Cerity Partners LLC Raises Stake in HSBC Holdings plc (NYSE:HSBC)

Cerity Partners LLC increased its stake in shares of HSBC Holdings plc (NYSE:HSBC) by 57.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 45,982 shares of the financial services provider’s stock after purchasing an additional 16,866 shares during the period. Cerity Partners LLC’s holdings in HSBC were worth $1,864,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in HSBC. Milestone Investment Advisors LLC bought a new position in HSBC in the 3rd quarter worth about $26,000. Benjamin F. Edwards & Company Inc. bought a new position in HSBC in the 2nd quarter worth about $27,000. Assetmark Inc. bought a new position in HSBC in the 3rd quarter worth about $30,000. Paradigm Asset Management Co. LLC bought a new position in HSBC in the 3rd quarter worth about $39,000. Finally, IFP Advisors Inc increased its stake in HSBC by 71.2% in the 2nd quarter. IFP Advisors Inc now owns 1,027 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 427 shares during the last quarter. Hedge funds and other institutional investors own 1.48% of the company’s stock.

HSBC Price Performance

Shares of HSBC stock opened at $40.53 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.90 and a quick ratio of 0.90. The business’s 50 day simple moving average is $39.28 and its two-hundred day simple moving average is $39.07. The stock has a market capitalization of $153.96 billion, a P/E ratio of 7.11, a price-to-earnings-growth ratio of 0.94 and a beta of 0.63. HSBC Holdings plc has a one year low of $34.89 and a one year high of $42.47.

HSBC (NYSE:HSBC) last announced its quarterly earnings results on Wednesday, February 21st. The financial services provider reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.33). The company had revenue of $13.02 billion during the quarter. HSBC had a return on equity of 12.89% and a net margin of 19.02%. Analysts forecast that HSBC Holdings plc will post 7.24 EPS for the current year.

HSBC Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Friday, March 8th will be paid a $1.55 dividend. This is a boost from HSBC’s previous quarterly dividend of $0.50. This represents a $6.20 dividend on an annualized basis and a yield of 15.30%. The ex-dividend date of this dividend is Thursday, March 7th. HSBC’s payout ratio is 108.42%.

Analyst Ratings Changes

Several brokerages have recently commented on HSBC. BNP Paribas lowered HSBC from a “neutral” rating to an “underperform” rating in a research report on Tuesday, January 16th. Barclays reiterated an “equal weight” rating on shares of HSBC in a research report on Wednesday, March 27th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $811.00.

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.