Renaissance Technologies LLC Grows Position in HSBC Holdings plc $HSBC

Renaissance Technologies LLC increased its stake in shares of HSBC Holdings plc (NYSE:HSBC) by 391.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 524,122 shares of the financial services provider’s stock after acquiring an additional 417,500 shares during the quarter. Renaissance Technologies LLC’s holdings in HSBC were worth $43,235,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of HSBC. Transamerica Financial Advisors LLC lifted its stake in HSBC by 287.1% in the 4th 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 purchased a new position in shares of HSBC during the third quarter valued at about $26,000. Binnacle Investments Inc increased its holdings in shares of 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 purchasing an additional 198 shares during the last quarter. Cornerstone Planning Group LLC lifted its position in shares of HSBC by 30.7% in the fourth quarter. Cornerstone Planning Group LLC now owns 498 shares of the financial services provider’s stock worth $43,000 after buying an additional 117 shares in the last quarter. Finally, Whipplewood Advisors LLC bought a new position in HSBC during the first quarter valued at approximately $41,000. 1.48% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other HSBC news, insider Daniel Scott Palomaki sold 23,123 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $18.11, for a total transaction of $418,757.53. Following the transaction, the insider 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.01% of the stock is owned by company insiders.

HSBC Trading Up 0.5%

Shares of HSBC stock opened at $103.96 on Tuesday. The company has a market cap of $357.27 billion, a PE ratio of 17.04, a price-to-earnings-growth ratio of 0.92 and a beta of 0.57. HSBC Holdings plc has a 1 year low of $60.61 and a 1 year high of $104.33. The stock’s 50 day simple moving average is $95.51 and its two-hundred day simple moving average is $89.63. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.92 and a quick ratio of 0.92.

HSBC (NYSE:HSBC) last announced its earnings results on Tuesday, March 31st. The financial services provider reported $0.44 EPS for the quarter. The firm had revenue of $19.12 billion during the quarter. HSBC had a return on equity of 13.35% and a net margin of 16.06%. Research analysts predict that HSBC Holdings plc will post 8.66 earnings per share for the current year.

HSBC Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders 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 1.9%. The ex-dividend date of this dividend was Friday, May 15th. HSBC’s payout ratio is presently 32.46%.

More HSBC News

Here are the key news stories impacting HSBC this week:

• Positive Sentiment: HSBC plans to hire more than 100 artificial-intelligence specialists and 100 wealth relationship managers in Singapore. The investment could accelerate automation, improve productivity and expand wealth-management revenue, a higher-margin business that supports the bank’s Asian growth strategy. Reuters article on HSBC hiring AI specialists and wealth managers
• Positive Sentiment: The bank is also tapping debt-capital-markets leaders across the United States and Middle East. The hires indicate an effort to capture more corporate-finance and bond-issuance activity, potentially boosting fee income. Bloomberg article on HSBC debt-capital-markets hires
• Neutral Sentiment: Blackstone’s credit arm is reportedly nearing a deal to acquire HSBC’s Australian loan book, valued at more than $30 billion. A sale could simplify HSBC’s portfolio and release capital for strategic priorities, but the financial terms, timing and effect on earnings have not been disclosed. Yahoo Finance report on Blackstone and HSBC Australian loan book
• Neutral Sentiment: HSBC is reportedly raising mortgage rates in the United Kingdom for the second time in a week. Higher rates may support lending margins, but could reduce mortgage demand and increase pressure on customers and competitors. Report on HSBC increasing mortgage rates

Wall Street Analyst Weigh In

Several research firms have weighed in on HSBC. Zacks Research cut HSBC from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. Weiss Ratings downgraded HSBC from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of HSBC in a report on Tuesday, June 23rd. Citigroup reaffirmed a “buy” rating on shares of HSBC in a research note on Thursday, July 16th. Finally, BNP Paribas Exane lowered shares of HSBC from an “outperform” rating to a “neutral” rating in a research report on Tuesday, April 14th. Four analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold”.

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.