Y Intercept Hong Kong Ltd Sells 19,226 Shares of HSBC Holdings plc (NYSE:HSBC)

Key Points

• Y Intercept Hong Kong Ltd has reduced its stock position in HSBC Holdings plc by 54.0%, now holding 16,364 shares valued at $940,000.
• In contrast, Northern Trust Corp and GAMMA Investing LLC significantly increased their stakes in HSBC, boosting their holdings by 52.0% and 7,061.5%, respectively.
• HSBC reported better-than-expected earnings of $1.95 per share for the quarter, exceeding analysts' forecasts and achieving a revenue of $17.74 billion.

Y Intercept Hong Kong Ltd decreased its position in shares of HSBC Holdings plc (NYSE:HSBC - Free Report) by 54.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,364 shares of the financial services provider's stock after selling 19,226 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in HSBC were worth $940,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in HSBC. CoreCap Advisors LLC grew its holdings in HSBC by 342.9% in the fourth quarter. CoreCap Advisors LLC now owns 589 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 456 shares during the period. Wayfinding Financial LLC purchased a new stake in shares of HSBC in the 1st quarter valued at $30,000. Garde Capital Inc. purchased a new stake in HSBC during the 1st quarter worth about $43,000. Bessemer Group Inc. boosted its position in shares of HSBC by 51.0% during the 1st quarter. Bessemer Group Inc. now owns 864 shares of the financial services provider's stock worth $50,000 after acquiring an additional 292 shares in the last quarter. Finally, Larson Financial Group LLC boosted its position in shares of HSBC by 32.1% during the 1st quarter. Larson Financial Group LLC now owns 1,024 shares of the financial services provider's stock worth $59,000 after acquiring an additional 249 shares in the last quarter. Institutional investors own 1.48% of the company's stock.

HSBC Trading Down 0.1%

HSBC traded down $0.06 during trading on Friday, reaching $64.92. 1,305,159 shares of the company's stock were exchanged, compared to its average volume of 1,355,935. The company's fifty day moving average price is $60.69 and its 200-day moving average price is $56.76. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 0.93. HSBC Holdings plc has a fifty-two week low of $39.42 and a fifty-two week high of $65.75. The firm has a market capitalization of $226.66 billion, a PE ratio of 11.91, a P/E/G ratio of 2.04 and a beta of 0.57.

HSBC (NYSE:HSBC - Get Free Report) last issued its 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. The company had revenue of $17.74 billion for the quarter, compared to analysts' expectations of $16.60 billion. HSBC had a net margin of 14.55% and a return on equity of 12.55%. As a group, equities analysts forecast that HSBC Holdings plc will post 6.66 EPS for the current year.

HSBC Announces Dividend

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

Analyst Ratings Changes

Separately, Bank of America restated a "neutral" rating and set a $63.00 price objective on shares of HSBC in a report on Tuesday, June 3rd. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, HSBC presently has an average rating of "Hold" and an average 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.