Russell Investments Group Ltd. Raises Position in HSBC Holdings plc $HSBC

Key Points

• Russell Investments Group Ltd. increased its position in HSBC Holdings plc by 40.3% during the first quarter, owning a total of 35,425 shares valued at approximately $2,034,000.
• HSBC reported earnings of $1.95 EPS for the last quarter, surpassing analyst estimates and achieving a net margin of 13.48%.
• The company announced a dividend of $0.495 per share, with a payout on September 26th, resulting in a yield of 308.0%.

Russell Investments Group Ltd. grew its position in HSBC Holdings plc (NYSE:HSBC - Free Report) by 40.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 35,425 shares of the financial services provider's stock after buying an additional 10,175 shares during the period. Russell Investments Group Ltd.'s holdings in HSBC were worth $2,034,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of HSBC. Northern Trust Corp raised its holdings 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 worth $137,563,000 after buying an additional 951,050 shares during the last quarter. GAMMA Investing LLC raised its holdings 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 worth $321,210,000 after buying an additional 551,501 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in HSBC by 729.6% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 387,953 shares of the financial services provider's stock worth $22,280,000 after buying an additional 341,187 shares during the last quarter. Gunderson Capital Management Inc. purchased a new position in HSBC in the first quarter worth about $10,287,000. Finally, LPL Financial LLC raised its holdings in HSBC by 52.2% in the first quarter. LPL Financial LLC now owns 233,650 shares of the financial services provider's stock worth $13,419,000 after buying an additional 80,132 shares during the last quarter. 1.48% of the stock is owned by hedge funds and other institutional investors.

HSBC Stock Performance

Shares of HSBC stock opened at $65.20 on Tuesday. The company has a 50 day moving average price of $62.50 and a 200-day moving average price of $58.64. HSBC Holdings plc has a 52 week low of $42.38 and a 52 week high of $66.05. The firm has a market capitalization of $227.64 billion, a PE ratio of 12.91, a P/E/G ratio of 1.47 and a beta of 0.60. The company has a quick ratio of 0.93, a current ratio of 0.86 and a debt-to-equity ratio of 0.65.

HSBC (NYSE:HSBC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.33. The company had revenue of $16.90 billion during the quarter, compared to analyst estimates of $16.64 billion. HSBC had a net margin of 13.48% and a return on equity of 12.73%. As a group, equities research analysts expect that HSBC Holdings plc will post 6.66 earnings per share for the current year.

HSBC Announces Dividend

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

Wall Street Analyst Weigh In

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