HSBC Holdings plc $HSBC Holdings Lifted by ABC Arbitrage SA

ABC Arbitrage SA lifted its holdings in HSBC Holdings plc (NYSE:HSBC) by 43.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 244,169 shares of the financial services provider’s stock after purchasing an additional 73,390 shares during the period. HSBC comprises 1.7% of ABC Arbitrage SA’s holdings, making the stock its 19th biggest holding. ABC Arbitrage SA’s holdings in HSBC were worth $17,331,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Mather Group LLC. acquired a new position in shares of HSBC in the 3rd quarter valued at $25,000. NewSquare Capital LLC boosted its holdings in shares of HSBC by 152.6% in the second quarter. NewSquare Capital LLC now owns 432 shares of the financial services provider’s stock worth $26,000 after buying an additional 261 shares during the period. Retirement Wealth Solutions LLC purchased a new position in shares of HSBC in the third quarter worth approximately $32,000. Ameritas Advisory Services LLC acquired a new stake in shares of HSBC during the second quarter valued at approximately $39,000. Finally, Root Financial Partners LLC acquired a new position in HSBC in the 3rd quarter worth approximately $43,000. 1.48% of the stock is currently owned by institutional investors.

HSBC Stock Down 1.3%

HSBC stock opened at $89.56 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. HSBC Holdings plc has a 1-year low of $45.66 and a 1-year high of $90.81. The firm’s fifty day simple moving average is $80.92 and its 200-day simple moving average is $72.37. The company has a market capitalization of $307.64 billion, a P/E ratio of 18.85, a P/E/G ratio of 0.97 and a beta of 0.52.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on HSBC shares. Erste Group Bank raised HSBC from a “hold” rating to a “buy” rating in a research report on Thursday, November 20th. Zacks Research upgraded HSBC from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of HSBC in a report on Monday, December 29th. Morgan Stanley began coverage on shares of HSBC in a report on Wednesday, January 14th. They set an “equal weight” rating for the company. Finally, Keefe, Bruyette & Woods raised shares of HSBC from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, HSBC has a consensus rating of “Moderate Buy” and a consensus target price of $63.00.

HSBC Company Profile

HSBC Holdings plc (NYSE: HSBC) is a multinational banking and financial services organization headquartered in London. It traces its origins to the Hongkong and Shanghai Banking Corporation, founded in 1865 to facilitate trade between Europe and Asia, and has since grown into one of the world’s largest banking groups. The company is publicly listed in multiple markets, including the London Stock Exchange, the Hong Kong Stock Exchange and as an American depositary receipt on the New York Stock Exchange.

HSBC operates a universal banking model, serving retail, commercial, corporate and institutional clients.