Factory Mutual Insurance Co. Buys New Stake in HSBC Holdings plc $HSBC

Factory Mutual Insurance Co. purchased a new stake in shares of HSBC Holdings plc (NYSE:HSBC) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 77,552 shares of the financial services provider’s stock, valued at approximately $5,505,000.

A number of other large investors have also modified their holdings of HSBC. Mather Group LLC. purchased a new stake in shares of HSBC during the 3rd quarter worth about $25,000. NewSquare Capital LLC boosted its position in HSBC by 152.6% during the second quarter. NewSquare Capital LLC now owns 432 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 261 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new stake in HSBC in the third quarter valued at approximately $32,000. Root Financial Partners LLC acquired a new stake in HSBC in the third quarter valued at approximately $43,000. Finally, Private Trust Co. NA raised its stake in shares of HSBC by 346.2% during the 2nd quarter. Private Trust Co. NA now owns 763 shares of the financial services provider’s stock worth $46,000 after buying an additional 592 shares during the period. Institutional investors and hedge funds own 1.48% of the company’s stock.

HSBC Stock Performance

Shares of HSBC stock opened at $86.87 on Friday. The stock has a market capitalization of $298.40 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 0.94 and a beta of 0.52. HSBC Holdings plc has a 12 month low of $45.66 and a 12 month high of $90.81. The firm’s fifty day simple moving average is $82.97 and its 200-day simple moving average is $73.41. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.92.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Erste Group Bank raised shares of HSBC from a “hold” rating to a “buy” rating in a report on Thursday, November 20th. Bank of America upgraded shares of HSBC from a “neutral” rating to a “buy” rating in a research report on Wednesday, December 10th. Zacks Research upgraded shares of HSBC from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. Keefe, Bruyette & Woods upgraded shares of HSBC from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, December 17th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of HSBC in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $63.00.

About HSBC

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.