ABC Arbitrage SA Trims Stock Position in HSBC Holdings plc $HSBC

ABC Arbitrage SA trimmed its position in shares of HSBC Holdings plc (NYSE:HSBC) by 21.4% during the 1st quarter, Holdings Channel reports. The fund owned 283,097 shares of the financial services provider’s stock after selling 77,235 shares during the period. HSBC makes up approximately 3.1% of ABC Arbitrage SA’s investment portfolio, making the stock its 9th biggest position. ABC Arbitrage SA’s holdings in HSBC were worth $23,353,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Cornerstone Planning Group LLC grew its holdings in shares of HSBC by 30.7% in the fourth quarter. Cornerstone Planning Group LLC now owns 498 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 117 shares in the last quarter. Lester Murray Antman dba SimplyRich lifted its holdings in shares of HSBC by 1.0% in the 4th quarter. Lester Murray Antman dba SimplyRich now owns 12,445 shares of the financial services provider’s stock valued at $979,000 after acquiring an additional 123 shares during the last quarter. Ellevest Inc. grew its position in HSBC by 0.7% in the fourth quarter. Ellevest Inc. now owns 18,219 shares of the financial services provider’s stock worth $1,433,000 after acquiring an additional 131 shares in the last quarter. Federation des caisses Desjardins du Quebec increased its stake in HSBC by 5.3% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 2,658 shares of the financial services provider’s stock worth $209,000 after acquiring an additional 133 shares during the last quarter. Finally, Integrated Advisors Network LLC raised its position in HSBC by 3.9% during the first quarter. Integrated Advisors Network LLC now owns 3,571 shares of the financial services provider’s stock valued at $295,000 after purchasing an additional 134 shares during the period. 1.48% of the stock is currently owned by institutional investors.

HSBC Price Performance

Shares of HSBC stock opened at $98.14 on Tuesday. The stock has a 50 day moving average price of $93.22 and a 200 day moving average price of $88.12. HSBC Holdings plc has a 52-week low of $60.61 and a 52-week high of $99.47. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market capitalization of $337.29 billion, a P/E ratio of 16.09, a P/E/G ratio of 0.87 and a beta of 0.57.

HSBC (NYSE:HSBC) last announced its quarterly earnings data on Tuesday, March 31st. The financial services provider reported $0.44 EPS for the quarter. HSBC had a return on equity of 13.35% and a net margin of 16.06%.The company had revenue of $19.12 billion for the quarter. As a group, sell-side analysts predict that HSBC Holdings plc will post 8.69 earnings per share for the current year.

HSBC Cuts Dividend

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, insider Daniel Scott Palomaki sold 23,123 shares of the firm’s stock in a transaction dated 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 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 corporate 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.