LGT Group Foundation Reduces Position in HSBC Holdings plc (NYSE:HSBC)

LGT Group Foundation cut its holdings in shares of HSBC Holdings plc (NYSE:HSBC) by 4.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,555 shares of the financial services provider’s stock after selling 1,250 shares during the quarter. LGT Group Foundation’s holdings in HSBC were worth $1,286,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of HSBC. Natixis Advisors LLC boosted its holdings in shares of HSBC by 22.1% during the 2nd quarter. Natixis Advisors LLC now owns 413,789 shares of the financial services provider’s stock worth $18,000,000 after purchasing an additional 74,980 shares during the last quarter. Raymond James & Associates grew its holdings in HSBC by 2.6% in the 2nd quarter. Raymond James & Associates now owns 361,416 shares of the financial services provider’s stock valued at $15,722,000 after buying an additional 9,323 shares in the last quarter. QRG Capital Management Inc. increased its stake in shares of HSBC by 19.0% in the 2nd quarter. QRG Capital Management Inc. now owns 302,994 shares of the financial services provider’s stock worth $13,180,000 after acquiring an additional 48,366 shares during the last quarter. O Shaughnessy Asset Management LLC raised its holdings in shares of HSBC by 28.7% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 176,352 shares of the financial services provider’s stock worth $6,941,000 after acquiring an additional 39,344 shares during the period. Finally, Promethos Capital LLC grew its holdings in shares of HSBC by 7.3% in the first quarter. Promethos Capital LLC now owns 163,232 shares of the financial services provider’s stock valued at $6,425,000 after purchasing an additional 11,172 shares during the period. Hedge funds and other institutional investors own 1.48% of the company’s stock.

HSBC Stock Performance

Shares of HSBC stock opened at $43.74 on Tuesday. The firm has a market cap of $161.59 billion, a PE ratio of 7.54, a price-to-earnings-growth ratio of 0.93 and a beta of 0.56. The company has a quick ratio of 0.96, a current ratio of 0.89 and a debt-to-equity ratio of 0.65. HSBC Holdings plc has a 52 week low of $35.30 and a 52 week high of $45.53. The business’s fifty day simple moving average is $43.08 and its 200-day simple moving average is $42.26.

HSBC (NYSE:HSBC) last posted its earnings results on Wednesday, July 31st. The financial services provider reported $1.65 EPS for the quarter. HSBC had a net margin of 15.61% and a return on equity of 10.60%. The company had revenue of $16.54 billion for the quarter. Equities analysts forecast that HSBC Holdings plc will post 5.74 earnings per share for the current year.

HSBC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 16th will be issued a $0.50 dividend. The ex-dividend date is Friday, August 16th. This represents a $2.00 annualized dividend and a yield of 4.57%. HSBC’s dividend payout ratio (DPR) is presently 34.14%.

Analysts Set New Price Targets

Separately, Dbs Bank raised shares of HSBC to a “strong-buy” rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold”.

About HSBC

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.