Cookson Peirce & Co. Inc. Sells 10,013 Shares of HSBC Holdings plc $HSBC

Cookson Peirce & Co. Inc. reduced its holdings in HSBC Holdings plc (NYSE:HSBC) by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 613,956 shares of the financial services provider’s stock after selling 10,013 shares during the period. HSBC accounts for about 2.0% of Cookson Peirce & Co. Inc.’s portfolio, making the stock its 9th largest holding. Cookson Peirce & Co. Inc.’s holdings in HSBC were worth $48,300,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HSBC. Cornerstone Planning Group LLC increased its stake in shares of HSBC by 30.7% during the 4th quarter. Cornerstone Planning Group LLC now owns 498 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 117 shares during the last quarter. Lester Murray Antman dba SimplyRich increased its stake in shares of HSBC by 1.0% during the 4th quarter. Lester Murray Antman dba SimplyRich now owns 12,445 shares of the financial services provider’s stock worth $979,000 after purchasing an additional 123 shares during the last quarter. Ellevest Inc. increased its stake in shares of HSBC by 0.7% during the 4th quarter. Ellevest Inc. now owns 18,219 shares of the financial services provider’s stock worth $1,433,000 after purchasing an additional 131 shares during the last quarter. Checchi Capital Advisers LLC increased its stake in shares of HSBC by 0.5% during the 4th quarter. Checchi Capital Advisers LLC now owns 26,554 shares of the financial services provider’s stock worth $2,089,000 after purchasing an additional 144 shares during the last quarter. Finally, Net Worth Advisory Group increased its stake in shares of HSBC by 2.3% during the 4th quarter. Net Worth Advisory Group now owns 6,466 shares of the financial services provider’s stock worth $509,000 after purchasing an additional 146 shares during the last quarter. 1.48% of the stock is currently owned by institutional investors and hedge funds.

HSBC News Summary

Here are the key news stories impacting HSBC this week:

• Negative Sentiment: Reports that Hong Kong banks may face stricter scrutiny on mainland Chinese clients sparked concern over reduced account growth, cross-border deposits, and fee revenue for HSBC. HSBC, AIA Slump After Report of Hong Kong Bank Account Curbs
• Negative Sentiment: HSBC was also mentioned in connection with a whistleblower allegation against HSBC Bank USA involving possible Sarbanes-Oxley violations, adding another legal and compliance overhang. Whistleblower Accuses HSBC Bank USA of Sarbanes-Oxley Violations
• Neutral Sentiment: Citi said the recent decline in HSBC and Standard Chartered may be excessive, suggesting the market reaction could be overdone if the account-opening concerns prove limited. HSBC and StanChart sell-off overdone, says Citi
• Neutral Sentiment: HSBC also appeared in routine capital-markets notices from its Continental Europe unit, which are not likely to materially affect the stock. HSBC Continental Europe: Post Stabilisation Notice
• Neutral Sentiment: HSBC Research also published a macro view on India’s potential need for dollar inflows to support the rupee, which is informative but not a direct earnings driver for the bank’s shares. India may need up to $70 bn in inflows as policymakers weigh rupee-support package: HSBC

Insider Transactions at HSBC

In other news, insider Daniel Scott Palomaki sold 23,123 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $18.11, for a total transaction of $418,757.53. Following the completion of the sale, the insider directly owned 4,973 shares in the company, valued at approximately $90,061.03. This represents a 82.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.01% of the stock is owned by corporate insiders.

HSBC Stock Down 1.9%

Shares of HSBC opened at $90.85 on Friday. HSBC Holdings plc has a 52 week low of $58.14 and a 52 week high of $95.61. The firm has a market cap of $312.22 billion, a P/E ratio of 14.89, a price-to-earnings-growth ratio of 0.81 and a beta of 0.56. The firm’s 50-day simple moving average is $89.60 and its 200 day simple moving average is $83.97. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.92 and a current ratio of 0.92.

HSBC (NYSE:HSBC) last posted its quarterly earnings data on Tuesday, March 31st. The financial services provider reported $0.44 earnings per share (EPS) for the quarter. The firm had revenue of $19.13 billion during the quarter. HSBC had a net margin of 16.06% and a return on equity of 13.35%. On average, analysts forecast that HSBC Holdings plc will post 8.55 earnings per share for the current year.

HSBC Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, May 15th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $2.00 dividend on an annualized basis and a yield of 2.2%. HSBC’s payout ratio is currently 32.46%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. BNP Paribas Exane lowered shares of HSBC from an “outperform” rating to a “neutral” rating in a research note on Tuesday, April 14th. Weiss Ratings lowered shares of HSBC from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. The Goldman Sachs Group assumed coverage on shares of HSBC in a research note on Thursday, March 26th. They set a “buy” rating on the stock. Zacks Research lowered shares of HSBC from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Finally, Royal Bank Of Canada restated a “sector perform” rating on shares of HSBC in a research note on Thursday, May 14th. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, HSBC currently has an average rating of “Hold”.

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.