HSBC Holdings plc $HSBC Shares Sold by Cooper Financial Group

Key Points

• Cooper Financial Group sold 37.7% of its holdings in HSBC Holdings plc, reducing its shares to 8,075, valued at approximately $491,000.
• Goldman Sachs Group Inc. and other institutional investors increased their stakes in HSBC, with Goldman Sachs boosting its holdings by 1.1% to over 4.7 million shares.
• HSBC recently reported better-than-expected earnings of $1.95 per share for the quarter, exceeding analysts' estimates, and declared a dividend of $0.495 per share with a yield of 2.8%.

Cooper Financial Group lessened its position in shares of HSBC Holdings plc (NYSE:HSBC - Free Report) by 37.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,075 shares of the financial services provider's stock after selling 4,878 shares during the period. Cooper Financial Group's holdings in HSBC were worth $491,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Goldman Sachs Group Inc. boosted its holdings in shares of HSBC by 1.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,726,420 shares of the financial services provider's stock valued at $271,438,000 after buying an additional 53,072 shares in the last quarter. Belpointe Asset Management LLC acquired a new position in shares of HSBC in the 1st quarter valued at $391,000. Acadian Asset Management LLC boosted its holdings in shares of HSBC by 254.2% in the 1st quarter. Acadian Asset Management LLC now owns 23,718 shares of the financial services provider's stock valued at $1,362,000 after buying an additional 17,021 shares in the last quarter. Bridgewater Advisors Inc. acquired a new position in shares of HSBC in the 1st quarter valued at $443,000. Finally, Atlas Capital Advisors Inc. boosted its holdings in shares of HSBC by 501.3% in the 1st quarter. Atlas Capital Advisors Inc. now owns 12,032 shares of the financial services provider's stock valued at $691,000 after buying an additional 10,031 shares in the last quarter. Institutional investors and hedge funds own 1.48% of the company's stock.

HSBC Stock Up 0.5%

Shares of HSBC stock opened at $71.36 on Thursday. The company has a market cap of $247.64 billion, a P/E ratio of 14.13, a PEG ratio of 1.58 and a beta of 0.62. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.86. HSBC Holdings plc has a one year low of $43.81 and a one year high of $71.58. The firm has a fifty day moving average of $66.01 and a two-hundred day moving average of $60.64.

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

HSBC Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, August 15th were issued a $0.495 dividend. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Friday, August 15th. HSBC's dividend payout ratio (DPR) is currently 39.21%.

Wall Street Analysts Forecast Growth

HSBC has been the subject of several research analyst reports. BNP Paribas upgraded shares of HSBC from a "strong sell" rating to a "strong-buy" rating in a report on Friday, September 5th. Citigroup reiterated a "buy" rating on shares of HSBC in a research note on Monday, September 22nd. Finally, BNP Paribas Exane upgraded shares of HSBC from an "underperform" rating to an "outperform" rating in a research note on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, HSBC currently has an average rating of "Moderate Buy" and an average target price of $63.00.

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.

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