UBS Group AG Boosts Stake in HSBC Holdings plc (NYSE:HSBC)

UBS Group AG grew its stake in HSBC Holdings plc (NYSE:HSBC – Get Rating) by 162.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 175,434 shares of the financial services provider’s stock after buying an additional 108,528 shares during the period. UBS Group AG’s holdings in HSBC were worth $4,573,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Goldman Sachs Group Inc. raised its holdings in shares of HSBC by 62.9% during the first quarter. Goldman Sachs Group Inc. now owns 3,738,851 shares of the financial services provider’s stock worth $127,944,000 after purchasing an additional 1,443,765 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of HSBC by 589.5% during the second quarter. Bank of Montreal Can now owns 1,545,642 shares of the financial services provider’s stock worth $51,346,000 after purchasing an additional 1,321,468 shares during the last quarter. Castle Hook Partners LP purchased a new position in shares of HSBC during the first quarter worth $10,465,000. Meritage Portfolio Management purchased a new position in shares of HSBC during the third quarter worth $6,797,000. Finally, BlackRock Inc. raised its holdings in shares of HSBC by 14.2% during the first quarter. BlackRock Inc. now owns 1,676,933 shares of the financial services provider’s stock worth $57,385,000 after purchasing an additional 208,393 shares during the last quarter. Hedge funds and other institutional investors own 1.26% of the company’s stock.

HSBC Stock Up 0.1 %

Shares of NYSE HSBC opened at $38.35 on Thursday. The firm has a market cap of $151.40 billion, a price-to-earnings ratio of 10.42, a price-to-earnings-growth ratio of 0.38 and a beta of 0.62. HSBC Holdings plc has a 52-week low of $24.77 and a 52-week high of $39.63. The company’s 50-day simple moving average is $35.60 and its 200-day simple moving average is $31.27. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.51.

HSBC Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 27th. Shareholders of record on Friday, March 3rd will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Thursday, March 2nd. This is an increase from HSBC’s previous quarterly dividend of $0.45. This represents a $4.60 dividend on an annualized basis and a yield of 11.99%. HSBC’s payout ratio is 36.41%.

Analysts Set New Price Targets

Several research analysts recently issued reports on HSBC shares. Berenberg Bank raised their target price on shares of HSBC from GBX 625 ($7.54) to GBX 780 ($9.41) in a report on Thursday, February 23rd. Jefferies Financial Group upgraded shares of HSBC from a “hold” rating to a “buy” rating in a research report on Thursday, January 5th. UBS Group raised their price target on shares of HSBC from GBX 680 ($8.21) to GBX 700 ($8.45) in a research report on Thursday, November 3rd. JPMorgan Chase & Co. raised their price target on shares of HSBC from GBX 570 ($6.88) to GBX 650 ($7.84) in a research report on Tuesday. Finally, Royal Bank of Canada raised their price target on shares of HSBC from GBX 750 ($9.05) to GBX 775 ($9.35) in a research report on Friday, February 24th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, HSBC presently has an average rating of “Hold” and a consensus target price of $678.22.

HSBC Company Profile

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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.