American Century Companies Inc. Raises Stake in HSBC Holdings plc $HSBC

Key Points

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American Century Companies Inc. increased its stake in HSBC Holdings plc (NYSE:HSBC - Free Report) by 9.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,022,231 shares of the financial services provider's stock after purchasing an additional 85,166 shares during the period. American Century Companies Inc.'s holdings in HSBC were worth $58,707,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of HSBC. CoreCap Advisors LLC increased its stake in HSBC by 342.9% in the 4th quarter. CoreCap Advisors LLC now owns 589 shares of the financial services provider's stock valued at $29,000 after buying an additional 456 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in shares of HSBC in the first quarter valued at about $30,000. Garde Capital Inc. bought a new stake in HSBC during the first quarter worth about $43,000. Bessemer Group Inc. boosted its position in HSBC by 51.0% during the first quarter. Bessemer Group Inc. now owns 864 shares of the financial services provider's stock valued at $50,000 after purchasing an additional 292 shares during the last quarter. Finally, Larson Financial Group LLC grew its stake in HSBC by 32.1% in the first quarter. Larson Financial Group LLC now owns 1,024 shares of the financial services provider's stock valued at $59,000 after purchasing an additional 249 shares in the last quarter. 1.48% of the stock is currently owned by institutional investors.

HSBC Price Performance

Shares of NYSE:HSBC traded up $0.3810 during midday trading on Friday, hitting $65.6410. The stock had a trading volume of 1,225,278 shares, compared to its average volume of 2,073,839. The company's 50-day moving average price is $62.25 and its 200-day moving average price is $58.38. The company has a quick ratio of 0.93, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. HSBC Holdings plc has a fifty-two week low of $42.38 and a fifty-two week high of $66.05. The company has a market capitalization of $229.18 billion, a P/E ratio of 13.00, a price-to-earnings-growth ratio of 1.46 and a beta of 0.60.

HSBC (NYSE:HSBC - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $16.90 billion for the quarter, compared to the consensus estimate of $16.64 billion. As a group, equities research analysts predict that HSBC Holdings plc will post 6.66 EPS for the current fiscal year.

HSBC Dividend Announcement

The company also recently announced a dividend, which will be paid on Friday, September 26th. Stockholders of record on Monday, August 18th will be paid a $0.495 dividend. The ex-dividend date is Friday, August 15th. This represents a dividend yield of 308.0%. HSBC's dividend payout ratio (DPR) is currently 39.21%.

Wall Street Analysts Forecast Growth

Separately, Bank of America reiterated a "neutral" rating and set a $63.00 price objective on shares of HSBC in a research note on Tuesday, June 3rd. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $63.00.

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.