Fisher Asset Management LLC Raises Stake in HSBC Holdings plc $HSBC

Fisher Asset Management LLC boosted its holdings in shares of HSBC Holdings plc (NYSE:HSBC) by 2.3% in the fourth quarter, HoldingsChannel reports. The fund owned 17,800,748 shares of the financial services provider’s stock after acquiring an additional 402,288 shares during the period. Fisher Asset Management LLC’s holdings in HSBC were worth $1,400,385,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Wedbush Securities Inc. lifted its position in HSBC by 101.3% during the 3rd quarter. Wedbush Securities Inc. now owns 26,822 shares of the financial services provider’s stock valued at $1,904,000 after acquiring an additional 13,495 shares during the period. Foresight Global Investors Inc. purchased a new position in HSBC during the 3rd quarter valued at about $12,810,000. American Century Companies Inc. lifted its position in HSBC by 14.7% during the 3rd quarter. American Century Companies Inc. now owns 1,311,820 shares of the financial services provider’s stock valued at $93,113,000 after acquiring an additional 168,438 shares during the period. Y Intercept Hong Kong Ltd lifted its position in HSBC by 63.4% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 49,410 shares of the financial services provider’s stock valued at $3,507,000 after acquiring an additional 19,176 shares during the period. Finally, AMJ Financial Wealth Management lifted its position in HSBC by 91.0% during the 3rd quarter. AMJ Financial Wealth Management now owns 118,837 shares of the financial services provider’s stock valued at $8,435,000 after acquiring an additional 56,624 shares during the period. 1.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at HSBC

In other 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 directly owned 4,973 shares in the company, valued at $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 is available through this link. 0.01% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports 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. Weiss Ratings cut shares of HSBC from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. The Goldman Sachs Group began coverage on shares of HSBC in a report on Thursday, March 26th. They issued a “buy” rating for the company. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of HSBC in a report on Thursday, May 14th. Finally, Zacks Research cut shares of HSBC from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. Five 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, the stock currently has a consensus rating of “Hold” and an average price target of $63.00.

HSBC Stock Down 0.1%

Shares of HSBC stock opened at $91.94 on Monday. 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 stock has a market capitalization of $315.96 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 0.92 and a beta of 0.56. HSBC Holdings plc has a 52-week low of $58.14 and a 52-week high of $94.79. The company has a 50-day simple moving average of $86.92 and a two-hundred day simple moving average of $82.56.

HSBC (NYSE:HSBC) last issued its earnings results on Tuesday, March 31st. The financial services provider reported $0.44 earnings per share (EPS) for the quarter. The business had revenue of $19.13 billion during the quarter. HSBC had a net margin of 16.06% and a return on equity of 13.35%. On average, analysts anticipate that HSBC Holdings plc will post 8.54 EPS for the current fiscal year.

HSBC Cuts Dividend

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

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.