Dorsey Wright & Associates lowered its position in shares of HSBC Holdings plc (NYSE:HSBC – Get Rating) by 11.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 109,317 shares of the financial services provider's stock after selling 14,778 shares during the period. Dorsey Wright & Associates' holdings in HSBC were worth $3,572,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in HSBC. Goldman Sachs Group Inc. increased its stake in shares of HSBC by 62.9% during the first quarter. Goldman Sachs Group Inc. now owns 3,738,851 shares of the financial services provider's stock valued at $127,944,000 after buying an additional 1,443,765 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of HSBC by 3.5% during the first quarter. Dimensional Fund Advisors LP now owns 9,833,179 shares of the financial services provider's stock valued at $336,492,000 after buying an additional 330,792 shares during the period. Castle Hook Partners LP purchased a new position in HSBC in the first quarter valued at about $10,465,000. Capricorn Fund Managers Ltd purchased a new position in HSBC in the first quarter valued at about $8,734,000. Finally, BlackRock Inc. grew its stake in HSBC by 14.2% in the first quarter. BlackRock Inc. now owns 1,676,933 shares of the financial services provider's stock valued at $57,385,000 after purchasing an additional 208,393 shares during the last quarter. Hedge funds and other institutional investors own 1.34% of the company's stock.
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Wall Street Analyst Weigh In
Several equities analysts have issued reports on the company. Morgan Stanley lifted their target price on HSBC from GBX 590 ($7.13) to GBX 624 ($7.54) in a research note on Wednesday, July 6th. The Goldman Sachs Group downgraded HSBC from a "buy" rating to a "neutral" rating in a report on Thursday, August 4th. BNP Paribas downgraded HSBC from a "neutral" rating to an "underperform" rating in a report on Friday, September 9th. Barclays lifted their target price on HSBC from GBX 720 ($8.70) to GBX 780 ($9.42) in a report on Tuesday, August 2nd. Finally, StockNews.com downgraded HSBC from a "buy" rating to a "hold" rating in a report on Thursday, August 11th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, HSBC currently has an average rating of "Hold" and a consensus price target of $615.57.
HSBC Trading Down 2.0 %
NYSE HSBC traded down $0.54 on Thursday, reaching $26.04. 268,246 shares of the company were exchanged, compared to its average volume of 2,957,750. The business's fifty day moving average price is $31.19 and its 200 day moving average price is $32.02. The stock has a market capitalization of $105.79 billion, a P/E ratio of 7.73, a price-to-earnings-growth ratio of 0.39 and a beta of 0.50. The company has a current ratio of 0.89, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. HSBC Holdings plc has a fifty-two week low of $25.77 and a fifty-two week high of $38.61.
HSBC (NYSE:HSBC – Get Rating) last announced its quarterly earnings results on Monday, August 1st. The financial services provider reported $1.35 EPS for the quarter, beating the consensus estimate of $0.97 by $0.38. HSBC had a return on equity of 6.69% and a net margin of 27.66%. The business had revenue of $13.14 billion for the quarter, compared to analyst estimates of $13.28 billion. Analysts forecast that HSBC Holdings plc will post 3.51 earnings per share for the current year.
HSBC Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Friday, August 19th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 6.91%. The ex-dividend date is Thursday, August 18th. HSBC's dividend payout ratio (DPR) is presently 40.00%.
About HSBC
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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.
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