Private Advisor Group LLC Decreases Position in HSBC Holdings plc (NYSE:HSBC)

Key Points

• Private Advisor Group LLC has reduced its stake in HSBC Holdings plc by 43.8%, selling 12,227 shares and holding 15,693 shares valued at $901,000 at the end of the last quarter.
• HSBC reported earnings of $1.95 per share for the quarter, surpassing analyst expectations of $1.60, and generated revenue of $17.74 billion.
• The company recently announced a dividend of $0.495 per share, yielding 3.5%, with a dividend payout ratio of 36.33%.

Private Advisor Group LLC trimmed its position in HSBC Holdings plc (NYSE:HSBC - Free Report) by 43.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 15,693 shares of the financial services provider's stock after selling 12,227 shares during the period. Private Advisor Group LLC's holdings in HSBC were worth $901,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in HSBC. Thrivent Financial for Lutherans grew its position in HSBC by 5.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 7,618 shares of the financial services provider's stock worth $377,000 after purchasing an additional 417 shares in the last quarter. Sei Investments Co. grew its position in shares of HSBC by 4.6% during the 4th quarter. Sei Investments Co. now owns 106,538 shares of the financial services provider's stock valued at $5,270,000 after acquiring an additional 4,670 shares during the period. LPL Financial LLC grew its position in shares of HSBC by 23.2% during the 4th quarter. LPL Financial LLC now owns 153,518 shares of the financial services provider's stock valued at $7,593,000 after acquiring an additional 28,875 shares during the period. JPMorgan Chase & Co. grew its position in shares of HSBC by 79.8% during the 4th quarter. JPMorgan Chase & Co. now owns 102,207 shares of the financial services provider's stock valued at $5,055,000 after acquiring an additional 45,347 shares during the period. Finally, Orion Portfolio Solutions LLC grew its position in shares of HSBC by 23.2% during the 4th quarter. Orion Portfolio Solutions LLC now owns 41,933 shares of the financial services provider's stock valued at $2,074,000 after acquiring an additional 7,908 shares during the period. 1.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Bank of America reissued a "neutral" rating and set a $63.00 target price on shares of HSBC in a research report on Tuesday, June 3rd. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $63.00.

HSBC Price Performance

NYSE:HSBC traded up $0.14 during trading hours on Friday, hitting $61.44. The stock had a trading volume of 880,467 shares, compared to its average volume of 2,151,069. The company has a 50 day simple moving average of $60.98 and a two-hundred day simple moving average of $57.09. 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 Holdings plc has a one year low of $39.42 and a one year high of $65.75. The firm has a market capitalization of $214.52 billion, a price-to-earnings ratio of 12.16, a P/E/G ratio of 1.91 and a beta of 0.57.

HSBC (NYSE:HSBC - Get Free Report) last posted 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 for the quarter, compared to analysts' expectations of $16.64 billion. HSBC had a net margin of 13.48% and a return on equity of 12.78%. Research analysts forecast that HSBC Holdings plc will post 6.66 earnings per share for the current fiscal year.

HSBC Dividend Announcement

The firm also recently announced a dividend, which was paid on Friday, June 20th. Investors of record on Monday, May 12th were given a $0.495 dividend. This represents a yield of 350.0%. The ex-dividend date was Friday, May 9th. HSBC's dividend payout ratio (DPR) 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.