As Dow closed higher than 13000 for the first ever today, it is getting more difficult for value seekers to find bargains. As we update the latest Gurus and Insiders’ news buys, American Express Co. (AXP, Financial) pops up as one of stocks that both Gurus and Insiders are buying.
Wallace Weitz, known as the other Oracle of Omaha, bought American Express during the first quarter of 2007. Regarding to this purchase, he commented: “American Express returned to our portfolios this year. Amex is a great business with a dominant payments franchise, a wonderful consumer brand, and an entrenched competitive position. The business earns over 30% on equity, has high-return reinvestment opportunities and returns substantial amounts of cash to shareholders through dividends and share repurchases.”
We all know that American Express is one of the largest holdings in Warren Buffett’s Portfolio. Warren Buffett owns more than 150 million shares of Amex, which accounts for 17% of his total equity portfolio, just behind Coca-Cola (KO, Financial). Amex is also in the portfolio of Joel Greenblatt and 8 other Gurus. It is a new position for Richard Pzena, who bought it during the fourth quarter of 2006.
American Express is clearly a favorite of insiders. During the past 3 months, 5 directors bought Amex shares. Most recently, just yesterday (04/24), Director Robert Walter bought 20,000 shares at $60.78, bringing his total holdings to 130,300 shares. On March 5, Director Ursula Burns bought 2000 shares at $55.84, before that he bought another 2000 shares at $58.48. 3 other directors bought at least 2000 shares each at market prices during the past 3 months.
As of today, American Express closed at $62.32, up 2.31%. It has a market cap of $74 billion, with a forward P/E of 16.
Read this to find out why we think that stocks bought by both Gurus and Insiders are interesting. To find out more about the stocks that both Gurus and Insiders are buying, Premium Members can use the Triple Buys screener, which also includes company buyback as screening criteria. If you are not a Premium Members we invite you for a 7-day Free Trial.
Wallace Weitz, known as the other Oracle of Omaha, bought American Express during the first quarter of 2007. Regarding to this purchase, he commented: “American Express returned to our portfolios this year. Amex is a great business with a dominant payments franchise, a wonderful consumer brand, and an entrenched competitive position. The business earns over 30% on equity, has high-return reinvestment opportunities and returns substantial amounts of cash to shareholders through dividends and share repurchases.”
We all know that American Express is one of the largest holdings in Warren Buffett’s Portfolio. Warren Buffett owns more than 150 million shares of Amex, which accounts for 17% of his total equity portfolio, just behind Coca-Cola (KO, Financial). Amex is also in the portfolio of Joel Greenblatt and 8 other Gurus. It is a new position for Richard Pzena, who bought it during the fourth quarter of 2006.
American Express is clearly a favorite of insiders. During the past 3 months, 5 directors bought Amex shares. Most recently, just yesterday (04/24), Director Robert Walter bought 20,000 shares at $60.78, bringing his total holdings to 130,300 shares. On March 5, Director Ursula Burns bought 2000 shares at $55.84, before that he bought another 2000 shares at $58.48. 3 other directors bought at least 2000 shares each at market prices during the past 3 months.
As of today, American Express closed at $62.32, up 2.31%. It has a market cap of $74 billion, with a forward P/E of 16.
Read this to find out why we think that stocks bought by both Gurus and Insiders are interesting. To find out more about the stocks that both Gurus and Insiders are buying, Premium Members can use the Triple Buys screener, which also includes company buyback as screening criteria. If you are not a Premium Members we invite you for a 7-day Free Trial.
