverage this opportunity and provide innovative solutions for businesses, helping American Express achieve its long-term growth target. The company expects total revenues to grow around 15% year over year in 2023. Shares of American Express have gained 19.4% in the past three months compared with the industry’s growth of 17.8%. American Express currently carries a Zacks Rank #2 (Buy). Some other top-ranked stocks from the finance sector are Cboe Global Markets, Coinbase Global, and Assurant, Inc. Cboe Global delivered a trailing four-quarter average earnings surprise of 4.1%. Coinbase has a decent track record of beating earnings estimates in three of the last four quarters. Estimates for Assurant’s 2024 EPS indicate a year-over-year increase of 4.3%.



Read more: American Express (AXP) Announces Sale of Accertify to Accel-KKR