Kovitz Investment Group Partners LLC Takes Position in HSBC Holdings plc $HSBC

Kovitz Investment Group Partners LLC purchased a new stake in shares of HSBC Holdings plc (NYSE:HSBC) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,738 shares of the financial services provider’s stock, valued at approximately $272,000.

Other large investors also recently modified their holdings of the company. Northern Trust Corp grew its holdings in HSBC by 52.0% during the fourth quarter. Northern Trust Corp now owns 2,781,307 shares of the financial services provider’s stock worth $137,563,000 after acquiring an additional 951,050 shares during the period. GAMMA Investing LLC grew its holdings in HSBC by 7,061.5% during the first quarter. GAMMA Investing LLC now owns 559,311 shares of the financial services provider’s stock worth $321,210,000 after acquiring an additional 551,501 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in HSBC by 729.6% during 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 acquiring an additional 341,187 shares during the period. Gunderson Capital Management Inc. acquired a new position in HSBC during the first quarter worth about $10,287,000. Finally, Aquatic Capital Management LLC acquired a new position in HSBC during the fourth quarter worth about $5,954,000. 1.48% of the stock is owned by institutional investors and hedge funds.

HSBC Trading Up 0.6%

NYSE:HSBC opened at $65.6410 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.93. HSBC Holdings plc has a fifty-two week low of $42.38 and a fifty-two week high of $66.05. The stock’s 50-day moving average is $62.38 and its two-hundred day moving average is $58.47. The stock has a market cap of $229.18 billion, a PE ratio of 13.00, a price-to-earnings-growth ratio of 1.46 and a beta of 0.60.

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

HSBC Dividend Announcement

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

Analyst Ratings Changes

Separately, Bank of America reaffirmed a “neutral” rating and set a $63.00 target price on shares of HSBC in a report on Tuesday, June 3rd. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock 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.