World Investment Advisors boosted its holdings in HSBC Holdings plc (NYSE:HSBC – Free Report) by 148.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 11,302 shares of the financial services provider’s stock after buying an additional 6,744 shares during the quarter. World Investment Advisors’ holdings in HSBC were worth $889,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Transamerica Financial Advisors LLC increased its position in shares of HSBC by 287.1% in the fourth quarter. Transamerica Financial Advisors LLC now owns 329 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 244 shares during the last quarter. Measured Wealth Private Client Group LLC bought a new position in shares of HSBC in the 3rd quarter worth $26,000. Binnacle Investments Inc raised its position in shares of HSBC by 80.5% during the 3rd quarter. Binnacle Investments Inc now owns 444 shares of the financial services provider’s stock valued at $32,000 after buying an additional 198 shares in the last quarter. JPL Wealth Management LLC bought a new stake in shares of HSBC during the 3rd quarter worth $41,000. Finally, SHP Wealth Management purchased a new position in HSBC in the fourth quarter worth $42,000. Hedge funds and other institutional investors own 1.48% of the company’s stock.
HSBC Stock Up 1.5%
Shares of HSBC stock opened at $96.43 on Tuesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.92 and a current ratio of 0.92. HSBC Holdings plc has a 52-week low of $58.14 and a 52-week high of $96.90. The company’s 50 day moving average price is $91.50 and its 200-day moving average price is $85.83. The stock has a market capitalization of $331.40 billion, a price-to-earnings ratio of 15.81, a P/E/G ratio of 0.84 and a beta of 0.56.
HSBC Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, May 15th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $2.00 dividend on an annualized basis and a yield of 2.1%. HSBC’s dividend payout ratio is presently 32.46%.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on HSBC shares. Weiss Ratings lowered HSBC from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. The Goldman Sachs Group started coverage on HSBC in a research report on Thursday, March 26th. They issued a “buy” rating for the company. Zacks Research cut shares of HSBC from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. BNP Paribas Exane downgraded shares of HSBC from an “outperform” rating to a “neutral” rating in a research note on Tuesday, April 14th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of HSBC in a research note on Thursday, May 14th. Five research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, HSBC currently has a consensus rating of “Hold”.
Insiders Place Their Bets
In related news, insider Daniel Scott Palomaki sold 23,123 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $18.11, for a total transaction of $418,757.53. Following the completion of the transaction, the insider owned 4,973 shares in the company, valued at $90,061.03. This represents a 82.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.01% of the company’s stock.
HSBC Profile
HSBC Holdings plc (NYSE: HSBC) is a multinational banking and financial services organization headquartered in London. It traces its origins to the Hongkong and Shanghai Banking Corporation, founded in 1865 to facilitate trade between Europe and Asia, and has since grown into one of the world’s largest banking groups. The company is publicly listed in multiple markets, including the London Stock Exchange, the Hong Kong Stock Exchange and as an American depositary receipt on the New York Stock Exchange.
HSBC operates a universal banking model, serving retail, commercial, corporate and institutional clients.
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