Sagespring Wealth Partners LLC Acquires 3,468 Shares of HSBC Holdings plc $HSBC

Sagespring Wealth Partners LLC lifted its position in shares of HSBC Holdings plc (NYSE:HSBC) by 21.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,950 shares of the financial services provider’s stock after acquiring an additional 3,468 shares during the period. Sagespring Wealth Partners LLC’s holdings in HSBC were worth $1,213,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. TD Private Client Wealth LLC lifted its holdings in shares of HSBC by 101.7% during the 2nd quarter. TD Private Client Wealth LLC now owns 464 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 234 shares during the period. Wayfinding Financial LLC bought a new stake in shares of HSBC during the 1st quarter worth approximately $30,000. Opal Wealth Advisors LLC bought a new stake in shares of HSBC during the 2nd quarter worth approximately $31,000. Raleigh Capital Management Inc. bought a new stake in shares of HSBC during the 2nd quarter worth approximately $33,000. Finally, Ameritas Advisory Services LLC bought a new stake in shares of HSBC during the 2nd quarter worth approximately $39,000. Institutional investors own 1.48% of the company’s stock.

HSBC Trading Down 0.7%

Shares of NYSE HSBC opened at $66.39 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.86. HSBC Holdings plc has a 52-week low of $43.97 and a 52-week high of $72.21. The firm has a 50 day moving average price of $67.20 and a two-hundred day moving average price of $61.39. The stock has a market cap of $229.08 billion, a P/E ratio of 13.15, a price-to-earnings-growth ratio of 1.69 and a beta of 0.62.

HSBC (NYSE:HSBC) last announced its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.33. HSBC had a net margin of 13.48% and a return on equity of 12.73%. The firm had revenue of $16.90 billion during the quarter, compared to analysts’ expectations of $16.64 billion. As a group, equities analysts forecast that HSBC Holdings plc will post 6.66 EPS for the current year.

HSBC Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, August 15th were given a $0.495 dividend. This represents a $1.98 annualized dividend and a yield of 3.0%. The ex-dividend date was Friday, August 15th. HSBC’s dividend payout ratio is 39.21%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on HSBC. Weiss Ratings reaffirmed a “hold (c)” rating on shares of HSBC in a report on Wednesday, October 8th. Citigroup reissued a “buy” rating on shares of HSBC in a research note on Monday, September 22nd. BNP Paribas Exane raised shares of HSBC from an “underperform” rating to an “outperform” rating in a research note on Friday, September 5th. Jefferies Financial Group reissued a “hold” rating on shares of HSBC in a research note on Friday, October 10th. Finally, BNP Paribas raised shares of HSBC from a “strong sell” rating to a “strong-buy” rating in a research note on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $63.00.

HSBC Profile

HSBC Holdings plc provides banking and financial services worldwide. The company operates through Wealth and Personal Banking, Commercial Banking, and Global Banking and Markets segments. The Wealth and Personal Banking segment offers retail banking and wealth products, including current and savings accounts, mortgages and personal loans, credit and debit cards, and local and international payment services; and wealth management services comprising insurance and investment products, global asset management services, investment management, and private wealth solutions.