Allspring Global Investments Holdings LLC Has $100,000 Position in HSBC Holdings plc (NYSE:HSBC)

Allspring Global Investments Holdings LLC boosted its position in HSBC Holdings plc (NYSE:HSBC) by 49.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,477 shares of the financial services provider’s stock after buying an additional 824 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in HSBC were worth $100,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Morgan Stanley grew its holdings in shares of HSBC by 0.9% during the 3rd quarter. Morgan Stanley now owns 8,374,688 shares of the financial services provider’s stock valued at $330,465,000 after purchasing an additional 73,129 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its stake in shares of HSBC by 167.4% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 842,864 shares of the financial services provider’s stock worth $33,259,000 after buying an additional 527,677 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of HSBC by 39.4% in the 3rd quarter. American Century Companies Inc. now owns 698,250 shares of the financial services provider’s stock valued at $27,553,000 after acquiring an additional 197,283 shares during the last quarter. Natixis Advisors L.P. boosted its holdings in shares of HSBC by 3.0% during the 3rd quarter. Natixis Advisors L.P. now owns 622,654 shares of the financial services provider’s stock valued at $24,570,000 after acquiring an additional 18,167 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. grew its position in HSBC by 0.5% during the 3rd quarter. Cookson Peirce & Co. Inc. now owns 618,851 shares of the financial services provider’s stock worth $24,420,000 after acquiring an additional 3,238 shares during the last quarter. 1.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on HSBC. BNP Paribas lowered HSBC from a “neutral” rating to an “underperform” rating in a research note on Tuesday, January 16th. Barclays reiterated an “equal weight” rating on shares of HSBC in a research report on Wednesday, March 27th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, HSBC presently has an average rating of “Hold” and an average price target of $811.00.

HSBC Stock Performance

Shares of HSBC opened at $42.19 on Tuesday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.62. The firm’s fifty day simple moving average is $39.55 and its two-hundred day simple moving average is $39.13. HSBC Holdings plc has a 12 month low of $35.30 and a 12 month high of $42.47. The stock has a market capitalization of $159.53 billion, a P/E ratio of 7.40, a price-to-earnings-growth ratio of 0.99 and a beta of 0.63.

HSBC (NYSE:HSBC) last released its earnings results on Wednesday, February 21st. The financial services provider reported $0.57 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.33). HSBC had a return on equity of 12.89% and a net margin of 19.02%. The business had revenue of $13.02 billion for the quarter. As a group, analysts predict that HSBC Holdings plc will post 7.24 EPS for the current year.

HSBC Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Friday, March 8th were given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 14.70%. The ex-dividend date of this dividend was Thursday, March 7th. This is an increase from HSBC’s previous quarterly dividend of $0.50. HSBC’s payout ratio is presently 108.42%.

About HSBC

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.