Kovitz Investment Group Partners LLC Invests $272,000 in HSBC Holdings plc $HSBC

Key Points

• Kovitz Investment Group Partners LLC acquired a new stake in HSBC Holdings plc, purchasing 4,738 shares valued at approximately $272,000, according to a recent SEC filing.
• HSBC reported an earnings per share of $1.95 for the last quarter, exceeding expectations of $1.62, and also announced a dividend of $0.495 per share to be paid on September 26th.
• The stock recently traded at approximately $65.64, with a fifty-two week high of $66.05 and a market cap of $229.18 billion.

Kovitz Investment Group Partners LLC bought a new position in shares of HSBC Holdings plc (NYSE:HSBC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,738 shares of the financial services provider's stock, valued at approximately $272,000.

Several other hedge funds and other institutional investors have also made changes to their positions in HSBC. Barclays PLC boosted its holdings in shares of HSBC by 5.7% during the 4th quarter. Barclays PLC now owns 43,210 shares of the financial services provider's stock valued at $2,137,000 after purchasing an additional 2,343 shares during the last quarter. Guggenheim Capital LLC boosted its stake in HSBC by 42.0% during the fourth quarter. Guggenheim Capital LLC now owns 7,951 shares of the financial services provider's stock valued at $393,000 after buying an additional 2,351 shares during the last quarter. NewEdge Advisors LLC boosted its position in shares of HSBC by 66.8% during the 4th quarter. NewEdge Advisors LLC now owns 20,601 shares of the financial services provider's stock valued at $1,019,000 after acquiring an additional 8,249 shares during the last quarter. First Trust Advisors LP bought a new position in shares of HSBC during the 4th quarter valued at approximately $2,586,000. Finally, MML Investors Services LLC boosted its position in shares of HSBC by 22.9% during the 4th quarter. MML Investors Services LLC now owns 58,586 shares of the financial services provider's stock valued at $2,898,000 after acquiring an additional 10,909 shares during the last quarter. Institutional investors own 1.48% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Bank of America reiterated a "neutral" rating and set a $63.00 price objective on shares of HSBC in a research report on Tuesday, June 3rd. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $63.00.

HSBC Stock Down 1.4%

NYSE HSBC traded down $0.89 on Wednesday, reaching $64.60. 709,178 shares of the stock traded hands, compared to its average volume of 2,050,558. 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 company has a fifty day moving average price of $62.63 and a 200-day moving average price of $58.69. The company has a market cap of $225.54 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 1.46 and a beta of 0.60. HSBC Holdings plc has a 12 month low of $42.38 and a 12 month high of $66.05.

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 for the quarter, beating the consensus estimate of $1.62 by $0.33. The firm had revenue of $16.90 billion during 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%. As a group, research analysts forecast that HSBC Holdings plc will post 6.66 EPS for the current fiscal year.

HSBC Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Friday, September 26th. Investors of record on Monday, August 18th will be paid a $0.495 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a yield of 308.0%. HSBC's payout ratio is 39.21%.

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.