HSBC Holdings plc $HSBC Shares Sold by Virtu Financial LLC

Virtu Financial LLC trimmed its holdings in HSBC Holdings plc (NYSE:HSBC) by 40.0% in the 4th quarter, HoldingsChannel reports. The fund owned 13,800 shares of the financial services provider’s stock after selling 9,204 shares during the quarter. Virtu Financial LLC’s holdings in HSBC were worth $1,086,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC raised its position in 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 during the period. Lester Murray Antman dba SimplyRich grew its holdings in shares of HSBC by 1.0% during the 4th quarter. Lester Murray Antman dba SimplyRich now owns 12,445 shares of the financial services provider’s stock worth $979,000 after purchasing an additional 123 shares during the period. Ellevest Inc. increased its position in shares of HSBC by 0.7% during the 4th quarter. Ellevest Inc. now owns 18,219 shares of the financial services provider’s stock worth $1,433,000 after purchasing an additional 131 shares during the last quarter. Federation des caisses Desjardins du Quebec raised its holdings in HSBC by 5.3% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 2,658 shares of the financial services provider’s stock valued at $209,000 after buying an additional 133 shares during the period. Finally, Checchi Capital Advisers LLC raised its holdings in HSBC by 0.5% in the 4th quarter. Checchi Capital Advisers LLC now owns 26,554 shares of the financial services provider’s stock valued at $2,089,000 after buying an additional 144 shares during the period. Institutional investors and hedge funds own 1.48% of the company’s stock.

Analysts Set New Price Targets

HSBC has been the subject of several research analyst reports. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of HSBC in a research note on Thursday, May 14th. BNP Paribas Exane downgraded shares of HSBC from an “outperform” rating to a “neutral” rating in a research note on Tuesday, April 14th. 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. Weiss Ratings lowered HSBC from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Finally, Zacks Research cut HSBC from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

HSBC Stock Performance

NYSE HSBC opened at $95.07 on Monday. The company has a market cap of $326.72 billion, a P/E ratio of 15.58, a P/E/G ratio of 0.84 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. The stock has a 50-day moving average of $91.37 and a two-hundred day moving average of $85.65. HSBC Holdings plc has a 1-year low of $58.14 and a 1-year high of $96.63.

HSBC (NYSE:HSBC) last issued its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $0.44 earnings per share (EPS) for the quarter. HSBC had a net margin of 16.06% and a return on equity of 13.35%. The business had revenue of $19.12 billion for the quarter. As a group, analysts anticipate that HSBC Holdings plc will post 8.6 EPS for the current year.

HSBC Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, May 15th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Friday, May 15th. HSBC’s dividend payout ratio is presently 32.46%.

Insider Transactions at HSBC

In other HSBC news, insider Daniel Scott Palomaki sold 23,123 shares of the firm’s 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 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 sale was disclosed in a filing with the SEC, which is available at this link. 0.01% of the stock is currently owned by company insiders.

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.