Bessemer Group Inc. Grows Stake in HSBC Holdings plc $HSBC

Bessemer Group Inc. lifted its stake in HSBC Holdings plc (NYSE:HSBC) by 1,921.0% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 38,056 shares of the financial services provider’s stock after acquiring an additional 36,173 shares during the quarter. Bessemer Group Inc.’s holdings in HSBC were worth $3,139,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of HSBC. Allspring Global Investments Holdings LLC lifted its position in HSBC by 27.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 37,589 shares of the financial services provider’s stock worth $3,170,000 after acquiring an additional 8,064 shares in the last quarter. Prosperity Consulting Group LLC purchased a new stake in shares of HSBC during the first quarter valued at approximately $253,000. Westover Capital Advisors LLC lifted its position in shares of HSBC by 1.3% during the first quarter. Westover Capital Advisors LLC now owns 9,313 shares of the financial services provider’s stock worth $768,000 after purchasing an additional 120 shares in the last quarter. Marks Group Wealth Management Inc boosted its stake in shares of HSBC by 1.1% in the first quarter. Marks Group Wealth Management Inc now owns 18,951 shares of the financial services provider’s stock valued at $1,563,000 after purchasing an additional 212 shares during the period. Finally, Sanctuary Advisors LLC grew its holdings in HSBC by 8.0% during the 1st quarter. Sanctuary Advisors LLC now owns 25,105 shares of the financial services provider’s stock valued at $2,071,000 after purchasing an additional 1,854 shares in the last quarter. 1.48% of the stock is currently owned by hedge funds and other institutional investors.

HSBC Trading Up 2.1%

HSBC opened at $101.08 on Wednesday. HSBC Holdings plc has a 12-month low of $60.61 and a 12-month high of $101.65. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market capitalization of $347.40 billion, a PE ratio of 16.57, a P/E/G ratio of 0.88 and a beta of 0.57. The firm’s fifty day moving average price is $94.46 and its 200 day moving average price is $89.00.

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

HSBC Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, May 15th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Friday, May 15th. HSBC’s dividend payout ratio (DPR) is presently 32.46%.

Wall Street Analyst Weigh In

HSBC has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of HSBC in a research note on Tuesday, June 23rd. Zacks Research downgraded HSBC from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Citigroup reaffirmed a “buy” rating on shares of HSBC in a research report on Thursday, July 16th. BNP Paribas Exane cut HSBC from an “outperform” rating to a “neutral” rating in a research note on Tuesday, April 14th. Finally, Weiss Ratings downgraded HSBC from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Four investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, HSBC presently has an average rating of “Hold”.

Insider Transactions at HSBC

In other news, insider Daniel Scott Palomaki sold 23,123 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $18.11, for a total transaction of $418,757.53. Following the completion of the transaction, the insider owned 4,973 shares of the company’s stock, valued at approximately $90,061.03. The trade was a 82.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.01% of the company’s stock.

HSBC 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.