Envestnet Portfolio Solutions Inc. lowered its stake in HSBC Holdings plc (NYSE:HSBC - Free Report) by 35.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,155 shares of the financial services provider's stock after selling 5,086 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in HSBC were worth $526,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Janney Capital Management LLC grew its holdings in shares of HSBC by 23.6% during the 1st quarter. Janney Capital Management LLC now owns 232,499 shares of the financial services provider's stock valued at $13,352,000 after acquiring an additional 44,348 shares in the last quarter. Seed Wealth Management Inc. purchased a new position in shares of HSBC during the 1st quarter valued at $208,000. Wolf Group Capital Advisors purchased a new position in shares of HSBC during the 1st quarter valued at $219,000. Clarius Group LLC grew its holdings in shares of HSBC by 30.8% during the 1st quarter. Clarius Group LLC now owns 13,947 shares of the financial services provider's stock valued at $801,000 after acquiring an additional 3,286 shares in the last quarter. Finally, QRG Capital Management Inc. grew its holdings in shares of HSBC by 5.6% during the 1st quarter. QRG Capital Management Inc. now owns 366,245 shares of the financial services provider's stock valued at $21,033,000 after acquiring an additional 19,584 shares in the last quarter. 1.48% of the stock is currently owned by hedge funds and other institutional investors.
HSBC Trading Down 1.0%
Shares of NYSE HSBC opened at $60.50 on Friday. The company's 50 day simple moving average is $58.19 and its 200 day simple moving average is $54.75. HSBC Holdings plc has a fifty-two week low of $39.42 and a fifty-two week high of $61.88. The firm has a market capitalization of $212.70 billion, a P/E ratio of 11.10, a P/E/G ratio of 1.92 and a beta of 0.58. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.93 and a quick ratio of 0.93.
HSBC (NYSE:HSBC - Get Free Report) last posted its earnings results on Tuesday, April 29th. The financial services provider reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.35. HSBC had a net margin of 14.55% and a return on equity of 12.55%. The company had revenue of $17.74 billion for the quarter, compared to analyst estimates of $16.60 billion. On average, analysts predict that HSBC Holdings plc will post 6.66 EPS for the current year.
HSBC Announces Dividend
The company also recently disclosed a dividend, which was paid on Friday, June 20th. Stockholders of record on Monday, May 12th were given a $0.495 dividend. This represents a dividend yield of 3.5%. The ex-dividend date of this dividend was Friday, May 9th. HSBC's dividend payout ratio (DPR) is presently 36.33%.
Analyst Upgrades and Downgrades
HSBC has been the subject of several analyst reports. Bank of America reaffirmed a "neutral" rating and issued a $63.00 price objective on shares of HSBC in a research note on Tuesday, June 3rd. UBS Group reaffirmed a "neutral" rating on shares of HSBC in a research note on Thursday, March 6th. Wall Street Zen raised shares of HSBC from a "sell" rating to a "hold" rating in a research note on Tuesday, March 11th. Finally, Barclays raised shares of HSBC from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, March 4th. Five analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, HSBC has a consensus rating of "Hold" and a consensus target price of $63.00.
Check Out Our Latest Analysis on HSBC
About HSBC
(
Free Report)
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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