HSBC Holdings plc $HSBC Shares Acquired by Assetmark Inc.

Assetmark Inc. increased its holdings in shares of HSBC Holdings plc (NYSE:HSBC) by 12.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,273 shares of the financial services provider’s stock after acquiring an additional 5,817 shares during the quarter. Assetmark Inc.’s holdings in HSBC were worth $4,394,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Transamerica Financial Advisors LLC increased its holdings in shares of HSBC by 287.1% in the fourth quarter. Transamerica Financial Advisors LLC now owns 329 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 244 shares during the last quarter. Measured Wealth Private Client Group LLC acquired a new stake in shares of HSBC in the 3rd quarter worth $26,000. Binnacle Investments Inc boosted its position in shares of HSBC by 80.5% during the 3rd quarter. Binnacle Investments Inc now owns 444 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 198 shares during the last quarter. Whipplewood Advisors LLC acquired a new stake in HSBC during the first quarter worth about $41,000. Finally, JPL Wealth Management LLC purchased a new stake in shares of HSBC in the 3rd quarter valued at approximately $41,000. 1.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on HSBC shares. Citigroup reiterated a “buy” rating on shares of HSBC in a report on Thursday, July 16th. The Goldman Sachs Group assumed coverage on shares of HSBC in a report on Thursday, March 26th. They issued a “buy” rating on the stock. BNP Paribas Exane cut shares of HSBC from an “outperform” rating to a “neutral” rating in a research report on Tuesday, April 14th. Erste Group Bank cut shares of HSBC from a “buy” rating to a “hold” rating in a research report on Wednesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of HSBC in a research note on Tuesday, June 23rd. Four equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

HSBC Stock Performance

Shares of HSBC stock opened at $103.23 on Thursday. HSBC Holdings plc has a 12 month low of $60.61 and a 12 month high of $103.50. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.52. The company has a market cap of $354.78 billion, a P/E ratio of 16.92, a PEG ratio of 0.90 and a beta of 0.57. The firm has a fifty day moving average price of $94.72 and a 200 day moving average price of $89.17.

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

HSBC Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, May 15th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Friday, May 15th. HSBC’s payout ratio is currently 32.46%.

Insider Activity at HSBC

In related news, insider Daniel Scott Palomaki sold 23,123 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $18.11, for a total value of $418,757.53. Following the transaction, the insider directly owned 4,973 shares of the company’s stock, valued at $90,061.03. This trade represents a 82.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.01% of the stock is owned by company insiders.

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.