Cookson Peirce & Co. Inc. Has $24.71 Million Stake in HSBC Holdings plc (NYSE:HSBC)

Cookson Peirce & Co. Inc. reduced its stake in HSBC Holdings plc (NYSE:HSBC) by 1.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 609,466 shares of the financial services provider’s stock after selling 9,385 shares during the period. HSBC comprises approximately 1.5% of Cookson Peirce & Co. Inc.’s investment portfolio, making the stock its 23rd largest position. Cookson Peirce & Co. Inc.’s holdings in HSBC were worth $24,708,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Milestone Investment Advisors LLC acquired a new stake in shares of HSBC in the 3rd quarter valued at approximately $26,000. Benjamin F. Edwards & Company Inc. acquired a new stake in HSBC during the 2nd quarter worth approximately $27,000. Assetmark Inc. acquired a new stake in HSBC during the 3rd quarter worth approximately $30,000. Paradigm Asset Management Co. LLC acquired a new stake in HSBC during the 3rd quarter worth approximately $39,000. Finally, IFP Advisors Inc boosted its position in HSBC by 71.2% during the 2nd quarter. IFP Advisors Inc now owns 1,027 shares of the financial services provider’s stock worth $41,000 after buying an additional 427 shares during the period. 1.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. BNP Paribas downgraded shares of HSBC from a “neutral” rating to an “underperform” rating in a research report on Tuesday, January 16th. Barclays restated an “equal weight” rating on shares of HSBC in a report on Wednesday, March 27th. Two investment 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’s stock. According to data from MarketBeat, HSBC presently has a consensus rating of “Hold” and a consensus price target of $811.00.

HSBC Trading Down 2.4 %

Shares of NYSE:HSBC traded down $0.96 during mid-day trading on Tuesday, hitting $39.61. The company had a trading volume of 2,101,944 shares, compared to its average volume of 2,282,171. The firm has a fifty day moving average price of $39.23 and a 200 day moving average price of $39.04. The company has a market capitalization of $150.49 billion, a PE ratio of 6.96, a price-to-earnings-growth ratio of 0.96 and a beta of 0.63. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.90 and a quick ratio of 0.90. HSBC Holdings plc has a one year low of $34.89 and a one year high of $42.47.

HSBC (NYSE:HSBC) last announced its quarterly earnings results on Wednesday, February 21st. The financial services provider reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.33). The business had revenue of $13.02 billion for the quarter. HSBC had a net margin of 19.02% and a return on equity of 12.89%. As a group, research analysts forecast that HSBC Holdings plc will post 7.24 EPS for the current year.

HSBC Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Friday, March 8th will be paid a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 15.65%. The ex-dividend date is Thursday, March 7th. This is a positive change from HSBC’s previous quarterly dividend of $0.50. HSBC’s payout ratio is 108.42%.

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.