Goldman Sachs Group Inc. Has $271.44 Million Stock Position in HSBC Holdings plc $HSBC

Key Points

• Goldman Sachs increased its stake in HSBC Holdings plc by 1.1%, acquiring an additional 53,072 shares during the first quarter, bringing its total to approximately 4.7 million shares valued at $271.4 million.
• HSBC recently reported earnings of $1.95 per share for the quarter, surpassing analysts' expectations, and had a revenue of $16.9 billion, ahead of estimates of $16.64 billion.
• The company announced a quarterly dividend of $0.495 per share, with an annual yield of 3.0%, set to be paid on September 26th to shareholders of record.

Goldman Sachs Group Inc. increased its holdings in HSBC Holdings plc (NYSE:HSBC - Free Report) by 1.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,726,420 shares of the financial services provider's stock after buying an additional 53,072 shares during the period. Goldman Sachs Group Inc. owned 0.13% of HSBC worth $271,438,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Contrarian Capital Management L.L.C. lifted its holdings in shares of HSBC by 425.4% during the 1st quarter. Contrarian Capital Management L.L.C. now owns 1,265,656 shares of the financial services provider's stock worth $72,687,000 after acquiring an additional 1,024,780 shares during the last quarter. GAMMA Investing LLC increased its position in shares of HSBC by 7,061.5% in the first quarter. GAMMA Investing LLC now owns 559,311 shares of the financial services provider's stock valued at $321,210,000 after acquiring an additional 551,501 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of HSBC by 729.6% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 387,953 shares of the financial services provider's stock valued at $22,280,000 after acquiring an additional 341,187 shares during the period. 1832 Asset Management L.P. purchased a new position in shares of HSBC during the first quarter valued at about $17,430,000. Finally, Gunderson Capital Management Inc. purchased a new position in shares of HSBC during the first quarter valued at about $10,287,000. 1.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

HSBC Stock Down 0.8%

Shares of NYSE:HSBC traded down $0.52 during trading on Friday, hitting $68.64. 1,135,040 shares of the company were exchanged, compared to its average volume of 1,245,749. The firm's 50 day moving average price is $64.13 and its 200-day moving average price is $59.58. The stock has a market capitalization of $238.22 billion, a P/E ratio of 13.59, a PEG ratio of 1.54 and a beta of 0.65. HSBC Holdings plc has a 12-month low of $43.38 and a 12-month high of $69.32. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.93.

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

HSBC Announces Dividend

The company 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 dividend on an annualized basis and a yield of 2.9%. HSBC's dividend 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.