Global Retirement Partners LLC Boosts Stock Holdings in HSBC Holdings plc $HSBC

Global Retirement Partners LLC raised its holdings in HSBC Holdings plc (NYSE:HSBC) by 146.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 23,814 shares of the financial services provider’s stock after acquiring an additional 14,161 shares during the period. Global Retirement Partners LLC’s holdings in HSBC were worth $1,873,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Measured Wealth Private Client Group LLC purchased a new position in shares of HSBC in the third quarter worth about $26,000. Binnacle Investments Inc increased its stake 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 in the last quarter. JPL Wealth Management LLC purchased a new position in shares of HSBC in the third quarter worth about $41,000. Root Financial Partners LLC purchased a new position in shares of HSBC in the third quarter worth about $43,000. Finally, Cornerstone Planning Group LLC increased its stake 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 purchasing an additional 117 shares in the last quarter. Hedge funds and other institutional investors own 1.48% of the company’s stock.

Insider Transactions at HSBC

In other HSBC news, insider Daniel Scott Palomaki sold 23,123 shares of HSBC stock in a transaction that occurred 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 completion of the sale, the insider directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.01% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on HSBC shares. The Goldman Sachs Group started coverage on shares of HSBC in a research note on Thursday, March 26th. They set a “buy” rating for the company. BNP Paribas Exane cut shares of HSBC from an “outperform” rating to a “neutral” rating in a research note on Tuesday, April 14th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of HSBC in a research note on Thursday, May 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. Finally, Zacks Research cut shares of HSBC from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Five analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $63.00.

HSBC Price Performance

Shares of NYSE:HSBC opened at $91.94 on Friday. The company has a 50 day moving average of $86.92 and a 200 day moving average of $82.47. The stock has a market cap of $315.96 billion, a P/E ratio of 15.07, a P/E/G ratio of 0.92 and a beta of 0.56. HSBC Holdings plc has a 12 month low of $58.14 and a 12 month high of $94.79. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.52.

HSBC (NYSE:HSBC) last announced its earnings results on Tuesday, March 31st. The financial services provider reported $0.44 earnings per share (EPS) for the quarter. HSBC had a net margin of 16.06% and a return on equity of 13.35%. The business had revenue of $19.13 billion during the quarter. As a group, sell-side analysts forecast that HSBC Holdings plc will post 8.54 EPS for the current fiscal year.

HSBC Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, May 15th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, May 15th. This represents a $2.00 annualized dividend and a yield of 2.2%. HSBC’s payout ratio is presently 32.46%.

HSBC 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.