Tocqueville Asset Management L.P. Increases Position in HSBC Holdings PLC (HSBC)
Tocqueville Asset Management L.P. boosted its position in shares of HSBC Holdings PLC (NYSE:HSBC) by 10.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,513 shares of the financial services provider’s stock after buying an additional 14,662 shares during the period. Tocqueville Asset Management L.P.’s holdings in HSBC Holdings PLC were worth $7,261,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. Fisher Asset Management LLC raised its stake in HSBC Holdings PLC by 4.0% in the second quarter. Fisher Asset Management LLC now owns 13,533,107 shares of the financial services provider’s stock valued at $627,801,000 after buying an additional 516,291 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in HSBC Holdings PLC by 3.6% in the first quarter. Dimensional Fund Advisors LP now owns 13,211,121 shares of the financial services provider’s stock valued at $539,278,000 after buying an additional 454,788 shares during the last quarter. Cambiar Investors LLC raised its stake in HSBC Holdings PLC by 1.3% in the first quarter. Cambiar Investors LLC now owns 6,581,634 shares of the financial services provider’s stock valued at $268,662,000 after buying an additional 86,829 shares during the last quarter. Parametric Portfolio Associates LLC raised its stake in HSBC Holdings PLC by 22.1% in the first quarter. Parametric Portfolio Associates LLC now owns 1,850,523 shares of the financial services provider’s stock valued at $75,538,000 after buying an additional 334,869 shares during the last quarter. Finally, Aperio Group LLC raised its stake in HSBC Holdings PLC by 8.6% in the second quarter. Aperio Group LLC now owns 1,254,663 shares of the financial services provider’s stock valued at $58,204,000 after buying an additional 99,776 shares during the last quarter. 2.26% of the stock is owned by institutional investors.
Shares of HSBC Holdings PLC (NYSE HSBC) opened at 47.44 on Thursday. The stock has a 50 day moving average price of $48.44 and a 200 day moving average price of $43.88. The company has a market capitalization of $192.32 billion, a price-to-earnings ratio of 96.82 and a beta of 0.89. HSBC Holdings PLC has a 1-year low of $35.70 and a 1-year high of $50.86.
HSBC Holdings PLC (NYSE:HSBC) last announced its quarterly earnings results on Monday, July 31st. The financial services provider reported $0.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.08. The company had revenue of $13.17 billion for the quarter. HSBC Holdings PLC had a net margin of 1.42% and a return on equity of 2.08%. On average, equities analysts anticipate that HSBC Holdings PLC will post $2.95 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Friday, August 4th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, August 2nd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.22%. HSBC Holdings PLC’s dividend payout ratio (DPR) is presently 400.01%.
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Several equities research analysts have recently issued reports on HSBC shares. BidaskClub raised HSBC Holdings PLC from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Zacks Investment Research raised HSBC Holdings PLC from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research note on Wednesday, June 28th. Finally, Berenberg Bank lowered HSBC Holdings PLC from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $35.67.
About HSBC Holdings PLC
HSBC Holdings plc (HSBC) is the banking and financial services company. The Company manages its products and services through four businesses: Retail Banking and Wealth Management (RBWM), Commercial Banking (CMB), Global Banking and Markets (GB&M), and Global Private Banking (GPB). It operates across various geographical regions, which include Europe, Asia, Middle East and North Africa, North America and Latin America.
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