Assetmark Inc. Grows Stock Holdings in HSBC Holdings plc $HSBC

Assetmark Inc. grew its stake in shares of HSBC Holdings plc (NYSE:HSBC) by 12.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 53,273 shares of the financial services provider’s stock after acquiring an additional 5,817 shares during the period. Assetmark Inc.’s holdings in HSBC were worth $4,394,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Transamerica Financial Advisors LLC increased its stake in shares of HSBC by 287.1% during the fourth quarter. Transamerica Financial Advisors LLC now owns 329 shares of the financial services provider’s stock valued at $26,000 after buying an additional 244 shares during the period. Measured Wealth Private Client Group LLC bought a new stake in shares of HSBC in the 3rd quarter valued at about $26,000. Binnacle Investments Inc increased its holdings in HSBC by 80.5% during the third quarter. Binnacle Investments Inc now owns 444 shares of the financial services provider’s stock valued at $32,000 after buying an additional 198 shares during the period. Whipplewood Advisors LLC purchased a new stake in HSBC during the first quarter worth $41,000. Finally, JPL Wealth Management LLC purchased a new position in shares of HSBC in the 3rd quarter valued at $41,000. 1.48% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on HSBC. BNP Paribas Exane downgraded shares of HSBC from an “outperform” rating to a “neutral” rating in a report on Tuesday, April 14th. The Goldman Sachs Group began coverage on shares of HSBC in a research report on Thursday, March 26th. They set a “buy” rating for the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of HSBC in a report on Tuesday, June 23rd. Erste Group Bank cut HSBC from a “buy” rating to a “hold” rating in a research note on Wednesday, July 15th. Finally, Weiss Ratings downgraded shares of HSBC from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Four equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, HSBC has a consensus rating of “Hold”.

HSBC Stock Up 2.1%

HSBC stock opened at $103.23 on Thursday. HSBC Holdings plc has a 52 week low of $60.61 and a 52 week high of $103.50. The firm has a market cap of $354.78 billion, a price-to-earnings ratio of 16.92, a price-to-earnings-growth ratio of 0.90 and a beta of 0.57. The business’s 50-day moving average price is $94.72 and its 200 day moving average price is $89.17. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.52.

HSBC (NYSE:HSBC) last issued its quarterly earnings data on Tuesday, March 31st. The financial services provider reported $0.44 EPS for the quarter. HSBC had a net margin of 16.06% and a return on equity of 13.35%. The business had revenue of $19.12 billion for the quarter. As a group, sell-side analysts anticipate that HSBC Holdings plc will post 8.62 earnings per share for the current year.

HSBC Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, May 15th were given a dividend of $0.50 per share. The ex-dividend date was Friday, May 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.9%. HSBC’s dividend payout ratio (DPR) is 32.46%.

Insider Transactions at HSBC

In other HSBC news, insider Daniel Scott Palomaki sold 23,123 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $18.11, for a total value of $418,757.53. Following the sale, the insider directly owned 4,973 shares of the company’s stock, valued at approximately $90,061.03. This trade represents a 82.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.01% of the company’s stock.

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.