Hedge fund millionaires and Wall Street analysts have issued numerous warnings about the stock market’s oncoming demise. Carl Icahn, the billionaire founder of Icahn Capital LP, told CNBC on March 23 that there “may very well be a recession or even worse.” In February, the United States’ inflation rate was close to 8%, a high not seen in nearly four decades. Berkshire Hathaway Inc. and JPMorgan Chase & Co. are two of the best finance stocks to buy during interest rate hikes.
Insider Monkey identified the 10 finance stocks to buy during interest rate hikes. PNC Financial Services Group, Inc. is a financial services company that provides a variety of services. The stock is bullishly held by elite hedge funds. At the conclusion of the fourth quarter of 2021, 40 hedge funds had positions in the company worth $663 million. Brian Bedell of Deutsche Bank maintained a Buy rating on the company with a $1,024 price objective. 49 hedge funds held $1.4 billion in BlackRock, Inc. at the end of the fourth quarter of 2021. SVB Financial Group is a financial services conglomerate. The company is heavily invested in by major hedge funds. With 595,771 shares worth more than $404 million, Fisher Asset Management is the largest shareholder in SVB Financial Group. The American Express Company is a payment and travel services provider. The stock has a Buy rating from Bank of America analyst Mihir Bhatia. With 15.7 million shares worth more than $2.5 billion, Fisher Asset Management is the largest stakeholder. At the end of the fourth quarter of 2021, 65 hedge funds in Insider Monkey’s database had positions in Morgan Stanley totaling $4.5 billion. Morgan Stanley’s stock maintains an Overweight rating from Barclays, with a price objective of $123 up from $110. For more details, click 10 Finance Stocks to Buy During Interest Rate Hikes.
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