HSBC Holdings plc $HSBC Shares Sold by Virtu Financial LLC

Virtu Financial LLC reduced its holdings in HSBC Holdings plc (NYSE:HSBC) by 40.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,800 shares of the financial services provider’s stock after selling 9,204 shares during the period. Virtu Financial LLC’s holdings in HSBC were worth $1,086,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in HSBC. Foresight Global Investors Inc. purchased a new position in HSBC in the 3rd quarter valued at about $12,810,000. American Century Companies Inc. increased its stake in HSBC by 14.7% during the 3rd quarter. American Century Companies Inc. now owns 1,311,820 shares of the financial services provider’s stock worth $93,113,000 after buying an additional 168,438 shares in the last quarter. AMJ Financial Wealth Management increased its stake in HSBC by 91.0% during the 3rd quarter. AMJ Financial Wealth Management now owns 118,837 shares of the financial services provider’s stock worth $8,435,000 after buying an additional 56,624 shares in the last quarter. Legacy Financial Advisors Inc. acquired a new position in shares of HSBC during the third quarter valued at approximately $1,331,000. Finally, Fisher Asset Management LLC lifted its position in shares of HSBC by 2.1% in the third quarter. Fisher Asset Management LLC now owns 17,398,460 shares of the financial services provider’s stock valued at $1,234,943,000 after acquiring an additional 355,089 shares in the last quarter. 1.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Daniel Scott Palomaki sold 23,123 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $18.11, for a total value of $418,757.53. Following the completion of the sale, the insider owned 4,973 shares of the company’s stock, valued at approximately $90,061.03. This represents a 82.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.01% of the company’s stock.

HSBC Price Performance

HSBC stock opened at $95.07 on Monday. HSBC Holdings plc has a 1 year low of $58.14 and a 1 year high of $96.63. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market capitalization of $326.72 billion, a PE ratio of 15.58, a price-to-earnings-growth ratio of 0.84 and a beta of 0.56. The business has a 50 day simple moving average of $91.37 and a 200-day simple moving average of $85.65.

HSBC (NYSE:HSBC) last released its quarterly earnings data on Tuesday, March 31st. The financial services provider reported $0.44 earnings per share for the quarter. The company had revenue of $19.12 billion for the quarter. HSBC had a return on equity of 13.35% and a net margin of 16.06%. Equities research analysts anticipate that HSBC Holdings plc will post 8.6 earnings per share for the current fiscal year.

HSBC Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, May 15th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $2.00 annualized dividend and a dividend yield of 2.1%. HSBC’s payout ratio is presently 32.46%.

Wall Street Analyst Weigh In

Several analysts recently commented on HSBC shares. Royal Bank Of Canada reiterated a “sector perform” rating on shares of HSBC in a research report on Thursday, May 14th. Zacks Research lowered HSBC from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. BNP Paribas Exane cut shares of HSBC from an “outperform” rating to a “neutral” rating in a research note on Tuesday, April 14th. Weiss Ratings lowered shares of HSBC from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Finally, The Goldman Sachs Group began coverage on shares of HSBC in a research report on Thursday, March 26th. They issued a “buy” rating for the company. Five analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently 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.