5 Stocks to Buy in 2021 According to Guy Spier’s Aquamarine Capital

2. American Express Company (NYSE:AXP)

Spier’s Stake Value: $34,698,000
Percentage of Guy Spier’s 13F Portfolio: 16.27%
Number of Hedge Fund Holders: 52

On October 16, BofA analyst Mihir Bhatia upgraded American Express Company (NYSE:AXP) to “Neutral” from “Underperform” and gave a price target of $169. In September, American Express Company (NYSE:AXP) declared a quarterly dividend of $0.43 per share, in line with the previous.

American Express Company (NYSE:AXP) stock accounts for about 16.27% of Aquamarine Capital’s portfolio, as the hedge fund owns a $34.70 million stake in the company.

In its second-quarter 2021 investor letter, ClearBridge Investments, an investment management firm, mentioned American Express Company (NYSE:AXP). Here is what the fund said:

“In financials, American Express has done an excellent job demonstrating the resiliency of its franchise in the midst of a global pandemic that drove a 60% decline in its core travel and entertainment business. The company’s spend-centric model has been helped by fiscal stimulus ensuring a flush consumer, while management continues to execute well by adding millions of new consumer and small and medium business accounts, which should benefit the franchise over the medium to long term. We remain optimistic regarding the company’s prospects as travel and entertainment activity rebounds, adding to our position in the quarter.”