Lazard Asset Management LLC Cuts Stock Position in HSBC Holdings plc (NYSE:HSBC)

Lazard Asset Management LLC decreased its holdings in HSBC Holdings plc (NYSE:HSBC - Free Report) by 22.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,819 shares of the financial services provider's stock after selling 7,351 shares during the quarter. Lazard Asset Management LLC's holdings in HSBC were worth $1,276,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Berbice Capital Management LLC purchased a new position in shares of HSBC in the fourth quarter worth approximately $25,000. Venturi Wealth Management LLC boosted its holdings in shares of HSBC by 58.2% in the fourth quarter. Venturi Wealth Management LLC now owns 571 shares of the financial services provider's stock worth $28,000 after buying an additional 210 shares during the last quarter. CoreCap Advisors LLC boosted 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 worth $29,000 after buying an additional 456 shares during the last quarter. Whipplewood Advisors LLC bought a new stake in HSBC during the 4th quarter worth approximately $30,000. Finally, Brooklyn Investment Group bought a new stake in HSBC during the 4th quarter worth approximately $49,000. Hedge funds and other institutional investors own 1.48% of the company's stock.

HSBC Price Performance

Shares of HSBC stock traded down $0.17 on Friday, hitting $59.24. 1,527,276 shares of the company traded hands, compared to its average volume of 1,735,645. The stock has a market capitalization of $209.39 billion, a P/E ratio of 9.56, a price-to-earnings-growth ratio of 1.05 and a beta of 0.53. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.96 and a current ratio of 0.88. HSBC Holdings plc has a 52 week low of $39.42 and a 52 week high of $61.88. The business has a 50-day simple moving average of $55.37 and a 200 day simple moving average of $52.63.

HSBC (NYSE:HSBC - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.35. The firm had revenue of $17.74 billion for the quarter, compared to analysts' expectations of $16.60 billion. HSBC had a net margin of 16.17% and a return on equity of 12.20%. Research analysts expect that HSBC Holdings plc will post 6.66 earnings per share for the current fiscal year.

HSBC Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Friday, June 20th. Stockholders of record on Monday, May 12th will be given a dividend of $0.495 per share. This represents a dividend yield of 3.5%. The ex-dividend date is Friday, May 9th. HSBC's payout ratio is currently 36.33%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HSBC. UBS Group restated a "neutral" rating on shares of HSBC in a research note on Thursday, March 6th. Deutsche Bank Aktiengesellschaft cut shares of HSBC from a "buy" rating to a "hold" rating in a research note on Monday, February 3rd. Barclays upgraded shares of HSBC from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, March 4th. Royal Bank of Canada restated a "sector perform" rating on shares of HSBC in a research note on Monday, February 3rd. Finally, Wall Street Zen upgraded shares of HSBC from a "sell" rating to a "hold" rating in a research note on Tuesday, March 11th. Four analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy".

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.