QRG Capital Management Inc. Acquires 19,584 Shares of HSBC Holdings plc (NYSE:HSBC)

QRG Capital Management Inc. boosted its holdings in shares of HSBC Holdings plc (NYSE:HSBC - Free Report) by 5.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 366,245 shares of the financial services provider's stock after buying an additional 19,584 shares during the period. QRG Capital Management Inc.'s holdings in HSBC were worth $21,033,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Savant Capital LLC raised its position in HSBC by 44.4% during the fourth quarter. Savant Capital LLC now owns 16,708 shares of the financial services provider's stock valued at $826,000 after purchasing an additional 5,137 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in HSBC by 14.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 21,055 shares of the financial services provider's stock valued at $1,034,000 after purchasing an additional 2,714 shares in the last quarter. ABC Arbitrage SA purchased a new stake in HSBC during the fourth quarter valued at about $203,000. Rhumbline Advisers raised its position in HSBC by 0.8% during the fourth quarter. Rhumbline Advisers now owns 35,689 shares of the financial services provider's stock valued at $1,765,000 after purchasing an additional 272 shares in the last quarter. Finally, Manchester Capital Management LLC raised its position in HSBC by 56.9% during the fourth quarter. Manchester Capital Management LLC now owns 1,817 shares of the financial services provider's stock valued at $90,000 after purchasing an additional 659 shares in the last quarter. Institutional investors own 1.48% of the company's stock.

HSBC Stock Down 1.7%

Shares of NYSE:HSBC opened at $59.15 on Monday. HSBC Holdings plc has a 1 year low of $39.42 and a 1 year high of $61.88. The company has a market cap of $207.98 billion, a PE ratio of 9.54, a P/E/G ratio of 1.05 and a beta of 0.58. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.88 and a quick ratio of 0.96. The stock's 50-day moving average is $56.49 and its 200 day moving average is $54.09.

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

HSBC Announces Dividend

The firm also recently declared a dividend, which will be paid on Friday, June 20th. Investors of record on Monday, May 12th will be issued a dividend of $0.495 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a yield of 3.5%. HSBC's dividend payout ratio is presently 36.33%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. UBS Group restated a "neutral" rating on shares of HSBC in a research report on Thursday, March 6th. Bank of America reiterated a "neutral" rating and issued a $63.00 price objective on shares of HSBC in a report on Tuesday, June 3rd. Wall Street Zen upgraded HSBC from a "sell" rating to a "hold" rating in a report on Tuesday, March 11th. Finally, Barclays upgraded HSBC from an "equal weight" rating to an "overweight" rating in a report on Tuesday, March 4th. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, HSBC presently has a consensus rating of "Hold" 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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