QRG Capital Management Inc. Acquires 8,972 Shares of HSBC Holdings plc $HSBC

QRG Capital Management Inc. grew its holdings in HSBC Holdings plc (NYSE:HSBC) by 4.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 233,194 shares of the financial services provider’s stock after acquiring an additional 8,972 shares during the period. QRG Capital Management Inc.’s holdings in HSBC were worth $19,236,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Transamerica Financial Advisors LLC boosted its holdings in HSBC by 287.1% in the fourth quarter. Transamerica Financial Advisors LLC now owns 329 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 244 shares in the last quarter. Measured Wealth Private Client Group LLC acquired a new stake in shares of HSBC in the third quarter worth about $26,000. Binnacle Investments Inc boosted its stake in shares of HSBC by 80.5% during the 3rd quarter. Binnacle Investments Inc now owns 444 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 198 shares in the last quarter. Cornerstone Planning Group LLC increased its holdings in shares of HSBC by 30.7% during the 4th quarter. Cornerstone Planning Group LLC now owns 498 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 117 shares during the last quarter. Finally, SHP Wealth Management acquired a new position in shares of HSBC during the 4th quarter valued at about $42,000. Institutional investors own 1.48% of the company’s stock.

Insiders Place Their Bets

In other HSBC news, insider Daniel Scott Palomaki sold 23,123 shares of the stock in a transaction 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 of the company’s stock, valued at $90,061.03. This represents a 82.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.01% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Royal Bank Of Canada restated a “sector perform” rating on shares of HSBC in a report on Thursday, May 14th. BNP Paribas Exane lowered 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 note on Wednesday, May 6th. Zacks Research lowered shares of HSBC from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of HSBC in a report on Tuesday, June 23rd. Five equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold”.

HSBC Price Performance

Shares of NYSE:HSBC opened at $96.69 on Friday. The company has a market cap of $332.29 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 0.85 and a beta of 0.57. The business has a 50 day moving average price of $92.27 and a 200 day moving average price of $87.16. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.52. HSBC Holdings plc has a twelve month low of $60.51 and a twelve month high of $97.88.

HSBC (NYSE:HSBC) last issued its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $0.44 EPS for the quarter. HSBC had a return on equity of 13.35% and a net margin of 16.06%.The company had revenue of $19.12 billion for the quarter. Research analysts predict that HSBC Holdings plc will post 8.67 earnings per share for the current year.

HSBC Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, May 15th were 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 was Friday, May 15th. HSBC’s dividend payout ratio is presently 32.46%.

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.