HSBC Holdings plc $HSBC Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. lowered its stake in HSBC Holdings plc (NYSE:HSBC) by 5.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 34,000 shares of the financial services provider’s stock after selling 2,039 shares during the period. Advisors Asset Management Inc.’s holdings in HSBC were worth $2,067,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of HSBC. NewSquare Capital LLC increased its holdings in HSBC by 152.6% in the second quarter. NewSquare Capital LLC now owns 432 shares of the financial services provider’s stock valued at $26,000 after buying an additional 261 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings in HSBC by 101.7% during the 2nd quarter. TD Private Client Wealth LLC now owns 464 shares of the financial services provider’s stock worth $28,000 after buying an additional 234 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of HSBC in the 2nd quarter worth approximately $31,000. Raleigh Capital Management Inc. bought a new stake in shares of HSBC in the 2nd quarter valued at approximately $33,000. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of HSBC during the 2nd quarter valued at approximately $39,000. Institutional investors and hedge funds own 1.48% of the company’s stock.

HSBC Stock Performance

HSBC stock opened at $71.22 on Friday. HSBC Holdings plc has a fifty-two week low of $45.66 and a fifty-two week high of $74.17. The company has a market capitalization of $244.64 billion, a P/E ratio of 14.99, a PEG ratio of 1.30 and a beta of 0.64. The company has a 50-day simple moving average of $69.57 and a 200 day simple moving average of $65.02. The company has a quick ratio of 0.93, a current ratio of 0.92 and a debt-to-equity ratio of 0.49.

HSBC (NYSE:HSBC) last issued its quarterly earnings results on Tuesday, October 28th. The financial services provider reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.15. HSBC had a net margin of 12.85% and a return on equity of 12.78%. The company had revenue of $17.90 billion during the quarter, compared to analyst estimates of $16.78 billion. Sell-side analysts predict that HSBC Holdings plc will post 6.66 earnings per share for the current fiscal year.

HSBC Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Friday, November 7th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, November 7th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.8%. This is a boost from HSBC’s previous quarterly dividend of $0.50. HSBC’s dividend payout ratio (DPR) is presently 41.68%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on HSBC shares. Erste Group Bank upgraded shares of HSBC from a “hold” rating to a “buy” rating in a research note on Thursday, November 20th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of HSBC in a report on Tuesday. Citigroup reiterated a “buy” rating on shares of HSBC in a research note on Tuesday, October 21st. BNP Paribas raised HSBC from a “strong sell” rating to a “strong-buy” rating in a report on Friday, September 5th. Finally, Zacks Research upgraded HSBC from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” 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.