a16z Perennial Management L.P. Makes New Investment in HSBC Holdings plc $HSBC

a16z Perennial Management L.P. purchased a new stake in HSBC Holdings plc (NYSE:HSBC) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,052 shares of the financial services provider’s stock, valued at approximately $430,000.

A number of other institutional investors have also made changes to their positions in HSBC. Fisher Asset Management LLC lifted its stake in HSBC by 9.2% in the second quarter. Fisher Asset Management LLC now owns 17,043,371 shares of the financial services provider’s stock valued at $1,036,067,000 after buying an additional 1,430,797 shares during the period. American Century Companies Inc. raised its position in shares of HSBC by 11.9% in the 2nd quarter. American Century Companies Inc. now owns 1,143,382 shares of the financial services provider’s stock valued at $69,506,000 after acquiring an additional 121,151 shares during the period. JPMorgan Chase & Co. boosted its stake in HSBC by 160.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 502,200 shares of the financial services provider’s stock worth $30,529,000 after acquiring an additional 309,738 shares during the last quarter. Qube Research & Technologies Ltd grew its holdings in HSBC by 36.7% during the second quarter. Qube Research & Technologies Ltd now owns 365,570 shares of the financial services provider’s stock valued at $22,223,000 after purchasing an additional 98,048 shares during the period. Finally, Raymond James Financial Inc. increased its stake in HSBC by 1.2% in the second quarter. Raymond James Financial Inc. now owns 338,050 shares of the financial services provider’s stock valued at $20,550,000 after purchasing an additional 4,072 shares in the last quarter. 1.48% of the stock is owned by institutional investors and hedge funds.

HSBC Stock Performance

Shares of HSBC stock opened at $89.39 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market cap of $307.06 billion, a price-to-earnings ratio of 18.82, a price-to-earnings-growth ratio of 0.94 and a beta of 0.52. HSBC Holdings plc has a one year low of $45.66 and a one year high of $90.49. The stock’s 50-day moving average is $80.19 and its 200-day moving average is $71.92.

Wall Street Analysts Forecast Growth

HSBC has been the topic of a number of recent analyst reports. Erste Group Bank raised shares of HSBC from a “hold” rating to a “buy” rating in a research report on Thursday, November 20th. Morgan Stanley initiated coverage on HSBC in a report on Wednesday, January 14th. They set an “equal weight” rating on the stock. Citigroup restated a “buy” rating on shares of HSBC in a report on Friday, January 9th. Jefferies Financial Group reiterated a “hold” rating on shares of HSBC in a report on Friday, October 10th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of HSBC in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $63.00.

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.