Acadian Asset Management LLC Grows Stake in HSBC Holdings plc $HSBC

Key Points

• Acadian Asset Management LLC increased its stake in HSBC Holdings plc by 254.2% in the first quarter, now holding 23,718 shares valued at approximately $1.36 million.
• BNP Paribas recently upgraded HSBC's stock from "strong sell" to "strong buy," contributing to an overall consensus rating of "Moderate Buy" with a target price of $63.00.
• HSBC announced a quarterly dividend of $0.495 per share, yielding approximately 2.8%, with a payout ratio of 39.21%.

Acadian Asset Management LLC boosted its holdings in HSBC Holdings plc (NYSE:HSBC - Free Report) by 254.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,718 shares of the financial services provider's stock after acquiring an additional 17,021 shares during the quarter. Acadian Asset Management LLC's holdings in HSBC were worth $1,362,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its position in HSBC by 1.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,726,420 shares of the financial services provider's stock valued at $271,438,000 after acquiring an additional 53,072 shares in the last quarter. Belpointe Asset Management LLC bought a new position in HSBC in the 1st quarter valued at about $391,000. Bridgewater Advisors Inc. bought a new position in HSBC in the 1st quarter valued at about $443,000. Atlas Capital Advisors Inc. lifted its position in HSBC by 501.3% in the 1st quarter. Atlas Capital Advisors Inc. now owns 12,032 shares of the financial services provider's stock valued at $691,000 after acquiring an additional 10,031 shares in the last quarter. Finally, Arkadios Wealth Advisors bought a new position in shares of HSBC during the 1st quarter worth approximately $2,579,000. Institutional investors own 1.48% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Bank of America reissued a "neutral" rating and set a $63.00 target price on shares of HSBC in a research report on Tuesday, June 3rd. BNP Paribas Exane raised shares of HSBC from an "underperform" rating to an "outperform" rating in a research report on Friday, September 5th. Finally, BNP Paribas raised shares of HSBC from a "strong sell" rating to a "strong-buy" rating in a research report on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $63.00.

HSBC Stock Performance

HSBC stock traded up $0.24 during mid-day trading on Friday, reaching $69.74. The company's stock had a trading volume of 944,672 shares, compared to its average volume of 1,240,622. HSBC Holdings plc has a 12-month low of $43.81 and a 12-month high of $69.94. The company has a market capitalization of $242.03 billion, a P/E ratio of 13.81, a PEG ratio of 1.56 and a beta of 0.65. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.86. The firm's fifty day moving average price is $64.89 and its two-hundred day moving average price is $59.92.

HSBC (NYSE:HSBC - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $1.95 earnings per share for the quarter, beating analysts' consensus estimates of $1.62 by $0.33. HSBC had a net margin of 13.48% and a return on equity of 12.73%. The business had revenue of $16.90 billion during the quarter, compared to analyst estimates of $16.64 billion. Sell-side analysts predict that HSBC Holdings plc will post 6.66 EPS for the current fiscal year.

HSBC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, August 15th will be paid a $0.495 dividend. This represents a $1.98 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Friday, August 15th. HSBC's payout ratio is currently 39.21%.

HSBC Company 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.