HSBC Holdings plc (NYSE:HSBC) Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. raised its stake in HSBC Holdings plc (NYSE:HSBC - Free Report) by 5.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 366,245 shares of the financial services provider's stock after acquiring an additional 19,584 shares during the quarter. QRG Capital Management Inc.'s holdings in HSBC were worth $21,033,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. FMR LLC grew its position in shares of HSBC by 18.1% in the fourth quarter. FMR LLC now owns 2,883,238 shares of the financial services provider's stock valued at $142,605,000 after purchasing an additional 441,033 shares during the period. Northern Trust Corp increased its stake in HSBC by 52.0% in the fourth quarter. Northern Trust Corp now owns 2,781,307 shares of the financial services provider's stock valued at $137,563,000 after purchasing an additional 951,050 shares during the last quarter. American Century Companies Inc. increased its stake in HSBC by 4.5% in the fourth quarter. American Century Companies Inc. now owns 937,065 shares of the financial services provider's stock valued at $46,347,000 after purchasing an additional 40,388 shares during the last quarter. GAMMA Investing LLC increased its stake in HSBC by 7,061.5% in the first quarter. GAMMA Investing LLC now owns 559,311 shares of the financial services provider's stock valued at $321,210,000 after purchasing an additional 551,501 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its stake in HSBC by 26.9% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 401,960 shares of the financial services provider's stock valued at $19,881,000 after purchasing an additional 85,104 shares during the last quarter. 1.48% of the stock is owned by institutional investors and hedge funds.

HSBC Trading Up 1.1%

HSBC stock traded up $0.66 during trading on Thursday, reaching $59.18. 1,433,545 shares of the stock traded hands, compared to its average volume of 1,738,127. The business's 50 day moving average price is $57.13 and its 200-day moving average price is $54.25. HSBC Holdings plc has a 52-week low of $39.42 and a 52-week high of $61.88. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market capitalization of $208.08 billion, a PE ratio of 10.86, a P/E/G ratio of 1.84 and a beta of 0.58.

HSBC (NYSE:HSBC - Get Free Report) last posted 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 12.55% and a net margin of 14.55%. The firm had revenue of $17.74 billion during the quarter, compared to the consensus estimate of $16.60 billion. As a group, sell-side analysts forecast that HSBC Holdings plc will post 6.66 earnings per share for the current year.

HSBC Announces Dividend

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

Wall Street Analysts Forecast Growth

HSBC has been the subject of several analyst reports. UBS Group reiterated a "neutral" rating on shares of HSBC in a research note on Thursday, March 6th. Bank of America reiterated a "neutral" rating and issued a $63.00 target price on shares of HSBC in a research note on Tuesday, June 3rd. Barclays upgraded HSBC from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, March 4th. Finally, Wall Street Zen raised HSBC from a "sell" rating to a "hold" rating in a research report on Tuesday, March 11th. 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 MarketBeat, HSBC presently has an average rating of "Hold" and an average target price of $63.00.

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.