Clearbridge Investments LLC Grows Stock Holdings in HSBC Holdings plc $HSBC

Clearbridge Investments LLC grew its holdings in HSBC Holdings plc (NYSE:HSBC) by 77.0% during the fourth quarter, HoldingsChannel reports. The firm owned 1,443,716 shares of the financial services provider’s stock after acquiring an additional 627,857 shares during the period. Clearbridge Investments LLC’s holdings in HSBC were worth $113,577,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Measured Wealth Private Client Group LLC purchased a new position in HSBC in the 3rd quarter worth approximately $26,000. Binnacle Investments Inc lifted its stake in HSBC by 80.5% in the 3rd quarter. Binnacle Investments Inc now owns 444 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 198 shares in the last quarter. Cornerstone Planning Group LLC lifted its stake in HSBC by 30.7% in 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 in the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new position in HSBC in the 4th quarter worth approximately $43,000. Finally, Bartlett & CO. Wealth Management LLC lifted its stake in HSBC by 126.4% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 575 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 321 shares in the last quarter. 1.48% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Daniel Scott Palomaki sold 23,123 shares of HSBC stock in a transaction that occurred 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 completion of the sale, the insider owned 4,973 shares in the company, valued at approximately $90,061.03. This trade represents a 82.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.01% of the company’s stock.

HSBC Stock Up 0.1%

Shares of NYSE HSBC opened at $90.85 on Monday. The company has a 50 day simple moving average of $89.60 and a 200-day simple moving average of $84.06. The company has a market capitalization of $312.22 billion, a P/E ratio of 14.89, a P/E/G ratio of 0.81 and a beta of 0.56. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.92 and a quick ratio of 0.92. HSBC Holdings plc has a 1 year low of $58.14 and a 1 year high of $95.61.

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

HSBC Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, May 15th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.2%. The ex-dividend date is Friday, May 15th. HSBC’s dividend payout ratio (DPR) is 32.46%.

Key Stories Impacting HSBC

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

Analyst Upgrades and Downgrades

HSBC has been the topic of a number of research reports. The Goldman Sachs Group began coverage on shares of HSBC in a research note on Thursday, March 26th. They issued a “buy” rating on the stock. Zacks Research downgraded shares of HSBC from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. BNP Paribas Exane downgraded shares of HSBC from an “outperform” rating to a “neutral” rating in a report on Tuesday, April 14th. Royal Bank Of Canada restated a “sector perform” rating on shares of HSBC in a report on Thursday, May 14th. Finally, Weiss Ratings downgraded shares of HSBC from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Five equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, HSBC has a consensus rating of “Hold”.

HSBC Company 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.