Acadian Asset Management LLC Buys 17,021 Shares of HSBC Holdings plc $HSBC

Acadian Asset Management LLC lifted its stake in shares of HSBC Holdings plc (NYSE:HSBC) by 254.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,718 shares of the financial services provider’s stock after purchasing an additional 17,021 shares during the quarter. Acadian Asset Management LLC’s holdings in HSBC were worth $1,362,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wayfinding Financial LLC bought a new position in HSBC in the first quarter worth approximately $30,000. Garde Capital Inc. bought a new position in shares of HSBC in the 1st quarter worth $43,000. Elequin Capital LP lifted its holdings in shares of HSBC by 282.2% in the 1st quarter. Elequin Capital LP now owns 772 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 570 shares in the last quarter. Bessemer Group Inc. lifted its stake in shares of HSBC by 51.0% in the first quarter. Bessemer Group Inc. now owns 864 shares of the financial services provider’s stock valued at $50,000 after buying an additional 292 shares in the last quarter. Finally, Larson Financial Group LLC lifted its stake in shares of HSBC by 32.1% in the first quarter. Larson Financial Group LLC now owns 1,024 shares of the financial services provider’s stock valued at $59,000 after buying an additional 249 shares in the last quarter. Institutional investors own 1.48% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on HSBC shares. BNP Paribas Exane raised shares of HSBC from an “underperform” rating to an “outperform” rating in a research note on Friday, September 5th. Bank of America restated a “neutral” rating and issued a $63.00 target price on shares of HSBC in a report on Tuesday, June 3rd. Finally, BNP Paribas upgraded HSBC from a “strong sell” rating to a “strong-buy” rating in a report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, HSBC currently has an average rating of “Moderate Buy” and an average target price of $63.00.

HSBC Price Performance

HSBC stock opened at $69.63 on Thursday. The company’s 50 day moving average price is $64.60 and its two-hundred day moving average price is $59.80. The stock has a market cap of $241.65 billion, a P/E ratio of 13.79, a P/E/G ratio of 1.54 and a beta of 0.65. HSBC Holdings plc has a 52 week low of $43.72 and a 52 week high of $69.94. 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) last issued its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.33. The business had revenue of $16.90 billion for the quarter, compared to analyst estimates of $16.64 billion. HSBC had a return on equity of 12.73% and a net margin of 13.48%. On average, equities analysts predict that HSBC Holdings plc will post 6.66 earnings per share for the current year.

HSBC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, August 15th will be given a $0.495 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.98 annualized dividend and a yield of 2.8%. HSBC’s payout ratio is currently 39.21%.

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.