Goldman Sachs Group Inc. Raises Holdings 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 stake in HSBC Holdings plc (NYSE:HSBC - Free Report) by 1.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,726,420 shares of the financial services provider's stock after acquiring an additional 53,072 shares during the period. Goldman Sachs Group Inc. owned about 0.13% of HSBC worth $271,438,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Northern Trust Corp lifted its stake in shares of HSBC by 3.3% in the 1st quarter. Northern Trust Corp now owns 2,873,096 shares of the financial services provider's stock valued at $165,002,000 after acquiring an additional 91,789 shares during the last quarter. Contrarian Capital Management L.L.C. lifted its stake in shares of HSBC by 425.4% in the 1st quarter. Contrarian Capital Management L.L.C. now owns 1,265,656 shares of the financial services provider's stock valued at $72,687,000 after acquiring an additional 1,024,780 shares during the last quarter. Royal Bank of Canada increased its holdings in HSBC by 18.7% during the 1st quarter. Royal Bank of Canada now owns 1,047,447 shares of the financial services provider's stock valued at $60,155,000 after purchasing an additional 164,915 shares during the period. American Century Companies Inc. increased its holdings in HSBC by 9.1% during the 1st quarter. American Century Companies Inc. now owns 1,022,231 shares of the financial services provider's stock valued at $58,707,000 after purchasing an additional 85,166 shares during the period. Finally, GAMMA Investing LLC increased its holdings in HSBC by 7,061.5% during the 1st quarter. GAMMA Investing LLC now owns 559,311 shares of the financial services provider's stock valued at $321,210,000 after purchasing an additional 551,501 shares during the period. Institutional investors own 1.48% of the company's stock.

HSBC Stock Up 1.0%

Shares of HSBC stock traded up $0.66 during midday trading on Monday, hitting $69.31. The company had a trading volume of 348,447 shares, compared to its average volume of 2,003,122. 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 stock has a market capitalization of $240.52 billion, a P/E ratio of 13.72, a P/E/G ratio of 1.53 and a beta of 0.65. The company has a 50 day moving average of $64.13 and a 200 day moving average of $59.60. HSBC Holdings plc has a 52-week low of $43.38 and a 52-week high of $69.41.

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, topping the consensus estimate of $1.62 by $0.33. The company had revenue of $16.90 billion for the quarter, compared to the consensus estimate of $16.64 billion. HSBC had a return on equity of 12.73% and a net margin of 13.48%. On average, equities analysts predict that HSBC Holdings plc will post 6.66 earnings per share for the current fiscal year.

HSBC Announces Dividend

The firm also recently announced 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. This represents a $1.98 annualized dividend and a yield of 2.9%. The ex-dividend date is Friday, August 15th. HSBC's dividend payout ratio (DPR) is currently 39.21%.

Analysts Set New Price Targets

HSBC has been the topic of a number of research analyst reports. Bank of America restated a "neutral" rating and set a $63.00 price target on shares of HSBC in a report on Tuesday, June 3rd. BNP Paribas Exane upgraded HSBC from an "underperform" rating to an "outperform" rating in a report on Friday, September 5th. Finally, BNP Paribas upgraded HSBC from a "strong sell" rating to a "strong-buy" rating in a 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 issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $63.00.

HSBC 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.