QRG Capital Management Inc. Boosts Stake in HSBC Holdings plc (NYSE:HSBC)

QRG Capital Management Inc. boosted its stake in shares of HSBC Holdings plc (NYSE:HSBC) by 1.2% during the 1st quarter, Holdings Channel reports. The firm owned 254,628 shares of the financial services provider’s stock after acquiring an additional 3,119 shares during the quarter. QRG Capital Management Inc.’s holdings in HSBC were worth $10,022,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of HSBC. Headlands Technologies LLC purchased a new position in shares of HSBC in the 1st quarter valued at about $87,000. Sei Investments Co. increased its stake in HSBC by 2.4% during the first quarter. Sei Investments Co. now owns 112,970 shares of the financial services provider’s stock worth $4,446,000 after acquiring an additional 2,639 shares during the last quarter. Atomi Financial Group Inc. lifted its stake in HSBC by 9.5% during the first quarter. Atomi Financial Group Inc. now owns 16,421 shares of the financial services provider’s stock worth $646,000 after purchasing an additional 1,425 shares in the last quarter. Susquehanna International Securities Ltd. grew its position in HSBC by 285.8% in the 1st quarter. Susquehanna International Securities Ltd. now owns 112,583 shares of the financial services provider’s stock valued at $4,431,000 after acquiring an additional 83,403 shares in the last quarter. Finally, Gallacher Capital Management LLC increased its position in shares of HSBC by 8.1% during the first quarter. Gallacher Capital Management LLC now owns 8,501 shares of the financial services provider’s stock worth $335,000 after acquiring an additional 637 shares during the period. 1.48% of the stock is owned by hedge funds and other institutional investors.

HSBC Stock Up 0.6 %

Shares of HSBC traded up $0.28 during midday trading on Tuesday, reaching $43.53. 899,116 shares of the company were exchanged, compared to its average volume of 1,894,601. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.51. HSBC Holdings plc has a 1-year low of $35.30 and a 1-year high of $45.46. The stock has a 50-day moving average price of $44.00 and a 200-day moving average price of $41.27. The company has a market cap of $163.28 billion, a price-to-earnings ratio of 7.47, a P/E/G ratio of 1.04 and a beta of 0.58.

HSBC (NYSE:HSBC) last issued its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $1.70 earnings per share (EPS) for the quarter. HSBC had a return on equity of 10.80% and a net margin of 16.13%. The business had revenue of $20.75 billion during the quarter. Research analysts expect that HSBC Holdings plc will post 6.4 earnings per share for the current year.

HSBC Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, May 10th were issued a dividend of $0.50 per share. The ex-dividend date was Thursday, May 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.59%. HSBC’s dividend payout ratio is 34.14%.

Wall Street Analysts Forecast Growth

Separately, Barclays restated an “equal weight” rating on shares of HSBC in a research note on Wednesday, March 27th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $789.00.

HSBC Profile

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.