Dimensional Fund Advisors LP Sells 244,267 Shares of HSBC Holdings plc (NYSE:HSBC)

Dimensional Fund Advisors LP reduced its stake in HSBC Holdings plc (NYSE:HSBC) by 2.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 11,159,796 shares of the financial services provider’s stock after selling 244,267 shares during the quarter. Dimensional Fund Advisors LP’s holdings in HSBC were worth $485,451,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Russell Investments Group Ltd. lifted its position in HSBC by 92.0% during the 4th quarter. Russell Investments Group Ltd. now owns 18,969 shares of the financial services provider’s stock worth $769,000 after buying an additional 9,087 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in HSBC by 8.5% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 18,261 shares of the financial services provider’s stock worth $740,000 after buying an additional 1,434 shares in the last quarter. Beacon Pointe Advisors LLC lifted its position in HSBC by 8.6% during the 4th quarter. Beacon Pointe Advisors LLC now owns 7,047 shares of the financial services provider’s stock worth $286,000 after buying an additional 558 shares in the last quarter. Coldstream Capital Management Inc. bought a new stake in HSBC during the 4th quarter worth about $295,000. Finally, Assetmark Inc. lifted its position in HSBC by 198.4% during the 4th quarter. Assetmark Inc. now owns 2,295 shares of the financial services provider’s stock worth $93,000 after buying an additional 1,526 shares in the last quarter. 1.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

HSBC Stock Up 0.1 %

HSBC stock opened at $43.70 on Tuesday. The firm has a market capitalization of $161.44 billion, a PE ratio of 7.53, a P/E/G ratio of 0.94 and a beta of 0.56. The company’s 50-day moving average is $43.04 and its 200-day moving average is $42.44. HSBC Holdings plc has a fifty-two week low of $35.30 and a fifty-two week high of $45.53. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.89 and a quick ratio of 0.96.

HSBC (NYSE:HSBC) last released its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.65 earnings per share 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. Sell-side analysts anticipate that HSBC Holdings plc will post 5.74 earnings per share for the current year.

HSBC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 16th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.00 dividend on an annualized basis and a yield of 4.58%. HSBC’s dividend payout ratio (DPR) is currently 34.14%.

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.