Were Hedge Funds Right About Piling Into American Express Company?

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The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. Insider Monkey finished processing 887 13F filings submitted by hedge funds and prominent investors. These filings show these funds’ portfolio positions as of December 31st, 2020. What do these smart investors think about American Express Company (NYSE:AXP)?

Is American Express Company ready to rally soon? The best stock pickers were turning bullish. The number of bullish hedge fund positions rose by 12 in recent months. American Express Company was in 60 hedge funds’ portfolios at the end of December. The all-time high for this statistic was previously 58. This means the bullish number of hedge fund positions in this stock currently sits at its all time high. Our calculations also showed that AXP isn’t among the 30 most popular stocks among hedge funds (click for Q4 rankings).

Let’s take a gander at the recent hedge fund action encompassing American Express Company.

Do Hedge Funds Think AXP Is A Good Stock To Buy Now?

At the end of December, a total of 60 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 25% from the third quarter of 2020. By comparison, 58 hedge funds held shares or bullish call options in AXP a year ago. So, let’s review which hedge funds were among the top holders of the stock and which hedge funds were making big moves.

Is AXP A Good Stock To Buy?

When looking at the institutional investors followed by Insider Monkey, Warren Buffett’s Berkshire Hathaway has the most valuable position in American Express Company, worth close to $18.3312 billion, amounting to 6.8% of its total 13F portfolio. Sitting at the No. 2 spot is Ken Fisher of Fisher Asset Management, with a $1.8115 billion position; 1.4% of its 13F portfolio is allocated to the stock. Remaining professional money managers with similar optimism comprise Andreas Halvorsen’s Viking Global, Eashwar Krishnan’s Tybourne Capital Management and Mario Gabelli’s GAMCO Investors. In terms of the portfolio weights assigned to each position Aquamarine Capital Management allocated the biggest weight to American Express Company, around 14.81% of its 13F portfolio. Hi-Line Capital Management is also relatively very bullish on the stock, setting aside 7.57 percent of its 13F equity portfolio to AXP.

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