AQR Capital Management LLC Boosts Stock Position in HSBC Holdings plc $HSBC

Key Points

• AQR Capital Management LLC increased its stake in HSBC Holdings plc by 43.7% in the 1st quarter, owning a total of 99,949 shares valued at $5.74 million.
• HSBC reported earnings of $1.95 per share, exceeding the consensus estimate, and plans to pay a quarterly dividend of $0.495 per share on September 26.
• Analysts have recently upgraded HSBC's stock ratings, with BNP Paribas moving it from a "strong sell" to a "strong buy", indicating positive investor sentiment.

AQR Capital Management LLC lifted its position in HSBC Holdings plc (NYSE:HSBC - Free Report) by 43.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 99,949 shares of the financial services provider's stock after buying an additional 30,377 shares during the quarter. AQR Capital Management LLC's holdings in HSBC were worth $5,740,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Westover Capital Advisors LLC grew its stake in HSBC by 2.5% during the 1st quarter. Westover Capital Advisors LLC now owns 8,150 shares of the financial services provider's stock worth $468,000 after purchasing an additional 200 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in HSBC by 1.3% during the 1st quarter. Smartleaf Asset Management LLC now owns 17,094 shares of the financial services provider's stock worth $988,000 after purchasing an additional 223 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of HSBC by 32.1% during the 1st quarter. Larson Financial Group LLC now owns 1,024 shares of the financial services provider's stock worth $59,000 after acquiring an additional 249 shares in the last quarter. Vise Technologies Inc. boosted its position in shares of HSBC by 1.4% during the 4th quarter. Vise Technologies Inc. now owns 20,203 shares of the financial services provider's stock worth $999,000 after acquiring an additional 270 shares in the last quarter. Finally, Bessemer Group Inc. boosted its position in shares of HSBC by 51.0% during the 1st quarter. Bessemer Group Inc. now owns 864 shares of the financial services provider's stock worth $50,000 after acquiring an additional 292 shares in the last quarter. Hedge funds and other institutional investors own 1.48% of the company's stock.

HSBC Stock Down 0.8%

HSBC stock opened at $68.64 on Friday. HSBC Holdings plc has a fifty-two week low of $43.38 and a fifty-two week high of $69.32. 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 company has a market capitalization of $238.21 billion, a P/E ratio of 13.59, a PEG ratio of 1.54 and a beta of 0.65. The stock has a 50-day simple moving average of $64.13 and a 200-day simple moving average of $59.58.

HSBC (NYSE:HSBC - Get Free Report) last posted its earnings results on Wednesday, July 30th. The financial services provider reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.33. HSBC had a return on equity of 12.73% and a net margin of 13.48%.The business had revenue of $16.90 billion during the quarter, compared to the consensus estimate of $16.64 billion. Equities research analysts expect that HSBC Holdings plc will post 6.66 earnings per share for the current year.

HSBC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.495 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.98 annualized dividend and a yield of 2.9%. HSBC's dividend payout ratio is currently 39.21%.

Wall Street Analysts Forecast Growth

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

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.