NewEdge Advisors LLC Sells 7,201 Shares of HSBC Holdings plc $HSBC

NewEdge Advisors LLC cut its position in shares of HSBC Holdings plc (NYSE:HSBC) by 23.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,706 shares of the financial services provider’s stock after selling 7,201 shares during the period. NewEdge Advisors LLC’s holdings in HSBC were worth $1,956,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Transamerica Financial Advisors LLC grew its position in shares of HSBC by 287.1% during the 4th quarter. Transamerica Financial Advisors LLC now owns 329 shares of the financial services provider’s stock worth $26,000 after buying an additional 244 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new stake in shares of HSBC in the third quarter valued at about $26,000. Binnacle Investments Inc lifted its stake in HSBC by 80.5% in the third quarter. Binnacle Investments Inc now owns 444 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 198 shares during the period. Whipplewood Advisors LLC purchased a new stake in HSBC in the first quarter worth about $41,000. Finally, JPL Wealth Management LLC bought a new position in HSBC during the 3rd quarter worth about $41,000. 1.48% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 sale, the insider directly owned 4,973 shares in the company, valued at $90,061.03. This trade represents a 82.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.01% of the stock is currently owned by company insiders.

Trending Headlines about HSBC

Here are the key news stories impacting HSBC this week:

• Positive Sentiment: Strategic exit from Australian retail banking: HSBC will sell approximately A$36 billion (US$25.3 billion) of Australian home and personal loans to Blackstone. The transaction allows HSBC to leave a noncore consumer-banking market, simplify operations and potentially redeploy capital toward higher-return businesses. Pepper Money will service the loan portfolio after the deal closes. HSBC to sell $25.3 billion Australian home loan portfolio to Blackstone
• Positive Sentiment: Capital structure management: HSBC plans to redeem in full its £1 billion 5.875% perpetual subordinated contingent convertible securities and delist the issue. The move may simplify the capital structure and remove an expensive instrument, although it will require a cash outlay. HSBC to Redeem £1bn Contingent Convertible Securities and Delist Issue
• Neutral Sentiment: Routine share-capital update: HSBC confirmed its issued share capital and total voting rights as of July 30. The disclosure does not indicate a material change to the investment case. HSBC Confirms Total Voting Rights Following Share Capital Update
• Negative Sentiment: Sale-related earnings drag: HSBC is expected to record a loss of less than US$100 million on the Australian portfolio sale, while the exit removes future interest income and customer relationships. The market will focus on the final accounting impact and how effectively HSBC redeploys the released capital. HSBC to sell US$25b of Australian home loans to Blackstone at a loss

HSBC Stock Performance

Shares of HSBC stock opened at $106.44 on Friday. The company has a market capitalization of $365.81 billion, a PE ratio of 17.45, a P/E/G ratio of 0.95 and a beta of 0.57. 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 company has a 50-day simple moving average of $96.62 and a two-hundred day simple moving average of $90.26. HSBC Holdings plc has a one year low of $60.61 and a one year high of $107.58.

HSBC (NYSE:HSBC) last released its quarterly 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 business had revenue of $19.12 billion for the quarter. Research analysts expect that HSBC Holdings plc will post 8.64 EPS for the current fiscal year.

HSBC Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, May 15th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $2.00 dividend on an annualized basis and a yield of 1.9%. HSBC’s dividend payout ratio is presently 32.46%.

Analyst Upgrades and Downgrades

HSBC has been the subject of several recent research reports. Erste Group Bank lowered shares of HSBC from a “buy” rating to a “hold” rating in a report on Wednesday, July 15th. Citigroup reiterated a “buy” rating on shares of HSBC in a research note on Thursday, July 16th. BNP Paribas Exane lowered shares of HSBC from an “outperform” rating to a “neutral” rating in a report on Tuesday, April 14th. Zacks Research downgraded shares of HSBC from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings lowered HSBC from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Four equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

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.