Cresset Asset Management LLC Reduces Stake in HSBC Holdings plc (NYSE:HSBC)

Cresset Asset Management LLC lessened its stake in shares of HSBC Holdings plc (NYSE:HSBC - Free Report) by 79.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,596 shares of the financial services provider's stock after selling 71,457 shares during the period. Cresset Asset Management LLC's holdings in HSBC were worth $920,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Cetera Investment Advisers lifted its stake in shares of HSBC by 13.2% in the 4th quarter. Cetera Investment Advisers now owns 38,950 shares of the financial services provider's stock valued at $1,926,000 after purchasing an additional 4,552 shares during the last quarter. Bridgefront Capital LLC acquired a new position in HSBC during the fourth quarter worth $283,000. Balyasny Asset Management L.P. purchased a new stake in shares of HSBC in the 4th quarter valued at $1,093,000. Benjamin Edwards Inc. purchased a new position in HSBC during the 4th quarter valued at about $293,000. Finally, BNP Paribas Financial Markets increased its stake in HSBC by 0.3% during the fourth quarter. BNP Paribas Financial Markets now owns 93,929 shares of the financial services provider's stock worth $4,646,000 after purchasing an additional 254 shares during the period. Institutional investors and hedge funds own 1.48% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on HSBC shares. Barclays raised shares of HSBC from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, March 4th. Royal Bank of Canada reissued a "sector perform" rating on shares of HSBC in a research note on Monday, February 3rd. UBS Group reaffirmed a "neutral" rating on shares of HSBC in a research report on Thursday, March 6th. StockNews.com raised shares of HSBC from a "sell" rating to a "hold" rating in a report on Tuesday, March 11th. Finally, Deutsche Bank Aktiengesellschaft cut HSBC from a "buy" rating to a "hold" rating in a research note on Monday, February 3rd. Four analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, HSBC presently has a consensus rating of "Moderate Buy".

HSBC Stock Performance

NYSE HSBC opened at $58.22 on Tuesday. The company has a fifty day moving average of $55.01 and a two-hundred day moving average of $51.87. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.88 and a quick ratio of 0.96. HSBC Holdings plc has a 1 year low of $39.42 and a 1 year high of $61.88. The company has a market capitalization of $205.80 billion, a PE ratio of 9.39, a P/E/G ratio of 1.05 and a beta of 0.53.

HSBC (NYSE:HSBC - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $1.95 EPS for the quarter, topping the consensus estimate of $1.60 by $0.35. The company had revenue of $17.74 billion for the quarter, compared to analyst estimates of $16.60 billion. HSBC had a return on equity of 12.20% and a net margin of 16.17%. As a group, analysts expect that HSBC Holdings plc will post 6.66 earnings per share for the current year.

HSBC Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, June 20th. Shareholders of record on Monday, May 12th will be given a dividend of $0.495 per share. This represents a yield of 3.5%. The ex-dividend date of this dividend is Friday, May 9th. HSBC's payout ratio is currently 36.33%.

About HSBC

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.

Want to see what other hedge funds are holding HSBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for HSBC Holdings plc (NYSE:HSBC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.