Summit Global Investments Decreases Position in HSBC Holdings plc (NYSE:HSBC)

Summit Global Investments trimmed its stake in shares of HSBC Holdings plc (NYSE:HSBC) by 0.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,083 shares of the financial services provider’s stock after selling 695 shares during the quarter. Summit Global Investments’ holdings in HSBC were worth $4,138,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. First Trust Direct Indexing L.P. increased its stake in shares of HSBC by 2.1% during the fourth quarter. First Trust Direct Indexing L.P. now owns 55,026 shares of the financial services provider’s stock worth $2,231,000 after buying an additional 1,136 shares during the period. Hexagon Capital Partners LLC raised its holdings in shares of HSBC by 50.5% in the 4th quarter. Hexagon Capital Partners LLC now owns 6,319 shares of the financial services provider’s stock valued at $256,000 after purchasing an additional 2,120 shares in the last quarter. Savant Capital LLC lifted its position in shares of HSBC by 5.3% during the 4th quarter. Savant Capital LLC now owns 5,574 shares of the financial services provider’s stock worth $226,000 after purchasing an additional 279 shares during the last quarter. Mission Wealth Management LP acquired a new position in shares of HSBC during the fourth quarter worth $211,000. Finally, Kestra Private Wealth Services LLC purchased a new position in HSBC in the fourth quarter valued at $206,000. Hedge funds and other institutional investors own 1.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on HSBC. Barclays reiterated an “equal weight” rating on shares of HSBC in a report on Wednesday, March 27th. BNP Paribas downgraded shares of HSBC from a “neutral” rating to an “underperform” rating in a research report on Tuesday, January 16th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $811.00.

HSBC Stock Performance

NYSE:HSBC traded up $0.87 during trading hours on Thursday, reaching $44.52. 1,793,345 shares of the company’s stock were exchanged, compared to its average volume of 2,231,933. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $168.36 billion, a price-to-earnings ratio of 7.64, a P/E/G ratio of 1.03 and a beta of 0.58. HSBC Holdings plc has a 1-year low of $35.30 and a 1-year high of $44.70. The company has a 50-day moving average of $39.74 and a 200 day moving average of $39.19.

HSBC (NYSE:HSBC) last announced its earnings results on Wednesday, February 21st. The financial services provider reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.33). The company had revenue of $13.02 billion during the quarter. HSBC had a net margin of 16.13% and a return on equity of 10.90%. Research analysts anticipate that HSBC Holdings plc will post 7.24 EPS for the current year.

HSBC Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, May 10th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.00 annualized dividend and a dividend yield of 4.49%. HSBC’s dividend payout ratio is currently 106.55%.

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.