Envestnet Asset Management Inc. Sells 109,303 Shares of HSBC Holdings plc (NYSE:HSBC)

Envestnet Asset Management Inc. cut its position in HSBC Holdings plc (NYSE:HSBC - Free Report) by 56.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 83,815 shares of the financial services provider's stock after selling 109,303 shares during the quarter. Envestnet Asset Management Inc.'s holdings in HSBC were worth $4,813,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. CoreCap Advisors LLC lifted its stake in shares of HSBC by 342.9% in the fourth quarter. CoreCap Advisors LLC now owns 589 shares of the financial services provider's stock worth $29,000 after acquiring an additional 456 shares during the period. Wayfinding Financial LLC acquired a new position in shares of HSBC in the first quarter worth approximately $30,000. Garde Capital Inc. bought a new stake in HSBC in the first quarter worth approximately $43,000. Bessemer Group Inc. increased its holdings in HSBC by 51.0% in the first quarter. Bessemer Group Inc. now owns 864 shares of the financial services provider's stock worth $50,000 after purchasing an additional 292 shares in the last quarter. Finally, Spire Wealth Management increased its holdings in shares of HSBC by 59.4% during the first quarter. Spire Wealth Management now owns 1,320 shares of the financial services provider's stock valued at $76,000 after acquiring an additional 492 shares in the last quarter. 1.48% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Bank of America reaffirmed a "neutral" rating and set a $63.00 target price on shares of HSBC in a research report on Tuesday, June 3rd. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, HSBC has a consensus rating of "Hold" and a consensus price target of $63.00.

HSBC Stock Performance

HSBC stock traded down $0.06 during midday trading on Friday, hitting $64.92. The company's stock had a trading volume of 1,305,159 shares, compared to its average volume of 1,355,935. The stock's 50-day moving average price is $60.69 and its 200 day moving average price is $56.71. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.51. HSBC Holdings plc has a 1 year low of $39.42 and a 1 year high of $65.75. The stock has a market cap of $226.66 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 2.04 and a beta of 0.57.

HSBC (NYSE:HSBC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.35. HSBC had a return on equity of 12.55% and a net margin of 14.55%. The business had revenue of $17.74 billion for the quarter, compared to analysts' expectations of $16.60 billion. On average, equities analysts forecast that HSBC Holdings plc will post 6.66 EPS for the current year.

HSBC Dividend Announcement

The business also recently disclosed a dividend, which was paid on Friday, June 20th. Investors of record on Monday, May 12th were paid a dividend of $0.495 per share. The ex-dividend date was Friday, May 9th. This represents a dividend yield of 3.5%. HSBC's payout ratio is 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.