Northwestern Mutual Wealth Management Co. Purchases 12,731 Shares of HSBC Holdings plc $HSBC

Key Points

• Northwestern Mutual Wealth Management Co. increased its holdings in HSBC by 25.1% during the first quarter, owning 63,511 shares valued at $3,647,000 by the quarter's end.
• Several hedge funds have also modified their positions in HSBC, with notable increases from Atlas Capital Advisors and new positions taken by multiple firms totaling millions.
• HSBC's recent earnings report exceeded estimates, with an EPS of $1.95 compared to a consensus of $1.62, and the company announced a quarterly dividend of $0.495 per share.

Northwestern Mutual Wealth Management Co. grew its position in HSBC Holdings plc (NYSE:HSBC - Free Report) by 25.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 63,511 shares of the financial services provider's stock after purchasing an additional 12,731 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in HSBC were worth $3,647,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Wayfinding Financial LLC bought a new stake in shares of HSBC in the first quarter valued at about $30,000. CoreCap Advisors LLC lifted its holdings 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 valued at $29,000 after purchasing an additional 456 shares in the last quarter. Garde Capital Inc. bought a new stake in shares of HSBC in the first quarter valued at about $43,000. Elequin Capital LP raised its holdings in HSBC by 282.2% during the first quarter. Elequin Capital LP now owns 772 shares of the financial services provider's stock worth $44,000 after acquiring an additional 570 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in HSBC by 51.0% during the first 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. 1.48% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Bank of America reiterated 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 Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, HSBC currently has a consensus rating of "Hold" and an average target price of $63.00.

HSBC Stock Down 0.5%

HSBC traded down $0.32 on Friday, hitting $64.50. 991,866 shares of the company were exchanged, compared to its average volume of 1,178,524. HSBC Holdings plc has a 12 month low of $42.38 and a 12 month high of $66.05. The company has a market cap of $225.20 billion, a PE ratio of 12.77, a PEG ratio of 1.44 and a beta of 0.65. 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's fifty day moving average is $62.98 and its 200-day moving average is $58.90.

HSBC (NYSE:HSBC - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $1.95 earnings per share (EPS) 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 firm had revenue of $16.90 billion for the quarter, compared to analyst estimates of $16.64 billion. Equities research analysts predict that HSBC Holdings plc will post 6.66 EPS for the current fiscal year.

HSBC Dividend Announcement

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. The ex-dividend date is Friday, August 15th. This represents a $1.98 annualized dividend and a yield of 3.1%. HSBC's dividend payout ratio is presently 39.21%.

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.